Ivy Bank vs. Newtek Bank
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: November 12, 2025
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Summary of Ivy Bank vs. Newtek Bank
Key Metrics at a Glance
| Feature | Ivy Bank | Newtek Bank |
|---|---|---|
| Top Savings APY | 4.25% High-Yield Savings Account | 4.35% Personal High Yield Savings |
| Minimum to Open | $2,500 | $0 |
| Minimum Balance for Top APY | $2,500 | $0.01 |
Ivy Bank
Strengths
- Ivy Bank offers a competitive APY of 4.25%.
- Ivy Bank has a higher App Store rating of 4.7.
- No maintenance fees for Ivy Bank's High-Yield Savings Account.
Potential Drawbacks
- Ivy Bank's BBB rating is A- and not accredited.
- Ivy Bank requires a minimum deposit of $2,500.
Newtek Bank
Strengths
- Newtek Bank has a slightly higher APY of 4.35%.
- Newtek Bank is BBB accredited with an A+ rating.
- No minimum deposit required for Newtek Bank's savings account.
Potential Drawbacks
- Newtek Bank's App Store rating is lower at 4.5.
- No branch locations available for Newtek Bank.
→ As of November 12, 2025 Ivy Bank offers an APY of 4.25% for its High-Yield Savings Account, with a minimum balance of $2,500, compared to Newtek Bank's 4.35% APY for its Personal High Yield Savings account, with a minimum balance of $0.01.
→ Newtek Bank yields $10 more than Ivy Bank on a $10,000 balance after one year. Ivy Bank pays $425, while Newtek Bank pays $435 - an APY advantage for Newtek Bank.
Calculate Savings Growth for Ivy Bank vs Newtek Bank
Ivy Bank - High-Yield Savings Account
Total savings breakdown:
- Interest earned: $2,596.8 (12.61%)
- Total contributions: $13,000 (63.12%)
- Initial deposit: $5,000 (24.28%)
Your total balance
$20,596.80
Total balance: $20,596.8
Earnings: $2,596.8
Bank OverviewNewtek Bank - Personal High Yield Savings
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
Total balance: $20,662
Earnings: $2,662
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, Ivy Bank's total earnings would be $65.2 lower than Newtek Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare Ivy Bank's vs Newtek Bank's Savings Accounts
| Ivy Bank | Newtek Bank | ||
|---|---|---|---|
| Product | High-Yield Savings Account | vs | Personal High Yield Savings |
| APY | 0.05% - 4.25% (as of 11/12/2025) | 4.35% (as of 11/12/2025) | |
| Bundled Account | No | No | |
| FDIC-insured | Yes | Yes | |
| Online Only | Yes | Yes | |
| Compound Frequency | Daily | Daily | |
| Minimum Deposit | $2,500 | $0 | |
| Minimum Balance for APY | $2,500 | $0.01 | |
| Maintenance Fee | $0 | $0 | |
| Direct Deposit Required | No | No | |
| Eligibility | Residents of California and U.S. Territories (except District of Columbia) are ineligible to apply. | United States | |
| App Store Rating | 4.7/5 | 4.5/5 | |
| Google Play Rating | 3.5/5 | 4.2/5 | |
| BBB Rating | A- | A+ |
No historical data available.