Forbright Bank vs. Newtek Bank
Forbright Bank's Growth Savings pays 4.15% 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 $35 more than Forbright Bank annually ($420 vs $385).
Choose Forbright Bank if you want Zelle for quick transfers. Choose Newtek Bank if getting the best rate matters most.
| Metric | Forbright BankGrowth Savings Aug 21, 2026 | Newtek BankPersonal High Yield Savings Aug 21, 2026 |
|---|---|---|
| APY | 3.85% - 4.15% | 4.20% |
Est. Earnings | $5,000+$193 $10,000+$385 $25,000+$963 | $5,000+$210 $10,000+$420 $25,000+$1,050 |
Min Deposit | $0 | $100 |
Snapshot view. Rates subject to change. | ||
Terms | Limited offer: The stated APY includes a temporary 0.30% APY boost for new customers. Only people who never had a Forbright Bank Growth Savings or Growth CD account can get the boost. The account must be opened online, and a one-time balance of $1,000 must be reached by 08/31/2026. The boost ends on 12/31/2026, and a lower APY applies after that. Existing customers get the standard APY. See terms at Forbright Bank. | 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 AppZelle® SupportedDaily CompoundingRate Changes Often | FDIC InsuredLow MinimumsGreat iOS AppGreat Android 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 Forbright Bank vs. Newtek Bank
Executive Summary
A detailed summary for this comparison is being prepared. Check back soon.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Forbright Bank?
- ✓Physical branch access (Locations in the Washington D.C. area (Maryland and Virginia))
- ✓Higher rated Android app (4.5 vs 4.1)
- ✓Offers 4 different high-yield savings options
- ✓Fast transfers via Zelle®
Why Newtek Bank?
No distinct advantages found vs Forbright Bank.
Key Feature Differences
Better Returns at $10,000
Newtek BankNewtek Bank's Personal High Yield Savings earns more on smaller deposits (approx. $420 vs $385/yr).
Better Returns at $25,000
Newtek BankNewtek Bank's Personal High Yield Savings pulls ahead with larger amounts (approx. $1050 vs $963/yr).
Best Mobile App Experience
Forbright BankForbright Bank offers an iOS app rated 4.8 (vs. 4.5) and Android app rated 4.5 (vs. 4.1)
Shared Benefits
Over a 1-year period, Newtek Bank's Personal High Yield Savings pays $35 more interest on a $10,000 balance than Forbright Bank's Growth Savings.
*This comparison accounts for Forbright Bank'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
Forbright Bank vs. Newtek Bank Savings Calculator
You earn $5 more with Newtek Bank than Forbright 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.
Forbright Bank
Growth Savings
Savings Breakdown
- Interest Earned+$415.00(4.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,415.00
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 banking with Chase, Bank of America, or Wells Fargo?
On a $10,000 balance, you're missing out on at least $384 per year in interest.
Both Forbright Bank and Newtek Bank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Forbright Bank | Newtek Bank |
|---|---|---|
| APY | 4.15% Range: 3.85% - 4.15% Verified: 8/21/2026 - | 4.20% Verified: 8/21/2026 - |
| Product Name | Growth 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 | Locations in the Washington D.C. area (Maryland and Virginia) | None |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC or NCUA Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Available Branch accounts only; Growth Savings online does NOT support. | Not Supported |
| BBB Rating | A+ | A+ |
| Important Notes | Limited offer: The stated APY includes a temporary 0.30% APY boost for new customers. Only people who never had a Forbright Bank Growth Savings or Growth CD account can get the boost. The account must be opened online, and a one-time balance of $1,000 must be reached by 08/31/2026. The boost ends on 12/31/2026, and a lower APY applies after that. Existing customers get the standard APY. See terms at Forbright Bank. | 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 Forbright 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 | Forbright Bank | Newtek Bank | |||
|---|---|---|---|---|---|
| Bright Business Savings | Growth Savings | Bright Savings | Sprout Savings | Personal High Yield Savings | |
Current APY | 3.46% | 4.15% | 3.46% | 3.46% | 4.20% |
Trend | Stable | Stable | Stable | Stable | Stable |
Velocity (bps/mo) | 0.2 | -4.4 | -5.3 | -5.3 | -0.5 |
Days Since Change | 127 | 67 | 127 | 127 | 197 |
12-Month High | 3.46% | 4.25% | 3.90% | 3.90% | 4.35% |
12-Month Low | 3.45% | 3.85% | 3.45% | 3.45% | 4.20% |
Adjustments / Mo | 0.08 | 0.25 | 0.25 | 0.25 | 0.08 |
Volatility Score | 0.001 | 0.030 | 0.035 | 0.035 | 0.004 |
How to read these metrics(Click to expand)
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