Newtek Bank vs. Santander 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 | Santander BankSantander Savings Jan 21, 2026 |
|---|---|---|
| APY | 4.35% | 0.01% |
Est. Earnings | $5,000+$217 $10,000+$435 $25,000+$1,088 | $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 AppGreat Android App | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppIn-Person AccessZelle® Supported |
Comparison Analysis
Comparing Newtek Bank vs. Santander 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 Santander Bank's 0.01% APY for its Santander Savings account, with a minimum balance of $0.
Newtek Bank pays $434 more than Santander Bank on a $10,000 balance after one year. Newtek Bank pays $435, while Santander Bank pays $1 - an APY advantage for Newtek 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)
- ✓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 $1/yr).
Better Returns at $25,000
Newtek BankNewtek Bank's Personal High Yield Savings pulls ahead with larger amounts (approx. $1088 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.
*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 an impressive APY of 4.35%, making it a superior choice for savers compared to Santander Bank's Savings account, which yields only 0.01% APY. Newtek's account requires a minimum deposit of just $0.01 and has no maintenance fees or direct deposit requirements, making it ideal for simplicity. In contrast, Santander's account has a minimum deposit of $25 and incurs a $1 maintenance fee. Overall, Newtek Bank's high yield savings option is significantly more beneficial for those looking to maximize their savings.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
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 $434 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+$435.00(4.2%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,435.00
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 | 4.35% Verified: 1/21/2026 Stable (90d) | 0.01% Verified: 1/21/2026 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 |
| Branch Access | None | Yes |
| Account Type | Online Only | Online & Branches |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.5 Android4.0 | iOS4.8 Android4.0 |
| 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 | 4.35% | 0.01% |
Trend | Stable | Stable |
Velocity (bps/mo) | -1.1 | -0.2 |
Days Since Change | 285 | 124 |
12-Month High | 4.55% | 0.03% |
12-Month Low | 4.35% | 0.01% |
Adjustments / Mo | 0.16 | 0.08 |
Volatility Score | 0.013 | 0.450 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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