Newtek Bank vs. Upgrade
Compare rates, requirements, and features side-by-side to find the best option for you.
Newtek Bank
Personal High Yield Savings
4.35%APYDec 10, 2025FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppShow Fine Print & Trends Hide Details
Newtek Bank
Personal High Yield Savings
Upgrade
Premier Savings
3.05%APYDec 10, 2025FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppShow Fine Print & Trends Hide Details
Upgrade
Premier Savings
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.
Newtek Bank vs. Upgrade Savings Calculator
Newtek Bank earns $832.4 more than Upgrade.
Newtek Bank
Personal High Yield Savings
Savings Breakdown
- Interest Earned+$2,662.00(12.9%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,662.00
Upgrade
Premier Savings
Savings Breakdown
- Interest Earned+$1,829.60(9.2%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$19,829.60
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Comparison Analysis
Comparing Newtek Bank vs. Upgrade
Why Newtek Bank?
- ✓Higher potential APY (4.35% vs 3.05%) on all balances
Why Upgrade?
- ✓Higher rated iOS app (4.9 vs 4.5)
- ✓Higher rated Android app (4.5 vs 4.2)
— Key Feature Differences —
Better Returns at $10,000
Newtek BankNewtek Bank's Personal High Yield Savings earns more on smaller deposits (approx. $435 vs $305/yr).
Better Returns at $25,000
Newtek BankNewtek Bank's Personal High Yield Savings pulls ahead with larger amounts (approx. $1088 vs $763/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
UpgradeUpgrade offers an iOS app rated 4.9 (vs. 4.5) and Android app rated 4.5 (vs. 4.2)
Shared Benefits
Over a 1-year period, Newtek Bank's Personal High Yield Savings pays $130 more interest on a $10,000 balance than Upgrade's Premier Savings.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary
Newtek Bank offers a Personal High Yield Savings account with a competitive APY of 4.35%, making it the clear winner in this comparison. This account requires a minimum deposit of just $0.01 and has no maintenance fees or direct deposit requirements, providing simplicity for users. In contrast, Upgrade's Premier Savings account features a lower APY of 3.05% and requires a minimum balance of $1,000. While Upgrade boasts a strong mobile app experience, Newtek Bank's higher yield on savings positions it as the more attractive option for savers.
Analysis generated based on current Banksparency database records
* AI-generated content provided for informational purposes only. Accuracy is not guaranteed; always verify details with the provider.
Top Market Contenders
See who beats both Newtek Bank and Upgrade.
| Feature | Newtek Bank | Upgrade |
|---|---|---|
| APY | 4.35% Verified: 12/10/2025 Stable (90d) | 3.05% Verified: 12/10/2025 ↘︎ 0.97%90d Change |
| Product Name | Personal High Yield Savings | Premier Savings |
| Minimum Deposit | $0.01 | $0 |
| Min. Balance for APY | $0.01 | $1,000 |
| 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 Android4.2 | iOS4.9 Android4.5 |
| BBB Rating | A+ | A+ |
| Next Steps |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Newtek Bank | Upgrade |
|---|---|---|
| Personal High Yield Savings | Premier Savings | |
Current APY | 4.35% | 3.05% |
Trend | Stable | Stable |
Velocity (bps/mo) | -1.3 | -10.4 |
Days Since Change | 243 | 39 |
11-Month High | 4.55% | 4.14% |
11-Month Low | 4.35% | 3.05% |
Adjustments / Mo | 0.19 | 0.28 |
Volatility Score | 0.014 | 0.105 |
How to read these metrics(Click to expand)
Compare Similar High-Yield Accounts
Compare Newtek Bank vs...
Comparing against Standard Savings
Compare Upgrade vs...
Comparing against Standard Savings
Higher Rates (With Checking)
Looking for something different? Check out these top-rated alternatives.