MutualOne Bank vs. Newtek Bank
Comparing MutualOne Bank and Newtek Bank for high-yield savings: MutualOne Bank's Mo Premium Savings pays 4.07% 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 $420 more than MutualOne Bank annually ($420 vs $0).
Choose MutualOne Bank if you value in-person banking, or you want Zelle for quick transfers. Choose Newtek Bank if getting the best rate matters most.
| Metric | MutualOne BankMo Premium Savings Feb 21, 2026 | Newtek BankPersonal High Yield Savings Feb 21, 2026 |
|---|---|---|
| APY | 4.07% | 4.20% |
Est. Earnings | $5,000+$0 $10,000+$0 $25,000+$1,018 | $5,000+$210 $10,000+$420 $25,000+$1,050 |
Min Deposit | $20,000 | $0.01 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredHigh MinimumGreat iOS AppGreat Android AppIn-Person AccessZelle® SupportedStable Rate | FDIC InsuredNo MinimumsGreat iOS AppDaily CompoundingRate Changes Often |
Comparison Analysis
Comparing MutualOne Bank vs. Newtek Bank
Executive Summary
Newtek Bank offers a competitive Personal High Yield Savings account with an APY of 4.20%, making it the higher-yielding option compared to MutualOne Bank's Mo Premium Savings, which has an APY of 4.07%. While both accounts have no maintenance fees, Newtek Bank requires a minimum deposit of only $0.01, whereas MutualOne Bank requires a minimum deposit of $20,000. Additionally, Newtek Bank's account compounds daily, potentially providing a slight advantage in interest accumulation over MutualOne Bank's monthly compounding. Both banks provide online-only services and do not require direct deposit.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why MutualOne Bank?
- ✓Physical branch access (Full-service banking offices in Framingham, MA, and Natick, MA)
- ✓Higher rated iOS app (4.9 vs 4.5)
- ✓Higher rated Android app (4.4 vs 4.0)
- ✓Fast transfers via Zelle®
Why Newtek Bank?
- ✓Higher potential APY (4.20% vs 4.07%) 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 $0/yr).
Better Returns at $25,000
Newtek BankNewtek Bank's Personal High Yield Savings pulls ahead with larger amounts (approx. $1050 vs $1018/yr).
Best Mobile App Experience
MutualOne BankMutualOne Bank offers an iOS app rated 4.9 (vs. 4.5) and Android app rated 4.4 (vs. 4.0)
Shared Benefits
Over a 1-year period, Newtek Bank's Personal High Yield Savings pays $13 more interest on a $10,000 balance than MutualOne Bank's Mo Premium 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
MutualOne Bank vs. Newtek Bank Savings Calculator
You earn $26 more with Newtek Bank than MutualOne Bank on a $20,000 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.
MutualOne Bank
Mo Premium Savings
Savings Breakdown
- Interest Earned+$814.00(3.9%)
- Total Contributions$0
- Initial Deposit$20,000
Projected Balance
$20,814.00
Newtek Bank
Personal High Yield Savings
Savings Breakdown
- Interest Earned+$840.00(4.0%)
- Total Contributions$0
- Initial Deposit$20,000
Projected Balance
$20,840.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | MutualOne Bank | Newtek Bank |
|---|---|---|
| APY | 4.07% Verified: 2/21/2026 Stable (90d) | 4.20% Verified: 2/21/2026 ↘︎ 0.15%90d Change |
| Product Name | Mo Premium Savings | Personal High Yield Savings |
| Minimum Deposit | $20,000 | $0.01 |
| Min. Balance for APY | $20,000 | $0.01 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Monthly | Daily |
| Branch Access | Yes | None |
| Account Type | Online & Branches | Online Only |
| Physical Branches | Full-service banking offices in Framingham, MA, and Natick, MA | None |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Available Verified via website and app descriptions. | Not Supported |
| BBB Rating | A+ | A+ |
| Next Steps | Visit SiteVerify at MutualOne 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 | MutualOne Bank | Newtek Bank | |
|---|---|---|---|
| Online Savings | Mo Premium Savings | Personal High Yield Savings | |
Current APY | 0.40% | 4.07% | 4.20% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | 0.0 | -0.0 | -1.6 |
Days Since Change | 162 | 162 | 15 |
5-Month High | 0.40% | 4.07% | 4.35% |
5-Month Low | 0.40% | 4.07% | 4.20% |
Adjustments / Mo | 0.00 | 0.00 | 0.19 |
Volatility Score | 0.000 | 0.000 | 0.011 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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More Comparisons
Compare MutualOne Bank's APY of 4.07% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| MutualOne Bank vs Ally Bank | 3.20% | $0 |
| MutualOne Bank vs American Express | 3.30% | $0 |
| MutualOne Bank vs Axos Bank | 4.21% | $0 |
| MutualOne Bank vs Bank of America | 0.01% | $100 |
| MutualOne Bank vs Barclays | 3.85% | $0 |
| MutualOne Bank vs Capital One | 3.30% | $0 |
| MutualOne Bank vs Chase Bank | 0.01% | $0 |
| MutualOne Bank vs Chime | 3.00% | $0 |
| MutualOne Bank vs CIT Bank | 3.75% | $100 |
| MutualOne Bank vs Citibank | 3.20% | $0 |
| MutualOne Bank vs Discover Bank | 3.30% | $0 |
| MutualOne Bank vs EverBank | 3.90% | $0 |
| MutualOne Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| MutualOne Bank vs Openbank | 4.09% | $500 |
| MutualOne Bank vs Pibank | 4.60% | $0 |
| MutualOne Bank vs SoFi Bank | 4.00% | $0 |
| MutualOne Bank vs Synchrony Bank | 3.50% | $0 |
| MutualOne Bank vs Varo Bank | 5.00% | $0 |
| MutualOne Bank vs Wealthfront | 3.95% | $0 |
| MutualOne Bank vs Wells Fargo | 0.05% | $25 |