Elevault vs. Newtek Bank
Elevault's High Yield Savings Account pays 4.34% 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? Elevault pays $14 more than Newtek Bank annually ($434 vs $420).
Choose Elevault if getting the best rate matters most.
| Metric | ElevaultHigh Yield Savings Account Sep 11, 2026 | Newtek BankPersonal High Yield Savings Sep 11, 2026 |
|---|---|---|
| APY | 4.34% | 4.20% |
Earns in a year | $5,000+$217 $10,000+$434 $25,000+$1,085 | $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 up to $250,000. Balances above that earn no interest. Daily deposit limit is $2,500. | 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 AppDaily CompoundingRate Changes Often | 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 Elevault vs. Newtek Bank
Executive Summary
Elevault offers a High Yield Savings Account with a competitive APY of 4.34%, available for balances up to $250,000, making it a strong choice for savers. In contrast, Newtek Bank's Personal High Yield Savings account provides an APY of 4.20%, but new applications are currently paused, limiting access to existing customers only. While both accounts have no maintenance fees and are online-only, Elevault's higher APY positions it as the more attractive option for those looking to maximize their savings. Newtek Bank also offers a Business Money Market Account with a lower APY of 3.50% as an alternative.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Elevault?
- Higher potential APY (4.34% vs 4.20%) on all balances
Why Newtek Bank?
- No checking account or direct deposit required
- Higher rated iOS app (4.5 vs 4.1)
Key Feature Differences
Better Returns at $10,000
ElevaultElevault's High Yield Savings Account earns more on smaller deposits (approx. $434 vs $420/yr).
Better Returns at $25,000
ElevaultElevault's High Yield Savings Account pulls ahead with larger amounts (approx. $1085 vs $1050/yr).
Better for Simplicity
Newtek BankNewtek Bank's Personal High Yield Savings offers 4.20% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Elevault's High Yield Savings Account pays $14 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.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Elevault vs. Newtek Bank Savings Calculator
You earn $14 more with Elevault 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.
Elevault
High Yield Savings Account
Savings Breakdown
- Interest Earned+$434.00(4.2%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,434.00
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 Elevault and Newtek Bank advertise far more than that typical branch-bank rate.
| Feature | Elevault | Newtek Bank |
|---|---|---|
| APY | 4.34% Observed: 9/11/2026 Stable over 90 days | 4.20% Observed: 9/11/2026 Stable over 90 days |
| Product Name | High Yield Savings Account | 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 | Not reported | 1 (FL) |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | 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 up to $250,000. Balances above that earn no interest. Daily deposit limit is $2,500. | 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 Elevault 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 | Elevault | Newtek Bank |
|---|---|---|
| High Yield Savings Account | Personal High Yield Savings | |
Current APY | 4.34% | 4.20% |
Trend | Stable | Stable |
Speed of change | -0.09 | -0.01 |
Days Since Change | 126 | 218 |
12-Month High | 4.60% | 4.35% |
12-Month Low | 3.82% | 4.20% |
Changes per month | 0.33 | 0.08 |
Steadiness | 0.056 | 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 Elevault's APY of 4.34% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Elevault vs Ally Bank | 3.00% | $0 |
| Elevault vs American Express | 3.00% | $0 |
| Elevault vs Axos Bank | 4.21% | $0 |
| Elevault vs Barclays | 3.65% | $0 |
| Elevault vs Capital One | 3.50% | $0 |
| Elevault vs Chime | 3.75% | $0 |
| Elevault vs CIT Bank | 3.75% | $100 |
| Elevault vs EverBank | 3.90% | $0 |
| Elevault vs Marcus by Goldman Sachs | 3.40% | $0 |
| Elevault vs Openbank | 3.80% | $500 |
| Elevault vs Pibank | 4.10% | $0 |
| Elevault vs SoFi Bank | 4.00% | $0 |
| Elevault vs Synchrony Bank | 3.30% | $0 |
| Elevault vs Varo Bank | 3.75% | $0 |
| Elevault vs Wealthfront | 3.95% | $0 |