Go2bank vs Newtek Bank
High-Yield Savings Accounts Comparison
Last Updated: September 5, 2025
We earn a commission if you open an account through some links on this page.
Summary of GO2bank vs. Newtek Bank
As of September 5, 2025 GO2bank offers an APY of 4.50% for its High Yield Savings account, with a minimum balance of $0, compared to Newtek Bank's 4.35% APY for its Personal High Yield Savings account, with a minimum balance of $0.01.
GO2bank yields $15 more than Newtek Bank on a $10,000 balance after one year. GO2bank pays $450, while Newtek Bank pays $435 - an APY advantage for GO2bank.
GO2bank
Strengths
- GO2bank offers a higher APY of 4.50% compared to Newtek Bank's 4.35%.
- GO2bank has a higher App Store rating of 4.8 versus Newtek Bank's 4.5.
- No maintenance fees if direct deposit is set up with GO2bank.
Potential Drawbacks
- GO2bank is not BBB Accredited and has no BBB rating.
- GO2bank charges a $5 monthly fee without direct deposit.
- Only balances up to $5,000 earn interest at GO2bank.
Newtek Bank
Strengths
- Newtek Bank has an A+ BBB rating and is BBB Accredited.
- Newtek Bank has no maintenance fees regardless of account activity.
- Newtek Bank allows balances as low as $0.01 to earn interest.
Potential Drawbacks
- Newtek Bank's APY is lower at 4.35% compared to GO2bank's 4.50%.
- Newtek Bank has a lower App Store rating of 4.5 versus GO2bank's 4.8.
- Newtek Bank has no branch locations.
Summary: GO2bank offers a higher APY of 4.50% versus Newtek Bank's 4.35%, but charges a $5 monthly fee without direct deposit. Newtek Bank has an A+ BBB rating and no maintenance fees, making it a reliable choice. Both banks are online-only, with GO2bank having a better App Store rating. However, GO2bank's interest is capped at $5,000, while Newtek Bank allows balances as low as $0.01 to earn interest.
Compare GO2bank's vs Newtek Bank's Savings Accounts
| GO2bank | Newtek Bank | ||
|---|---|---|---|
| Product | High Yield Savings | vs | Personal High Yield Savings |
| APY | 4.50% (as of 9/5/2025) | 4.35% (as of 9/5/2025) | |
| Bundled Account | No | No | |
| FDIC-insured | Yes | Yes | |
| Online Only | Yes | Yes | |
| Compound Frequency | Quarterly | Daily | |
| Minimum Deposit | $0 | $0 | |
| Minimum Balance for APY | $0 | $0.01 | |
| Maintenance Fee | $5 per month, unless you set up direct deposit | $0 | |
| Direct Deposit Required | No | No | |
| Note | The 4.50% APY is up to $5,000. Balances above that earn no interest. | ||
| App Store Rating | 4.8/5 | 4.5/5 | |
| Google Play Rating | 4.6/5 | 4.2/5 | |
| BBB Rating | Not Rated | A+ |
Comparative Historical APY Insights (Last 1 Month)
| GO2bank | Newtek Bank | ||
|---|---|---|---|
| Product | High Yield Savings | vs | Personal High Yield Savings |
| Latest APY | 4.50 % | 4.35 % | |
| Trend | Sideways | Sideways | |
| Slope (bps/mo) | 0.0 | -0.0 | |
| Rate Changes / Mo | 0.00 | 0.00 | |
| Days Since Last Change | 29 | 29 | |
| High (-1 m) | 4.50 % | 4.35 % | |
| Low (-1 m) | 4.50 % | 4.35 % | |
| Draw-down from High | 0.0 % | 0.0 % | |
| Volatility (CV) | 0.000 | 0.000 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 1 months (regression slope).
- Slope (bps/mo)
- Average monthly change; 10 bps = 0.10 pp.
- Rate Changes / Mo
- Typical number of APY moves per month.
- Days Since Last Change
- Recency of the latest APY adjustment.
- High (-1 m)
- Highest APY in the last 30 days.
- Low (-1 m)
- Lowest APY in the last 30 days.
- Draw-down from High
- How far today sits below the 1-month peak.
- Volatility (CV)
- Coefficient of variation = stdev ÷ mean.
Why Track Savings-Account APYs?
- See how quickly a bank reacts to Fed moves or competition.
- Gauge “twitchiness” - frequent moves can annoy savers.
- Spot if you're buying near a peak (draw-down) or riding a rise.
- Slope (bps/mo) shows speed of change.
- Volatility (CV) scales jumps by average level.
Calculate Savings Growth for GO2bank vs Newtek Bank
All calculations are based on APY.
