Newtek Bank vs Santander Bank
High-Yield Savings Accounts Comparison
Last Updated: September 5, 2025
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Summary of Newtek Bank vs. Santander Bank
As of September 5, 2025 Newtek Bank offers an APY of 4.35% for its Personal High Yield Savings account, with a minimum balance of $0.01, compared to Santander Bank's 0.03% APY for its Santander Savings account, with a minimum balance of $0.
Newtek Bank yields $432 more than Santander Bank on a $10,000 balance after one year. Newtek Bank pays $435, while Santander Bank pays $3 - an APY advantage for Newtek Bank.
Newtek Bank
Strengths
- Newtek Bank offers a high APY of 4.35%, significantly higher than Santander Bank's 0.03%.
- Newtek Bank has no maintenance fees, while Santander Bank charges a $1 fee.
- Newtek Bank has an A+ BBB rating and is BBB Accredited.
Potential Drawbacks
- Newtek Bank has no physical branches, limiting in-person banking options.
Santander Bank
Strengths
- Santander Bank has physical branches, providing in-person banking services.
- Santander Bank has a higher App Store rating of 4.8 compared to Newtek Bank's 4.5.
Potential Drawbacks
- Santander Bank's APY of 0.03% is significantly lower than Newtek Bank's 4.35%.
- Santander Bank charges a $1 maintenance fee, unlike Newtek Bank.
Summary: Newtek Bank's high-yield savings account offers a much higher APY of 4.35% with no fees, while Santander Bank's account has a minimal APY of 0.03% and a $1 maintenance fee. Santander provides physical branches and a better App Store rating, but lacks the same level of accreditation and competitive interest rates as Newtek Bank.
Compare Newtek Bank's vs Santander Bank's Savings Accounts
| Newtek Bank | Santander Bank | ||
|---|---|---|---|
| Product | Personal High Yield Savings | vs | Santander Savings |
| APY | 4.35% (as of 9/5/2025) | 0.03% (as of 9/5/2025) | |
| Bundled Account | No | No | |
| FDIC-insured | Yes | Yes | |
| Online Only | Yes | No | |
| Compound Frequency | Daily | Daily | |
| Minimum Deposit | $0 | $25 | |
| Minimum Balance for APY | $0.01 | $0 | |
| Maintenance Fee | $0 | $1 | |
| Direct Deposit Required | No | No | |
| App Store Rating | 4.5/5 | 4.8/5 | |
| Google Play Rating | 4.2/5 | 4.3/5 | |
| BBB Rating | A+ | A- |
Comparative Historical APY Insights (Last 7 Months)
| Newtek Bank | Santander Bank | ||
|---|---|---|---|
| Product | Personal High Yield Savings | vs | Santander Savings |
| Latest APY | 4.35 % | 0.03 % | |
| Trend | Sideways | Sideways | |
| Slope (bps/mo) | -2.6 | 0.0 | |
| Rate Changes / Mo | 0.27 | 0.00 | |
| Days Since Last Change | 147 | 226 | |
| High (-7 m) | 4.55 % | 0.03 % | |
| Low (-7 m) | 4.35 % | 0.03 % | |
| Draw-down from High | -4.4 % | 0.0 % | |
| Volatility (CV) | 0.016 | 0.000 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 7 months (regression slope).
- Slope (bps/mo)
- Average monthly change; 10 bps = 0.10 pp.
- Rate Changes / Mo
- Typical number of APY moves per month.
- Days Since Last Change
- Recency of the latest APY adjustment.
- High (-7 m)
- Highest APY in the last 226 days.
- Low (-7 m)
- Lowest APY in the last 226 days.
- Draw-down from High
- How far today sits below the 7-month peak.
- Volatility (CV)
- Coefficient of variation = stdev ÷ mean.
Why Track Savings-Account APYs?
- See how quickly a bank reacts to Fed moves or competition.
- Gauge “twitchiness” - frequent moves can annoy savers.
- Spot if you're buying near a peak (draw-down) or riding a rise.
- Slope (bps/mo) shows speed of change.
- Volatility (CV) scales jumps by average level.
Calculate Savings Growth for Newtek Bank vs Santander Bank
All calculations are based on APY.
Newtek Bank
APY: 4.35%
Total savings breakdown:
- Interest earned: $2,662 (12.88%)
- Total contributions: $13,000 (62.92%)
- Initial deposit: $5,000 (24.20%)
Your total balance
$20,662.00
Effective APY: 4.35% (based on your deposit and contributions)
Total balance: $20,662
Earnings: $2,662
Bank OverviewSantander Bank
APY: 0.03%
Total savings breakdown:
- Interest earned: $17.2 (0.10%)
- Total contributions: $13,000 (72.15%)
- Initial deposit: $5,000 (27.75%)
Your total balance
$18,017.20
Effective APY: 0.03% (based on your deposit and contributions)
Total balance: $18,017.2
Earnings: $17.2
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, Newtek Bank's total earnings would be $2,644.8 higher than Santander Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
More Comparisons
Compare Newtek Bank's APY of 4.35% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Newtek Bank vs Ally Bank | 3.50% | $0 |
| Newtek Bank vs American Express | 3.50% | $0 |
| Newtek Bank vs Axos Bank | 4.46% | $0 |
| Newtek Bank vs Bank of America | 0.01% | $100 |
| Newtek Bank vs Barclays | 4.10% | $0 |
| Newtek Bank vs BrioDirect | 4.30% | $5,000 |
| Newtek Bank vs Capital One | 3.50% | $0 |
| Newtek Bank vs Chase Bank | 0.01% | $0 |
| Newtek Bank vs Chime | 3.75% | $0 |
| Newtek Bank vs CIT Bank | 4.00% | $100 |
| Newtek Bank vs Discover Bank | 3.50% | $0 |
| Newtek Bank vs Elevault | 4.60% | $0 |
| Newtek Bank vs EverBank | 4.30% | $0 |
| Newtek Bank vs Fitness Bank | 4.75% | $100 |
| Newtek Bank vs FVCbank | 4.35% | $500 |
| Newtek Bank vs GO2bank | 4.50% | $0 |
| Newtek Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Newtek Bank vs Neighbors Bank | 4.60% | $0 |
| Newtek Bank vs Peak Bank | 4.35% | $100 |
| Newtek Bank vs Pibank | 4.60% | $0 |
| Newtek Bank vs Presidential Bank | 4.50% | $5,000 |
| Newtek Bank vs SoFi Bank | 3.80% | $0 |
| Newtek Bank vs Synchrony Bank | 3.80% | $0 |
| Newtek Bank vs TIMBR | 4.40% | $1,000 |
| Newtek Bank vs UFB Direct | 4.21% | $5000 |
| Newtek Bank vs Varo Bank | 5.00% | $0 |
| Newtek Bank vs Wells Fargo | 2.51% | $25 |
| Newtek Bank vs Zynlo Bank | 4.35% | $10 |