MutualOne Bank vs. Newtek Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | MutualOne BankMo Premium Savings Jan 7, 2026 | Newtek BankPersonal High Yield Savings Jan 7, 2026 |
|---|---|---|
| APY | 4.07% | 4.35% |
Est. Earnings | $5,000+$0 $10,000+$0 $25,000+$1,018 | $5,000+$217 $10,000+$435 $25,000+$1,088 |
Min Deposit | $20,000 | $0.01 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredHigh MinimumGreat iOS AppGreat Android AppIn-Person AccessZelle® Supported | FDIC InsuredNo MinimumsGreat iOS AppGreat Android App |
Comparison Analysis
Comparing MutualOne Bank vs. Newtek Bank
As of MutualOne Bank offers an APY of 4.07% for its Mo Premium Savings account, with a minimum balance of $20,000, compared to Newtek Bank's 4.35% APY for its Personal High Yield Savings account, with a minimum balance of $0.01.
Newtek Bank pays $28 more than MutualOne Bank on a $10,000 balance after one year. MutualOne Bank pays $407, while Newtek Bank pays $435 - an APY advantage for Newtek Bank.
In addition, MutualOne Bank also offers 0.40% APY for the Online Savings account, with a minimum balance of 0.
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 4.1)
- ✓Fast transfers via Zelle®
Why Newtek Bank?
- ✓Higher potential APY (4.35% 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. $435 vs $0/yr).
Better Returns at $25,000
Newtek BankNewtek Bank's Personal High Yield Savings pulls ahead with larger amounts (approx. $1088 vs $1018/yr).
Best for Simplicity
Newtek BankNewtek Bank's Personal High Yield Savings offers 4.35% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
MutualOne BankMutualOne Bank offers an iOS app rated 4.9 (vs. 4.5) and Android app rated 4.4 (vs. 4.1)
Shared Benefits
Over a 1-year period, Newtek Bank's Personal High Yield Savings pays $28 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.
Executive Summary as of
Newtek Bank stands out with its Personal High Yield Savings account, offering a competitive APY of 4.35%, significantly higher than MutualOne Bank's Mo Premium Savings account, which provides an APY of 4.07%. Newtek Bank's account requires a minimal deposit of just $0.01 and has no maintenance fees, making it accessible for a wider range of customers. In contrast, MutualOne Bank's account requires a minimum deposit of $20,000. Both banks offer online-only savings products, but Newtek Bank's account is noted for its simplicity and better returns at various deposit levels.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
MutualOne Bank vs. Newtek Bank Savings Calculator
You earn $56 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+$870.00(4.2%)
- Total Contributions$0
- Initial Deposit$20,000
Projected Balance
$20,870.00
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: 1/7/2026 Stable (90d) | 4.35% Verified: 1/7/2026 Stable (90d) |
| 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 |
| Branch Access | Yes | None |
| Account Type | Online & Branches | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.9 Android4.4 | iOS4.5 Android4.1 |
| 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% | 4.35% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | 0.0 | -0.0 | -0.0 |
Days Since Change | 114 | 114 | 114 |
4-Month High | 0.40% | 4.07% | 4.35% |
4-Month Low | 0.40% | 4.07% | 4.35% |
Adjustments / Mo | 0.00 | 0.00 | 0.00 |
Volatility Score | 0.000 | 0.000 | 0.000 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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