Newtek Bank vs. Wealthfront
Comparing Newtek Bank and Wealthfront for high-yield savings: Newtek Bank's Personal High Yield Savings pays 4.20% APY while Wealthfront's Cash Account pays 3.95% APY (including a 3-month 0.65% promo boost).
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? Newtek Bank pays $74 more than Wealthfront annually ($420 vs $346).
Choose Newtek Bank if getting the best rate matters most, you want a no-strings-attached account, you want to avoid a promo rate with a scheduled drop, or BBB rating matters to you. Choose Wealthfront if you're an Android user.
Important Considerations
The key difference? Wealthfront's 3.95% rate includes a promotional bonus for the first 3 months, after which it reverts to the standard rate (currently 3.30%). Newtek Bank's 4.20% rate has no scheduled drop, though all rates are subject to change.
| Metric | Newtek BankPersonal High Yield Savings Feb 21, 2026 | WealthfrontCash Account Feb 21, 2026 |
|---|---|---|
| APY | 4.20% | 3.30% - 3.95% |
Est. Earnings | $5,000+$210 $10,000+$420 $25,000+$1,050 | $5,000+$173 $10,000+$346 $25,000+$866 |
Min Deposit | $0.01 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | - | Wealthfront is not a bank but a financial services company. It is FDIC-insured through its many partner banks. New clients get an APY of 3.95% for 3 months, after which the 3.30% APY applies. See terms at Wealthfront. |
| Features | FDIC InsuredNo MinimumsGreat iOS AppDaily CompoundingRate Changes Often | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppDaily CompoundingRate Changes Often |
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. Wealthfront
Executive Summary
Newtek Bank offers a Personal High Yield Savings account with a competitive APY of 4.20%, providing better returns compared to Wealthfront's Cash Account, which has an APY of 3.95% for the first three months before dropping to 3.30%. Newtek's account stands out for its simplicity, requiring no direct deposit or maintenance fees, and is accessible with a minimum deposit of just $0.01. In contrast, Wealthfront, while offering a strong mobile app experience, is not a bank but a financial services company, and its APY is lower after the promotional period. Both accounts are online-only and FDIC-insured.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Newtek Bank?
- ✓Higher potential APY (4.20% vs 3.95%) on all balances
Why Wealthfront?
- ✓Higher rated Android app (4.9 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. $420 vs $346/yr).
Better Returns at $25,000
Newtek BankNewtek Bank's Personal High Yield Savings pulls ahead with larger amounts (approx. $1050 vs $866/yr).
Best for Simplicity
Newtek BankNewtek Bank's Personal High Yield Savings offers 4.20% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
WealthfrontWealthfront offers an iOS app rated 4.8 (vs. 4.5) and Android app rated 4.9 (vs. 4.0)
Shared Benefits
Over a 1-year period, Newtek Bank's Personal High Yield Savings pays $74 more interest on a $10,000 balance than Wealthfront's Cash Account.
*This comparison accounts for Wealthfront's introductory promotional rate, yet Newtek Bank's standard rate still yields a higher 1-year return.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Newtek Bank vs. Wealthfront Savings Calculator
You earn $72.5 more with Newtek Bank than Wealthfront 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+$420.00(4.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,420.00
Wealthfront
Cash Account
Promo Rate: 3.95% for 3 months, then 3.30%.
Savings Breakdown
- Interest Earned+$347.50(3.4%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,347.50
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Still banking with Chase, Bank of America, or Wells Fargo?
On a $10,000 balance, you're missing out on at least $345 per year in interest.
Both Newtek Bank and Wealthfront dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Newtek Bank | Wealthfront |
|---|---|---|
| APY | 4.20% Verified: 2/21/2026 ↘︎ 0.15%90d Change | 3.95% Range: 3.30% - 3.95% Verified: 2/21/2026 ↘︎ 0.20%90d Change |
| Product Name | Personal High Yield Savings | Cash Account |
| Minimum Deposit | $0.01 | $0 |
| Min. Balance for APY | $0.01 | $0 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Daily | Daily |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Physical Branches | None | None |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | Yes |
| Zelle® Support | Not Supported | Not Supported |
| BBB Rating | A+ | F |
| Important Notes | - | Wealthfront is not a bank but a financial services company. It is FDIC-insured through its many partner banks. New clients get an APY of 3.95% for 3 months, after which the 3.30% APY applies. See terms at Wealthfront. |
| Next Steps | Visit SiteVerify at Newtek Bank Non-sponsored link to official site | Visit SiteVerify at Wealthfront Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Newtek Bank | Wealthfront |
|---|---|---|
| Personal High Yield Savings | Cash Account | |
Current APY | 4.20% | 3.95% |
Trend | Stable | Stable |
Velocity (bps/mo) | -3.6 | -8.6 |
Days Since Change | 15 | 22 |
3-Month High | 4.35% | 4.15% |
3-Month Low | 4.20% | 3.90% |
Adjustments / Mo | 0.30 | 0.60 |
Volatility Score | 0.013 | 0.028 |
How to read these metrics(Click to expand)
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