GO2bank
APY: 4.50%
Total savings breakdown:
- Interest earned: $2,760.1 (13.30%)
- Total contributions: $13,000 (62.62%)
- Initial deposit: $5,000 (24.08%)
Your total balance
$20,760.10
Effective APY: 4.50% (based on your deposit and contributions)
Total balance: $20,760.1
Earnings: $2,760.1
Bank OverviewNewtek Bank
APY: 4.35%
Total savings breakdown:
- Interest earned: $2,662 (12.88%)
- Total contributions: $13,000 (62.92%)
- Initial deposit: $5,000 (24.20%)
Your total balance
$20,662.00
Effective APY: 4.35% (based on your deposit and contributions)
Total balance: $20,662
Earnings: $2,662
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, GO2bank's total earnings would be $98.1 higher than Newtek Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
More Comparisons
Compare GO2bank's APY of 4.50% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| GO2bank vs Ally Bank | 3.50% | $0 |
| GO2bank vs American Express | 3.50% | $0 |
| GO2bank vs Axos Bank | 4.46% | $0 |
| GO2bank vs Bank of America | 0.01% | $100 |
| GO2bank vs Barclays | 4.10% | $0 |
| GO2bank vs BrioDirect | 4.30% | $5,000 |
| GO2bank vs Capital One | 3.50% | $0 |
| GO2bank vs Chase Bank | 0.01% | $0 |
| GO2bank vs Chime | 3.75% | $0 |
| GO2bank vs CIT Bank | 4.00% | $100 |
| GO2bank vs Discover Bank | 3.50% | $0 |
| GO2bank vs Elevault | 4.60% | $0 |
| GO2bank vs EverBank | 4.30% | $0 |
| GO2bank vs Fitness Bank | 4.75% | $100 |
| GO2bank vs FVCbank | 4.35% | $500 |
| GO2bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| GO2bank vs Neighbors Bank | 4.60% | $0 |
| GO2bank vs Peak Bank | 4.35% | $100 |
| GO2bank vs Pibank | 4.60% | $0 |
| GO2bank vs Presidential Bank | 4.50% | $5,000 |
| GO2bank vs Santander Bank | 0.03% | $25 |
| GO2bank vs SoFi Bank | 3.80% | $0 |
| GO2bank vs Synchrony Bank | 3.80% | $0 |
| GO2bank vs TIMBR | 4.40% | $1,000 |
| GO2bank vs UFB Direct | 4.21% | $5000 |
| GO2bank vs Varo Bank | 5.00% | $0 |
| GO2bank vs Wells Fargo | 2.51% | $25 |
| GO2bank vs Zynlo Bank | 4.35% | $10 |
Compare Newtek Bank's APY of 4.35% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Newtek Bank vs Ally Bank | 3.50% | $0 |
| Newtek Bank vs American Express | 3.50% | $0 |
| Newtek Bank vs Axos Bank | 4.46% | $0 |
| Newtek Bank vs Bank of America | 0.01% | $100 |
| Newtek Bank vs Barclays | 4.10% | $0 |
| Newtek Bank vs BrioDirect | 4.30% | $5,000 |
| Newtek Bank vs Capital One | 3.50% | $0 |
| Newtek Bank vs Chase Bank | 0.01% | $0 |
| Newtek Bank vs Chime | 3.75% | $0 |
| Newtek Bank vs CIT Bank | 4.00% | $100 |
| Newtek Bank vs Discover Bank | 3.50% | $0 |
| Newtek Bank vs Elevault | 4.60% | $0 |
| Newtek Bank vs EverBank | 4.30% | $0 |
| Newtek Bank vs Fitness Bank | 4.75% | $100 |
| Newtek Bank vs FVCbank | 4.35% | $500 |
| Newtek Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Newtek Bank vs Neighbors Bank | 4.60% | $0 |
| Newtek Bank vs Peak Bank | 4.35% | $100 |
| Newtek Bank vs Pibank | 4.60% | $0 |
| Newtek Bank vs Presidential Bank | 4.50% | $5,000 |
| Newtek Bank vs Santander Bank | 0.03% | $25 |
| Newtek Bank vs SoFi Bank | 3.80% | $0 |
| Newtek Bank vs Synchrony Bank | 3.80% | $0 |
| Newtek Bank vs TIMBR | 4.40% | $1,000 |
| Newtek Bank vs UFB Direct | 4.21% | $5000 |
| Newtek Bank vs Varo Bank | 5.00% | $0 |
| Newtek Bank vs Wells Fargo | 2.51% | $25 |
| Newtek Bank vs Zynlo Bank | 4.35% | $10 |