Newtek Bank vs Synchrony Bank
High-Yield Savings Accounts Comparison
Last Updated: September 5, 2025
We earn a commission if you open an account through some links on this page.
Summary of Newtek Bank vs. Synchrony 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 Synchrony Bank's 3.80% APY for its High Yield Savings account, with a minimum balance of $0.
Newtek Bank yields $55 more than Synchrony Bank on a $10,000 balance after one year. Newtek Bank pays $435, while Synchrony Bank pays $380 - an APY advantage for Newtek Bank.
Newtek Bank
Strengths
- Newtek Bank offers a higher APY of 4.35% compared to Synchrony Bank's 3.80%.
- Newtek Bank has an A+ BBB rating and is BBB Accredited.
- Newtek Bank has no maintenance fees for its savings account.
Potential Drawbacks
- Newtek Bank has no physical branches available.
- Newtek Bank's App Store rating is lower than Synchrony Bank's at 4.5.
Synchrony Bank
Strengths
- Synchrony Bank has a higher App Store rating of 4.8 compared to Newtek Bank's 4.5.
- Synchrony Bank has a higher Google Play rating of 4.5 compared to Newtek Bank's 4.2.
Potential Drawbacks
- Synchrony Bank's APY is lower at 3.80% compared to Newtek Bank's 4.35%.
- Synchrony Bank is not rated by the BBB.
Summary: Newtek Bank offers a significantly higher APY of 4.35% versus Synchrony Bank's 3.80%. However, Synchrony Bank boasts better App Store and Google Play ratings. Newtek Bank holds an A+ BBB rating, while Synchrony Bank lacks a BBB rating altogether. Both banks have no maintenance fees and no physical branches, but Newtek Bank's higher APY may be more appealing to savers.
Compare Newtek Bank's vs Synchrony Bank's Savings Accounts
| Newtek Bank | Synchrony Bank | ||
|---|---|---|---|
| Product | Personal High Yield Savings | vs | High Yield Savings |
| APY | 4.35% (as of 9/5/2025) | 3.80% (as of 9/5/2025) | |
| Bundled Account | No | No | |
| FDIC-insured | Yes | Yes | |
| Online Only | Yes | Yes | |
| Compound Frequency | Daily | Daily | |
| Minimum Deposit | $0 | $0 | |
| Minimum Balance for APY | $0.01 | $0 | |
| Maintenance Fee | $0 | $0 | |
| Direct Deposit Required | No | No | |
| App Store Rating | 4.5/5 | 4.8/5 | |
| Google Play Rating | 4.2/5 | 4.5/5 | |
| BBB Rating | A+ | Not Rated |
Comparative Historical APY Insights (Last 7 Months)
| Newtek Bank | Synchrony Bank | ||
|---|---|---|---|
| Product | Personal High Yield Savings | vs | High Yield Savings |
| Latest APY | 4.35 % | 3.80 % | |
| Trend | Sideways | Sideways | |
| Slope (bps/mo) | -2.6 | -4.3 | |
| Rate Changes / Mo | 0.27 | 0.27 | |
| Days Since Last Change | 147 | 94 | |
| High (-7 m) | 4.55 % | 4.10 % | |
| Low (-7 m) | 4.35 % | 3.80 % | |
| Draw-down from High | -4.4 % | -7.3 % | |
| Volatility (CV) | 0.016 | 0.027 |
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 Synchrony 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 OverviewSynchrony Bank
APY: 3.80%
Total savings breakdown:
- Interest earned: $2,305.9 (11.36%)
- Total contributions: $13,000 (64.02%)
- Initial deposit: $5,000 (24.62%)
Your total balance
$20,305.90
Effective APY: 3.80% (based on your deposit and contributions)
Total balance: $20,305.9
Earnings: $2,305.9
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, Newtek Bank's total earnings would be $356.1 higher than Synchrony 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 Santander Bank | 0.03% | $25 |
| Newtek Bank vs SoFi 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 |