Axos Bank vs. Newtek Bank
Axos Bank edges out Newtek Bank slightly at 4.21% vs 4.20% APY. On a $10,000 balance, the difference is just $1 per year, so other factors may matter more.
The Bottom Line
The Axos Bank and Newtek Bank savings accounts are very similar. Choose Axos Bank if you're an Android user, or choose Newtek Bank if you want a no-strings-attached account.
Important Considerations
Axos Bank's Axos ONE Savings pays its top rate only if you also open a checking account with Axos Bank, while Newtek Bank's Personal High Yield Savings stands alone.
| Metric | Axos BankAxos ONE Savings Sep 4, 2026 | Newtek BankPersonal High Yield Savings Sep 4, 2026 |
|---|---|---|
| APY | 3.50% - 4.21% | 4.20% |
Earns in a year | $5,000+$211 $10,000+$421 $25,000+$1,053 | $5,000+$210 $10,000+$420 $25,000+$1,050 |
Min. Deposit | $0 | $100 |
Snapshot view. Rates subject to change. | ||
Terms | The APY is available with the Axos ONE savings and checking bundle. The checking account also earns interest. To qualify, you must either set up a direct deposit of $1,500 and maintain an average daily balance of more than $1,500 in your ONE Checking account, or receive at least $5,000 in total monthly qualifying deposits and maintain an average daily balance of more than $5,000. | Newtek Bank has paused new applications for this account. New customers can only join a waitlist. The advertised APY applies to existing accounts. |
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppChecking BundleDaily CompoundingStable Rate | FDIC InsuredLow MinimumsGreat iOS AppDaily CompoundingStable Rate |
Prefer In-Person Banking?
Both of these institutions are online-only. If you need in-branch access, check out our list of savings accounts with brick-and-mortar locations.
Comparison Analysis
Comparing Axos Bank vs. Newtek Bank
Executive Summary
Axos Bank offers the Axos ONE Savings account with a competitive APY of 4.21%, available through a savings and checking bundle. To qualify for this rate, customers must either set up a direct deposit of $1,500 or maintain an average daily balance of over $1,500 in their checking account. Alternatively, their Summit Savings account provides a lower APY of 3.75%. In comparison, Newtek Bank's Personal High Yield Savings account offers a slightly lower APY of 4.20% but does not require bundling or direct deposit, making it simpler to access. However, new applications for this account are paused, limiting availability to existing customers. Both banks are online-only and nationally available.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Axos Bank?
- Access to 95,000 fee-free ATMs
- Higher rated Android app (4.6 vs 3.9)
- Offers 3 different high-yield savings options
Why Newtek Bank?
No distinct advantages found vs Axos Bank.
Key Feature Differences
Better for Simplicity
Newtek BankNewtek Bank's Personal High Yield Savings offers 4.20% APY with no bundling, direct deposit requirement or caps.
Better Mobile App Experience
Axos BankAxos Bank offers an iOS app rated 4.7 (vs. 4.5) and Android app rated 4.6 (vs. 3.9)
Shared Benefits
Over a 1-year period, Axos Bank's Axos ONE Savings pays $1 more interest on a $10,000 balance than Newtek Bank's Personal High Yield Savings.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
* Secure link to our partner
Non-sponsored link to official site
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Axos Bank vs. Newtek Bank Savings Calculator
You earn $1 more with Axos Bank than Newtek 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.
Axos Bank
Axos ONE Savings
Savings Breakdown
- Interest Earned+$421.00(4.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,421.00
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
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Still at a large branch bank?
A typical branch-bank savings rate is 0.05% APY. On a $10,000 balance, the gap to these two banks is at least $415 a year in interest.
Both Axos Bank and Newtek Bank advertise far more than that typical branch-bank rate.
| Feature | Axos Bank | Newtek Bank |
|---|---|---|
| APY | 4.21% Range: 3.50% - 4.21% Observed: 9/4/2026 Stable over 90 days | 4.20% Observed: 9/4/2026 Stable over 90 days |
| Product Name | Axos ONE Savings | Personal High Yield Savings |
| Minimum Deposit | $0 | $100 |
| Min. Balance for APY | $0 | $0.01 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Daily | Daily |
| In-Branch Access | No | No |
| Account Type | Online Only | Online Only |
| Physical Branches | 3 (CA, NV, UT) | 1 (FL) |
| Direct Deposit Req. | None | None |
| Checking Bundle | Yes | No |
| Mobile Apps | ||
| FDIC or NCUA Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Not Supported | Not Supported |
| BBB Rating | A+ | A+ |
| Important Notes | The APY is available with the Axos ONE savings and checking bundle. The checking account also earns interest. To qualify, you must either set up a direct deposit of $1,500 and maintain an average daily balance of more than $1,500 in your ONE Checking account, or receive at least $5,000 in total monthly qualifying deposits and maintain an average daily balance of more than $5,000. | Newtek Bank has paused new applications for this account. New customers can only join a waitlist. The advertised APY applies to existing accounts. |
| Next Steps | Visit SiteGo to Axos Bank * Secure link to our partner | Visit SiteVerify at Newtek Bank Non-sponsored link to official site |
Compare Savings Rates Over Time
Historical Performance
| Metric | Axos Bank | Newtek Bank | ||
|---|---|---|---|---|
| Axos ONE Savings | Summit Savings | High Yield Savings | Personal High Yield Savings | |
Current APY | 4.21% | 3.75% | 0.61% | 4.20% |
Trend | Stable | Stable | Stable | Stable |
Speed of change | -0.04 | -0.06 | -0.00 | -0.01 |
Days Since Change | 214 | 267 | 361 | 211 |
12-Month High | 4.51% | 4.00% | 0.61% | 4.35% |
12-Month Low | 4.21% | 3.75% | 0.61% | 4.20% |
Changes per month | 0.25 | 0.08 | 0.00 | 0.08 |
Steadiness | 0.023 | 0.030 | 0.000 | 0.004 |
How to read these metrics(Click to expand)
Trends and speed
- Trend: The general direction of the rate over the analyzed period. Useful for seeing whether a bank is raising its rate or letting it slip.
- Speed of change: How fast the rate moves. A high positive number means they raise rates quickly. A reading of 0.10 is a tenth of a percentage point each month.
- Changes per month: How often the rate moves. A high number means it changes constantly; a low number means it holds.
Risk & Range
- High/Low: The absolute ceiling and floor of the rate during the 364-day window.
- Steadiness: How far the rate swings around its average. A lower score means a steadier, more predictable rate.
- Days Since Change: A high number, for example above 90, means the rate rarely moves. A low number means it changed recently.
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