Forbright Bank vs. Newtek Bank
Comparing Forbright Bank and Newtek Bank for high-yield savings: Forbright Bank's Growth Savings pays 3.85% APY while Newtek Bank's Personal High Yield Savings pays 4.20% APY.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? Newtek Bank pays $35 more than Forbright Bank annually ($420 vs $385).
Choose Forbright Bank if you're an Android user, or you want Zelle for quick transfers. Choose Newtek Bank if getting the best rate matters most.
| Metric | Forbright BankGrowth Savings Apr 7, 2026 | Newtek BankPersonal High Yield Savings Apr 7, 2026 |
|---|---|---|
| APY | 3.85% | 4.20% |
Est. Earnings | $5,000+$193 $10,000+$385 $25,000+$963 | $5,000+$210 $10,000+$420 $25,000+$1,050 |
Min Deposit | $0 | $0.01 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® SupportedDaily CompoundingRate Changes Often | FDIC InsuredNo MinimumsGreat iOS AppDaily CompoundingRate Changes Often |
Prefer In-Person Banking?
Both of these banks are online-only. If you need physical branch access, check out our list of high-yield accounts with brick-and-mortar locations.
Comparison Analysis
Comparing Forbright Bank vs. Newtek Bank
Executive Summary
Newtek Bank stands out with its Personal High Yield Savings account, offering a competitive APY of 4.20%. This online-only account requires a minimum deposit of just $0.01 and has no maintenance fees or direct deposit requirements, making it a simple choice for savers. In comparison, Forbright Bank's Growth Savings account offers a lower APY of 3.85% but also features no minimum deposit or maintenance fees, and it is accessible online. Forbright Bank does provide additional savings options, such as the Bright Savings and Sprout Savings accounts, but these yield lower rates. Overall, Newtek Bank's higher APY makes it the more attractive option for savers.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Forbright Bank?
- ✓Physical branch access (Locations in the Washington D.C. area (Maryland and Virginia))
- ✓Higher rated iOS app (4.8 vs 4.5)
- ✓Higher rated Android app (4.5 vs 3.9)
- ✓Offers 3 different high-yield savings options
- ✓Fast transfers via Zelle®
Why Newtek Bank?
- ✓Higher potential APY (4.20% vs 3.45%-3.85%) on all balances
— Key Feature Differences —
Better Returns at $10,000
Newtek BankNewtek Bank's Personal High Yield Savings earns more on smaller deposits (approx. $420 vs $385/yr).
Better Returns at $25,000
Newtek BankNewtek Bank's Personal High Yield Savings pulls ahead with larger amounts (approx. $1050 vs $963/yr).
Best for Simplicity
Newtek BankNewtek Bank's Personal High Yield Savings offers 4.20% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
Forbright BankForbright Bank offers an iOS app rated 4.8 (vs. 4.5) and Android app rated 4.5 (vs. 3.9)
Shared Benefits
Over a 1-year period, Newtek Bank's Personal High Yield Savings pays $35 more interest on a $10,000 balance than Forbright Bank's Growth Savings.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Forbright Bank vs. Newtek Bank Savings Calculator
You earn $35 more with Newtek Bank than Forbright Bank on a $10,000 initial deposit for 1 year*.
*This calculation assumes that APYs remain unchanged for 1 year, and takes into account known promo rate periods, but does not factor in bonuses. You can see how often these banks have changed their rates in the Compare Savings Rates Over Time section below.
Forbright Bank
Growth Savings
Savings Breakdown
- Interest Earned+$385.00(3.7%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,385.00
Newtek Bank
Personal High Yield Savings
Savings Breakdown
- Interest Earned+$420.00(4.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,420.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Still banking with Chase, Bank of America, or Wells Fargo?
On a $10,000 balance, you're missing out on at least $384 per year in interest.
Both Forbright Bank and Newtek Bank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Forbright Bank | Newtek Bank |
|---|---|---|
| APY | 3.85% Verified: 4/7/2026 ↘︎ 0.15%90d Change | 4.20% Verified: 4/7/2026 ↘︎ 0.15%90d Change |
| Product Name | Growth Savings | Personal High Yield Savings |
| Minimum Deposit | $0 | $0.01 |
| Min. Balance for APY | $0 | $0.01 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Daily | Daily |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Physical Branches | Locations in the Washington D.C. area (Maryland and Virginia) | None |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Available Branch accounts only; Growth Savings online does NOT support. | Not Supported |
| BBB Rating | A+ | A+ |
| Next Steps | Visit SiteVerify at Forbright Bank Non-sponsored link to official site | Visit SiteVerify at Newtek Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Forbright Bank | Newtek Bank | ||
|---|---|---|---|---|
| Sprout Savings | Bright Savings | Growth Savings | Personal High Yield Savings | |
Current APY | 3.45% | 3.45% | 3.85% | 4.20% |
Trend | Stable | Stable | Stable | Stable |
Velocity (bps/mo) | -4.9 | -4.9 | -4.5 | -1.2 |
Days Since Change | 88 | 88 | 88 | 60 |
12-Month High | 3.90% | 3.90% | 4.25% | 4.45% |
12-Month Low | 3.45% | 3.45% | 3.85% | 4.20% |
Adjustments / Mo | 0.16 | 0.16 | 0.16 | 0.16 |
Volatility Score | 0.051 | 0.051 | 0.042 | 0.014 |
How to read these metrics(Click to expand)
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More Comparisons
Compare Forbright Bank's APY of 3.85% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Forbright Bank vs Ally Bank | 3.20% | $0 |
| Forbright Bank vs American Express | 3.20% | $0 |
| Forbright Bank vs Axos Bank | 4.21% | $0 |
| Forbright Bank vs Barclays | 3.85% | $0 |
| Forbright Bank vs Capital One | 3.20% | $0 |
| Forbright Bank vs Chime | 3.00% | $0 |
| Forbright Bank vs CIT Bank | 3.75% | $100 |
| Forbright Bank vs Discover Bank | 3.30% | $0 |
| Forbright Bank vs EverBank | 3.90% | $0 |
| Forbright Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Forbright Bank vs Openbank | 4.00% | $500 |
| Forbright Bank vs Pibank | 4.60% | $0 |
| Forbright Bank vs SoFi Bank | 4.00% | $0 |
| Forbright Bank vs Synchrony Bank | 3.50% | $0 |
| Forbright Bank vs Varo Bank | 5.00% | $0 |
| Forbright Bank vs Wealthfront | 4.20% | $0 |