Newtek Bank vs. Presidential Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Newtek BankPersonal High Yield Savings Jan 21, 2026 | Presidential BankAdvantage Savings Jan 21, 2026 |
|---|---|---|
| APY | 4.35% | 3.25% - 3.75% |
Est. Earnings | $5,000+$217 $10,000+$435 $25,000+$1,088 | $5,000+$188 $10,000+$375 $25,000+$938 |
Min Deposit | $0.01 | $5,000 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android App | FDIC InsuredMod. MinimumGreat iOS AppGreat Android AppIn-Person AccessZelle® SupportedDirect Deposit ReqChecking Bundle |
Comparison Analysis
Comparing Newtek Bank vs. Presidential Bank
As of Newtek Bank offers an APY of 4.35% for its Personal High Yield Savings account, with a minimum balance of $0.01, compared to Presidential Bank's 3.75% APY for its Advantage Savings account, with a minimum balance of N/A.
Newtek Bank pays $60 more than Presidential Bank on a $10,000 balance after one year. Newtek Bank pays $435, while Presidential Bank pays $375 - an APY advantage for Newtek Bank.
Why Newtek Bank?
- ✓Higher potential APY (4.35% vs 3.75%) 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.)
- ✓Fast transfers via Zelle®
— Key Feature Differences —
Better Returns at $10,000
Newtek BankNewtek Bank's Personal High Yield Savings earns more on smaller deposits (approx. $435 vs $375/yr).
Better Returns at $25,000
Newtek BankNewtek Bank's Personal High Yield Savings pulls ahead with larger amounts (approx. $1088 vs $938/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
Presidential BankPresidential Bank offers an iOS app rated 4.8 (vs. 4.5) and Android app rated 4.2 (vs. 4.0)
Shared Benefits
Over a 1-year period, Newtek Bank's Personal High Yield Savings pays $60 more interest on a $10,000 balance than Presidential Bank's Advantage Savings.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary as of
Newtek Bank offers a standout Personal High Yield Savings account with a competitive 4.35% APY, making it an attractive option for savers, especially given its lack of direct deposit requirements and no maintenance fees. This account is online-only and allows for deposits as low as $0.01, providing flexibility for customers. In contrast, Presidential Bank's Advantage Savings account features a lower APY of 3.75%, but requires a monthly direct deposit of $500 into an Advantage Checking Account to earn this rate. While both banks have no maintenance fees, Newtek Bank's higher APY and simpler requirements position it as the more favorable choice.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
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Top Market Contenders
Newtek Bank vs. Presidential Bank Savings Calculator
You earn $60 more with Newtek Bank than Presidential Bank 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+$435.00(4.2%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,435.00
Presidential Bank
Advantage Savings
Savings Breakdown
- Interest Earned+$375.00(3.6%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,375.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Newtek Bank | Presidential Bank |
|---|---|---|
| APY | 4.35% Verified: 1/21/2026 Stable (90d) | 3.75% Range: 3.25% - 3.75% Verified: 1/21/2026 ↘︎ 0.75%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 Android4.0 | iOS4.8 Android4.2 |
| Zelle® Support | Not Supported | Available Native integration; Advantage Savings supports Zelle. |
| BBB Rating | A+ | A- |
| Next Steps | Visit SiteVerify at Newtek Bank Non-sponsored link to official site | Visit SiteVerify at Presidential Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Newtek Bank | Presidential Bank |
|---|---|---|
| Personal High Yield Savings | Advantage Savings | |
Current APY | 4.35% | 3.75% |
Trend | Stable | Stable |
Velocity (bps/mo) | -1.1 | -5.4 |
Days Since Change | 285 | 35 |
12-Month High | 4.55% | 4.50% |
12-Month Low | 4.35% | 3.75% |
Adjustments / Mo | 0.16 | 0.25 |
Volatility Score | 0.013 | 0.063 |
How to read these metrics(Click to expand)
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