Newtek Bank vs. Santander Bank
Comparing Newtek Bank and Santander Bank for savings: Newtek Bank's Personal High Yield Savings pays 4.20% APY while Santander Bank's Santander Savings pays 0.01% 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 $419 more than Santander Bank annually ($420 vs $1).
Choose Newtek Bank if getting the best rate matters most. Choose Santander Bank if you value in-person banking, or you want Zelle for quick transfers.
| Metric | Newtek BankPersonal High Yield Savings Apr 21, 2026 | Santander BankSantander Savings Jan 29, 2026 |
|---|---|---|
| APY | 4.20% | 0.01% |
Est. Earnings | $5,000+$210 $10,000+$420 $25,000+$1,050 | $5,000+$1 $10,000+$1 $25,000+$3 |
Min Deposit | $0.01 | $25 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredNo MinimumsGreat iOS AppDaily CompoundingRate Changes Often | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppIn-Person AccessZelle® SupportedDaily CompoundingRate Changes Often |
Comparison Analysis
Comparing Newtek Bank vs. Santander Bank
Executive Summary
Newtek Bank offers a significantly higher APY of 4.20% on its Personal High Yield Savings account, which is online-only and requires a minimum deposit of just $0.01 with no maintenance fees. This account is noted for its simplicity, as it does not require direct deposit or bundling. In contrast, Santander Bank's savings product yields a mere 0.01% APY, with a minimum deposit requirement of $25 and a $1 maintenance fee. While Santander provides a strong mobile app experience, the returns on savings are far less attractive compared to Newtek Bank.
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 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)
- ✓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. $420 vs $1/yr).
Better Returns at $25,000
Newtek BankNewtek Bank's Personal High Yield Savings pulls ahead with larger amounts (approx. $1050 vs $3/yr).
Best for Simplicity
Newtek BankNewtek Bank's Personal High Yield Savings offers 4.20% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
Santander BankSantander Bank offers an iOS app rated 4.7 (vs. 4.5) and Android app rated 4.1 (vs. 3.9)
Shared Benefits
Over a 1-year period, Newtek Bank's Personal High Yield Savings pays $419 more interest on a $10,000 balance than Santander Bank's Santander 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
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Newtek Bank vs. Santander Bank Savings Calculator
You earn $419 more with Newtek Bank than Santander 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+$420.00(4.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,420.00
Santander Bank
Santander Savings
Savings Breakdown
- Interest Earned+$1.00(0.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,001.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Newtek Bank | Santander Bank |
|---|---|---|
| APY | 4.20% Verified: 4/21/2026 ↘︎ 0.15%90d Change | 0.01% Verified: 1/29/2026 Stable (90d) |
| Product Name | Personal High Yield Savings | Santander Savings |
| Minimum Deposit | $0.01 | $25 |
| Min. Balance for APY | $0.01 | $0 |
| Monthly Fee | $0 | $1 |
| Compound Frequency | Daily | Daily |
| Branch Access | None | Yes |
| Account Type | Online Only | Online & Branches |
| Physical Branches | None | Primarily in the Northeast and Miami, Florida |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Not Supported | Available Branch-based retail accounts only. |
| BBB Rating | A+ | Not Rated |
| Next Steps | Visit SiteVerify at Newtek Bank Non-sponsored link to official site | Visit SiteVerify at Santander Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Newtek Bank | Santander Bank |
|---|---|---|
| Personal High Yield Savings | Santander Savings | |
Current APY | 4.20% | 0.01% |
Trend | Stable | Stable |
Velocity (bps/mo) | -1.6 | -0.2 |
Days Since Change | -8 | 132 |
12-Month High | 4.55% | 0.03% |
12-Month Low | 4.20% | 0.01% |
Adjustments / Mo | 0.25 | 0.08 |
Volatility Score | 0.019 | 0.462 |
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 Santander Bank's APY of 0.01% with other banks
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|---|---|---|
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| Santander Bank vs Openbank | 4.00% | $500 |
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