Newtek Bank vs. Santander 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
Santander Bank
Santander Savings
0.01%APYDec 6, 2025FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppIn-Person AccessShow Fine Print & Trends Hide Details
Santander Bank
Santander Savings
Comparison Analysis
Comparing Newtek Bank vs. Santander Bank
Why Newtek Bank?
- ✓Higher potential APY (4.35% vs 0.01%) on all balances
- ✓No checking account or direct deposit required
Why Santander Bank?
- ✓Physical branch access (Primarily in the Northeast and Miami, Florida)
— Key Feature Differences —
Better Returns at $10,000
Newtek BankNewtek Bank's Personal High Yield Savings earns more on smaller deposits (approx. $435 vs $1/yr).
Better Returns at $25,000
Newtek BankNewtek Bank's Personal High Yield Savings pulls ahead with larger amounts (approx. $1087 vs $3/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 $434 more interest on a $10,000 balance than Santander Bank's Santander Savings.
Executive Summary
Newtek Bank offers a competitive Personal High Yield Savings account with an impressive APY of 4.35%, providing better returns on both small and large deposits, with no direct deposit requirement or maintenance fees. This online-only account is ideal for those seeking simplicity and higher earnings. In contrast, Santander Bank's Savings account yields a minimal 0.01% APY, requiring a $25 minimum deposit and incurring a $1 maintenance fee, making it less attractive for savers. Overall, Newtek Bank stands out as the winner with significantly higher returns.
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 Santander Bank.
| Feature | Newtek Bank | Santander Bank |
|---|---|---|
| APY | 4.35% Verified: 12/6/2025 Stable (90d) | 0.01% Verified: 12/6/2025 ↘︎ 0.02%90d Change |
| Product Name | Personal High Yield Savings | Santander Savings |
| Minimum Deposit | $0.01 | $25 |
| Min. Balance for APY | $0.01 | $0 |
| Monthly Fee | $0 | $1 |
| Branch Access | None | Yes |
| Account Type | Online Only | Online & Branches |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.5 Android4.2 | iOS4.8 Android4.0 |
| BBB Rating | A+ | Not Rated |
| Next Steps |
Savings Comparison
Newtek Bank earns $2,656.3 more than Santander 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
Santander Bank
Santander Savings
Savings Breakdown
- Interest Earned+$5.70(0.0%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$18,005.70
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 | Santander Bank |
|---|---|---|
| Personal High Yield Savings | Santander Savings | |
Current APY | 4.35% | 0.01% |
Trend | Stable | Stable |
Velocity (bps/mo) | -1.4 | -0.2 |
Days Since Change | 239 | 78 |
10-Month High | 4.55% | 0.03% |
10-Month Low | 4.35% | 0.01% |
Adjustments / Mo | 0.19 | 0.09 |
Volatility Score | 0.014 | 0.375 |
How to read these metrics(Click to expand)
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