Chase Bank vs. Newtek Bank
Chase Bank's Chase Savings℠ pays 0.01% APY while Newtek Bank's Personal High Yield Savings pays 4.20% APY.
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 $419 more than Chase Bank annually ($420 vs $1).
Choose Chase Bank if you're an Android user, or you want Zelle for quick transfers. Choose Newtek Bank if getting the best rate matters most.
| Metric | Chase BankChase Premier Savings Sep 11, 2026 | Newtek BankPersonal High Yield Savings Sep 11, 2026 |
|---|---|---|
| APY | 0.01% | 4.20% |
Earns in a year | $5,000+$1 $10,000+$1 $25,000+$3 | $5,000+$210 $10,000+$420 $25,000+$1,050 |
Min. Deposit | $0 | $100 |
Snapshot view. Rates subject to change. | ||
Terms | - | 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 AppIn-Person AccessZelle® Supported | FDIC InsuredLow MinimumsGreat iOS AppDaily CompoundingStable Rate |
Comparison Analysis
Comparing Chase Bank vs. Newtek Bank
Executive Summary
Newtek Bank offers a clear advantage with its Personal High Yield Savings account, boasting an impressive APY of 4.20%. This account does not have a direct deposit requirement and features no maintenance fees, making it appealing for those looking for simplicity. In contrast, Chase Bank's highest yielding product is the Chase Savings℠, which provides a minimal APY of 0.01%. While Chase offers various savings options, including the Chase Premier Savings and business accounts, they all yield the same low rate. Additionally, Newtek Bank's account is currently available only to existing customers, as new applications are paused. Overall, Newtek Bank stands out significantly in terms of returns.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Chase Bank?
- Higher rated iOS app (4.8 vs 4.5)
- Higher rated Android app (4.8 vs 3.9)
- Offers 4 different high-yield savings options
- Fast transfers via Zelle® (up to $2,000 a day)
Why Newtek Bank?
- Higher potential APY (4.20% vs 0.01%) on all balances
- No checking account or direct deposit required
Key Feature Differences
Better Returns at $10,000
Newtek BankNewtek Bank's Personal High Yield Savings earns more on smaller deposits (approx. $420 vs $1/yr).
Better Returns at $25,000
Newtek BankNewtek Bank's Personal High Yield Savings pulls ahead with larger amounts (approx. $1050 vs $3/yr).
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
Chase BankChase Bank offers an iOS app rated 4.8 (vs. 4.5) and Android app rated 4.8 (vs. 3.9)
Shared Benefits
Over a 1-year period, Newtek Bank's Personal High Yield Savings pays $419 more interest on a $10,000 balance than Chase Bank's Chase Premier Savings.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Chase Bank vs. Newtek Bank Savings Calculator
You earn $419 more with Newtek Bank than Chase 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.
Chase Bank
Chase Premier Savings
Savings Breakdown
- Interest Earned+$1.00(0.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,001.00
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.
| Feature | Chase Bank | Newtek Bank |
|---|---|---|
| APY | 0.01% Observed: 9/11/2026 Stable over 90 days | 4.20% Observed: 9/11/2026 Stable over 90 days |
| Product Name | Chase Premier Savings | Personal High Yield Savings |
| Minimum Deposit | $0 | $100 |
| Min. Balance for APY | $0 | $0.01 |
| Monthly Fee | N/A | $0 |
| Compound Frequency | Monthly | Daily |
| In-Branch Access | Yes | No |
| Account Type | Online & Branches | Online Only |
| Physical Branches | 5,394 (AL, AR, AZ, CA, CO, CT, DC, DE (+41 more)) | 1 (FL) |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC or NCUA Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Available Limit: $2,000/dayBranded as Chase QuickPay; dynamic limits up to $10k. | Not Supported |
| BBB Rating | A- | A+ |
| Important Notes | - | 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 SiteVerify at Chase Bank Non-sponsored link to official site | Visit SiteVerify at Newtek Bank Non-sponsored link to official site |
Compare Savings Rates Over Time
Historical Performance
| Metric | Chase Bank | Newtek Bank |
|---|---|---|
| Chase Savings℠ | Personal High Yield Savings | |
Current APY | 0.01% | 4.20% |
Trend | Stable | Stable |
Speed of change | 0.00 | -0.01 |
Days Since Change | 361 | 218 |
12-Month High | 0.01% | 4.35% |
12-Month Low | 0.01% | 4.20% |
Changes per month | 0.00 | 0.08 |
Steadiness | 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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High Rates (With Checking Bundle)
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More Comparisons
Compare Chase Bank's APY of 0.01% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Chase Bank vs Ally Bank | 3.00% | $0 |
| Chase Bank vs American Express | 3.00% | $0 |
| Chase Bank vs Axos Bank | 4.21% | $0 |
| Chase Bank vs Barclays | 3.65% | $0 |
| Chase Bank vs Capital One | 3.50% | $0 |
| Chase Bank vs Chime | 3.75% | $0 |
| Chase Bank vs CIT Bank | 3.75% | $100 |
| Chase Bank vs EverBank | 3.90% | $0 |
| Chase Bank vs Marcus by Goldman Sachs | 3.40% | $0 |
| Chase Bank vs Openbank | 3.80% | $500 |
| Chase Bank vs Pibank | 4.10% | $0 |
| Chase Bank vs SoFi Bank | 4.00% | $0 |
| Chase Bank vs Synchrony Bank | 3.30% | $0 |
| Chase Bank vs Varo Bank | 3.75% | $0 |
| Chase Bank vs Wealthfront | 3.95% | $0 |