Newtek Bank vs. Popular Direct
Comparing Newtek Bank and Popular Direct for high-yield savings: Newtek Bank's Personal High Yield Savings pays 4.20% APY while Popular Direct's Popular Direct Select Savings pays 3.90% 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 $30 more than Popular Direct annually ($420 vs $390).
Choose Newtek Bank if getting the best rate matters most, or mobile app quality matters.
| Metric | Newtek BankPersonal High Yield Savings Feb 21, 2026 | Popular DirectPopular Direct Select Savings Feb 21, 2026 |
|---|---|---|
| APY | 4.20% | 3.90% |
Est. Earnings | $5,000+$210 $10,000+$420 $25,000+$1,050 | $5,000+$195 $10,000+$390 $25,000+$975 |
Min Deposit | $0.01 | $100 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredNo MinimumsGreat iOS AppDaily CompoundingRate Changes Often | FDIC InsuredLow MinimumsDaily 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 Newtek Bank vs. Popular Direct
Executive Summary
Newtek Bank offers a competitive Personal High Yield Savings account with an APY of 4.20%, making it the superior choice compared to Popular Direct's Select Savings account, which has an APY of 3.90%. Newtek Bank's account stands out for its simplicity, requiring no direct deposit and having no maintenance fees, with a minimum deposit of just $0.01. In contrast, Popular Direct requires a minimum deposit of $100. Both accounts are online-only and FDIC insured, but Newtek Bank provides a higher return on savings.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Newtek Bank?
- ✓Higher potential APY (4.20% vs 3.90%) on all balances
- ✓Higher rated iOS app (4.5 vs 1.3)
Why Popular Direct?
No distinct advantages found vs Newtek Bank.
— Key Feature Differences —
Better Returns at $10,000
Newtek BankNewtek Bank's Personal High Yield Savings earns more on smaller deposits (approx. $420 vs $390/yr).
Better Returns at $25,000
Newtek BankNewtek Bank's Personal High Yield Savings pulls ahead with larger amounts (approx. $1050 vs $975/yr).
Best for Simplicity
Newtek BankNewtek Bank's Personal High Yield Savings offers 4.20% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Newtek Bank's Personal High Yield Savings pays $30 more interest on a $10,000 balance than Popular Direct's Popular Direct Select 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
Newtek Bank vs. Popular Direct Savings Calculator
You earn $30 more with Newtek Bank than Popular Direct 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.
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
Popular Direct
Popular Direct Select Savings
Savings Breakdown
- Interest Earned+$390.00(3.8%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,390.00
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 $389 per year in interest.
Both Newtek Bank and Popular Direct dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Newtek Bank | Popular Direct |
|---|---|---|
| APY | 4.20% Verified: 2/21/2026 ↘︎ 0.15%90d Change | 3.90% Verified: 2/21/2026 ↘︎ 0.10%90d Change |
| Product Name | Personal High Yield Savings | Popular Direct Select Savings |
| Minimum Deposit | $0.01 | $100 |
| Min. Balance for APY | $0.01 | $0.01 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Daily | Daily |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Physical Branches | None | None. You cannot make use of Popular Bank's branches. |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Not Supported | Not Supported |
| BBB Rating | A+ | A+ |
| Next Steps | Visit SiteVerify at Newtek Bank Non-sponsored link to official site | Visit SiteVerify at Popular Direct Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Newtek Bank | Popular Direct |
|---|---|---|
| Personal High Yield Savings | Popular Direct Select Savings | |
Current APY | 4.20% | 3.90% |
Trend | Stable | Stable |
Velocity (bps/mo) | -0.9 | -1.9 |
Days Since Change | 15 | 68 |
12-Month High | 4.45% | 4.30% |
12-Month Low | 4.20% | 3.90% |
Adjustments / Mo | 0.16 | 0.58 |
Volatility Score | 0.011 | 0.021 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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More Comparisons
Compare Newtek Bank's APY of 4.20% with other banks
Compare Popular Direct's APY of 3.90% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Popular Direct vs Ally Bank | 3.20% | $0 |
| Popular Direct vs American Express | 3.30% | $0 |
| Popular Direct vs Axos Bank | 4.21% | $0 |
| Popular Direct vs Bank of America | 0.01% | $100 |
| Popular Direct vs Barclays | 3.85% | $0 |
| Popular Direct vs Capital One | 3.30% | $0 |
| Popular Direct vs Chase Bank | 0.01% | $0 |
| Popular Direct vs Chime | 3.00% | $0 |
| Popular Direct vs CIT Bank | 3.75% | $100 |
| Popular Direct vs Citibank | 3.20% | $0 |
| Popular Direct vs Discover Bank | 3.30% | $0 |
| Popular Direct vs EverBank | 3.90% | $0 |
| Popular Direct vs Marcus by Goldman Sachs | 3.65% | $0 |
| Popular Direct vs Openbank | 4.09% | $500 |
| Popular Direct vs Pibank | 4.60% | $0 |
| Popular Direct vs SoFi Bank | 4.00% | $0 |
| Popular Direct vs Synchrony Bank | 3.50% | $0 |
| Popular Direct vs Varo Bank | 5.00% | $0 |
| Popular Direct vs Wealthfront | 3.95% | $0 |
| Popular Direct vs Wells Fargo | 0.05% | $25 |