Newtek Bank vs Ufb Direct
High-Yield Savings Accounts Comparison
Last Updated: September 5, 2025
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Summary of Newtek Bank vs. UFB Direct
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 UFB Direct's 4.21% APY for its UFB Checking and Savings Bundle account, with a minimum balance of $10,000.
Newtek Bank yields $14 more than UFB Direct on a $10,000 balance after one year. Newtek Bank pays $435, while UFB Direct pays $421 - an APY advantage for Newtek Bank.
In addition, UFB Direct also offers 4.01% APY for the UFB Portfolio Savings account.
Newtek Bank
Strengths
- Newtek Bank offers a higher APY of 4.35% on its Personal High Yield Savings account.
- No minimum deposit or balance requirements for Newtek Bank's savings account.
- Newtek Bank has an App Store rating of 4.5.
Potential Drawbacks
- Newtek Bank does not offer a direct deposit option for its savings account.
- Newtek Bank has no branches available for in-person banking.
- Newtek Bank's Google Play rating is lower at 4.2.
UFB Direct
Strengths
- UFB Direct offers a competitive APY of 4.21% with the potential for a higher rate through conditions.
- UFB Direct provides a Portfolio Savings account with an APY of 4.01% and no minimum balance.
- UFB Direct has a higher App Store rating of 4.8.
Potential Drawbacks
- UFB Direct requires a minimum deposit of $5,000 for its Checking and Savings Bundle.
- UFB Direct requires a minimum balance of $10,000 for the highest APY.
- UFB Direct's Google Play rating is lower at 4.7 compared to its App Store rating.
Summary: Newtek Bank leads with a higher APY of 4.35% and no minimum balance requirements, while UFB Direct offers a competitive 4.21% APY with conditions. UFB Direct requires a $5,000 minimum deposit for its primary account. Both banks have an A+ BBB rating. UFB Direct excels in App Store ratings with 4.8, compared to Newtek Bank's 4.5, but lacks branch access like Newtek Bank.
Compare Newtek Bank's vs UFB Direct's Savings Accounts
| Newtek Bank | UFB Direct | |||
|---|---|---|---|---|
| Product | Personal High Yield Savings | vs | UFB Checking and Savings Bundle | UFB Portfolio Savings |
| APY | 4.35% (as of 9/5/2025) | 4.01% - 4.21% (as of 9/5/2025) | 4.01% (as of 9/5/2025) | |
| Bundled Account | No | No | No | |
| FDIC-insured | Yes | Yes | Yes | |
| Online Only | Yes | Yes | Yes | |
| Compound Frequency | Daily | Daily | Daily | |
| Minimum Deposit | $0 | $5000 | $0 | |
| Minimum Balance for APY | $0.01 | $10,000 | $0 | |
| Maintenance Fee | $0 | $0 | $0 | |
| Direct Deposit Required | No | Yes | No | |
| Note | The regular savings or money market APY may be boosted up to 4.21% by direct deposits, minimum balance of $10,000 and making 10 approved debit card transactions per statement cycle. See bank for full details. | |||
| Sponsored Link | LEARN MORE at UFB Direct, Member FDIC | LEARN MORE at UFB Direct, Member FDIC | ||
| App Store Rating | 4.5/5 | 4.8/5 | ||
| Google Play Rating | 4.2/5 | 4.7/5 | ||
| BBB Rating | A+ | A+ | ||
Comparative Historical APY Insights (Last 7 Months)
| Newtek Bank | UFB Direct | |||
|---|---|---|---|---|
| Product | Personal High Yield Savings | vs | UFB Checking and Savings Bundle | UFB Portfolio Savings |
| Latest APY | 4.35 % | 4.21 % | 4.01 % | |
| Trend | Sideways | Sideways | Sideways | |
| Slope (bps/mo) | -2.6 | -0.0 | 0.0 | |
| Rate Changes / Mo | 0.27 | 0.00 | 0.00 | |
| Days Since Last Change | 147 | 203 | 226 | |
| High (-7 m) | 4.55 % | 4.21 % | 4.01 % | |
| Low (-7 m) | 4.35 % | 4.21 % | 4.01 % | |
| Draw-down from High | -4.4 % | 0.0 % | 0.0 % | |
| Volatility (CV) | 0.016 | 0.000 | 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 UFB Direct
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 OverviewUFB Direct
APY: 4.21%
⚠️The higher APY only applies once your balance reaches $10,000.
Total savings breakdown:
- Interest earned: $2,541.6 (12.37%)
- Total contributions: $13,000 (63.29%)
- Initial deposit: $5,000 (24.34%)
Your total balance
$20,541.60
Effective APY: 4.17% (based on your deposit and contributions)
Total balance: $20,541.6
Earnings: $2,541.6
With a $5,000 initial deposit and $13,000 in total contributions over 5 years, Newtek Bank's total earnings would be $120.4 higher than UFB Direct'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 Synchrony Bank | 3.80% | $0 |
| Newtek Bank vs TIMBR | 4.40% | $1,000 |
| Newtek Bank vs Varo Bank | 5.00% | $0 |
| Newtek Bank vs Wells Fargo | 2.51% | $25 |
| Newtek Bank vs Zynlo Bank | 4.35% | $10 |
Compare UFB Direct's APY of 4.21% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| UFB Direct vs Ally Bank | 3.50% | $0 |
| UFB Direct vs American Express | 3.50% | $0 |
| UFB Direct vs Bank of America | 0.01% | $100 |
| UFB Direct vs Barclays | 4.10% | $0 |
| UFB Direct vs BrioDirect | 4.30% | $5,000 |
| UFB Direct vs Capital One | 3.50% | $0 |
| UFB Direct vs Chase Bank | 0.01% | $0 |
| UFB Direct vs Chime | 3.75% | $0 |
| UFB Direct vs CIT Bank | 4.00% | $100 |
| UFB Direct vs Discover Bank | 3.50% | $0 |
| UFB Direct vs Elevault | 4.60% | $0 |
| UFB Direct vs EverBank | 4.30% | $0 |
| UFB Direct vs Fitness Bank | 4.75% | $100 |
| UFB Direct vs FVCbank | 4.35% | $500 |
| UFB Direct vs GO2bank | 4.50% | $0 |
| UFB Direct vs Marcus by Goldman Sachs | 3.65% | $0 |
| UFB Direct vs Neighbors Bank | 4.60% | $0 |
| UFB Direct vs Peak Bank | 4.35% | $100 |
| UFB Direct vs Pibank | 4.60% | $0 |
| UFB Direct vs Presidential Bank | 4.50% | $5,000 |
| UFB Direct vs Santander Bank | 0.03% | $25 |
| UFB Direct vs SoFi Bank | 3.80% | $0 |
| UFB Direct vs Synchrony Bank | 3.80% | $0 |
| UFB Direct vs TIMBR | 4.40% | $1,000 |
| UFB Direct vs Varo Bank | 5.00% | $0 |
| UFB Direct vs Wells Fargo | 2.51% | $25 |
| UFB Direct vs Zynlo Bank | 4.35% | $10 |