Newtek Bank vs. Presidential Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
Newtek Bank
Personal High Yield Savings
4.35%APYDec 6, 2025FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppShow Fine Print & Trends Hide Details
Newtek Bank
Personal High Yield Savings
Presidential Bank
Advantage Savings
Up to4.00%APYDec 6, 2025FDIC InsuredMod. MinimumDirect Deposit ReqChecking BundleGreat iOS AppGreat Android AppIn-Person AccessRange: 3.50% – 4.00%Show Fine Print & Trends Hide Details
Presidential Bank
Advantage Savings
Comparison Analysis
Comparing Newtek Bank vs. Presidential Bank
Why Newtek Bank?
- ✓Higher potential APY (4.35% vs 4.00%) on all balances
- ✓No checking account or direct deposit required
Why Presidential Bank?
- ✓Physical branch access (10 locations in Maryland, Virginia and Washington D.C.)
— Key Feature Differences —
Better Returns at $10,000
Newtek BankNewtek Bank's Personal High Yield Savings earns more on smaller deposits (approx. $435 vs $400/yr).
Better Returns at $25,000
Newtek BankNewtek Bank's Personal High Yield Savings pulls ahead with larger amounts (approx. $1087 vs $1000/yr).
Best for Simplicity
Newtek BankNewtek Bank's Personal High Yield Savings offers 4.35% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Newtek Bank's Personal High Yield Savings pays $35 more interest on a $10,000 balance than Presidential Bank's Advantage Savings.
Executive Summary
Newtek Bank offers a competitive Personal High Yield Savings account with an APY of 4.35%, making it an attractive option for savers, especially since it requires no direct deposit and has no maintenance fees. This account is online-only and allows for deposits as low as $0.01. In comparison, Presidential Bank's Advantage Savings account provides a lower APY of 4.00%, but requires a monthly direct deposit of $500 into an Advantage Checking Account to earn this rate, along with a minimum deposit of $5,000. Overall, Newtek Bank's offering stands out for its higher yield and simpler access.
Analysis generated based on current Banksparency database records
* AI-generated content provided for informational purposes only. Accuracy is not guaranteed; always verify details with the provider.
Top Market Contenders
See who beats both Newtek Bank and Presidential Bank.
| Feature | Newtek Bank | Presidential Bank |
|---|---|---|
| APY | 4.35% Verified: 12/6/2025 Stable (90d) | 4.00% Range: 3.50% - 4.00% Verified: 12/6/2025 ↘︎ 0.50%90d Change |
| Product Name | Personal High Yield Savings | Advantage Savings |
| Minimum Deposit | $0.01 | $5,000 |
| Min. Balance for APY | $0.01 | N/A |
| Monthly Fee | $0 | $0 |
| Branch Access | None | Yes |
| Account Type | Online Only | Online & Branches |
| Direct Deposit Req. | None | RequiredTo earn the higher APY you need a monthly direct deposit into an Advantage Checking Account of $500. |
| Checking Bundle | No | Yes |
| Mobile Apps | iOS4.5 Android4.2 | iOS4.8 Android4.1 |
| BBB Rating | A+ | A- |
| Next Steps |
Savings Comparison
Newtek Bank earns $227.3 more than Presidential Bank.
Newtek Bank
Personal High Yield Savings
Savings Breakdown
- Interest Earned+$2,662.00(12.9%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,662.00
Presidential Bank
Advantage Savings
Savings Breakdown
- Interest Earned+$2,434.70(11.9%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,434.70
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Newtek Bank | Presidential Bank |
|---|---|---|
| Personal High Yield Savings | Advantage Savings | |
Current APY | 4.35% | 4.00% |
Trend | Stable | Stable |
Velocity (bps/mo) | -2.0 | -2.0 |
Days Since Change | 239 | 15 |
12-Month High | 4.90% | 4.50% |
12-Month Low | 4.35% | 4.00% |
Adjustments / Mo | 0.34 | 0.17 |
Volatility Score | 0.022 | 0.030 |
How to read these metrics(Click to expand)
Compare Similar Alternatives
Compare Newtek Bank vs...
Comparing against Standard Savings
Compare Presidential Bank vs...
Comparing against other Bundled Accounts