Newtek Bank vs. Synchrony 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 | Synchrony BankHigh Yield Savings Jan 21, 2026 |
|---|---|---|
| APY | 4.35% | 3.65% |
Est. Earnings | $5,000+$217 $10,000+$435 $25,000+$1,088 | $5,000+$183 $10,000+$365 $25,000+$912 |
Min Deposit | $0.01 | $0 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android App | FDIC InsuredNo MinimumsGreat iOS AppGreat Android App |
Prefer In-Person Banking?
Both of these banks are online-only. If you need physical branch access, check out our list of high-yield accounts with brick-and-mortar locations.
Comparison Analysis
Comparing Newtek Bank vs. Synchrony 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 Synchrony Bank's 3.65% APY for its High Yield Savings account, with a minimum balance of $0.
Newtek Bank pays $70 more than Synchrony Bank on a $10,000 balance after one year. Newtek Bank pays $435, while Synchrony Bank pays $365 - an APY advantage for Newtek Bank.
Why Newtek Bank?
- ✓Higher potential APY (4.35% vs 3.65%) on all balances
Why Synchrony Bank?
- ✓Higher rated iOS app (4.8 vs 4.5)
- ✓Higher rated Android app (4.5 vs 4.0)
— Key Feature Differences —
Better Returns at $10,000
Newtek BankNewtek Bank's Personal High Yield Savings earns more on smaller deposits (approx. $435 vs $365/yr).
Better Returns at $25,000
Newtek BankNewtek Bank's Personal High Yield Savings pulls ahead with larger amounts (approx. $1088 vs $912/yr).
Best for Simplicity
Newtek BankNewtek Bank's Personal High Yield Savings offers 4.35% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
Synchrony BankSynchrony Bank offers an iOS app rated 4.8 (vs. 4.5) and Android app rated 4.5 (vs. 4.0)
Shared Benefits
Over a 1-year period, Newtek Bank's Personal High Yield Savings pays $70 more interest on a $10,000 balance than Synchrony Bank's High Yield 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 Personal High Yield Savings account with a competitive APY of 4.35%, making it the superior choice for savers seeking higher returns, especially with no minimum balance requirements or direct deposit conditions. In contrast, Synchrony Bank's High Yield Savings account provides a lower APY of 3.65%. Both accounts are online-only and feature no maintenance fees, but Newtek's higher yield positions it as the more attractive option 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. Synchrony Bank Savings Calculator
You earn $70 more with Newtek Bank than Synchrony 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
Synchrony Bank
High Yield Savings
Savings Breakdown
- Interest Earned+$365.00(3.5%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,365.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Newtek Bank | Synchrony Bank |
|---|---|---|
| APY | 4.35% Verified: 1/21/2026 Stable (90d) | 3.65% Verified: 1/21/2026 ↘︎ 0.15%90d Change |
| Product Name | Personal High Yield Savings | High Yield Savings |
| Minimum Deposit | $0.01 | $0 |
| Min. Balance for APY | $0.01 | $0 |
| Monthly Fee | $0 | $0 |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.5 Android4.0 | iOS4.8 Android4.5 |
| Zelle® Support | Not Supported | Not Supported |
| BBB Rating | A+ | Not Rated |
| Next Steps | Visit SiteVerify at Newtek Bank Non-sponsored link to official site | Visit SiteVerify at Synchrony Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Newtek Bank | Synchrony Bank |
|---|---|---|
| Personal High Yield Savings | High Yield Savings | |
Current APY | 4.35% | 3.65% |
Trend | Stable | Stable |
Velocity (bps/mo) | -1.1 | -3.5 |
Days Since Change | 285 | 64 |
12-Month High | 4.55% | 4.10% |
12-Month Low | 4.35% | 3.65% |
Adjustments / Mo | 0.16 | 0.25 |
Volatility Score | 0.013 | 0.035 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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