GO2bank vs. Newtek Bank
GO2bank's High Yield Savings pays 4.50% APY while Newtek Bank's Personal High Yield Savings pays 4.20% APY.
Note: GO2bank's High Yield Savings also needs a checking account.
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 $195 more than GO2bank annually ($420 vs $225).
Choose GO2bank if you're an Android user. Choose Newtek Bank if getting the best rate matters most, you want a no-strings-attached account, or BBB rating matters to you.
Important Considerations
GO2bank's High Yield Savings pays its top rate only if you also open a checking account with GO2bank, while Newtek Bank's Personal High Yield Savings stands alone.
| Metric | GO2bankHigh Yield Savings Sep 4, 2026 | Newtek BankPersonal High Yield Savings Sep 4, 2026 |
|---|---|---|
| APY | 4.50% | 4.20% |
Earns in a year | $5,000+$225 $10,000+$225 $25,000+$225 | $5,000+$210 $10,000+$420 $25,000+$1,050 |
Min. Deposit | $0 | $100 |
Snapshot view. Rates subject to change. | ||
Terms | A GO2bank checking account is required to open a savings account. The stated APY is up to $5,000. Balances above that earn no interest. | 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 BundleStable 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 GO2bank vs. Newtek Bank
Executive Summary
GO2bank offers a High Yield Savings account with a competitive APY of 4.50%, requiring a GO2bank checking account for access. Balances up to $5,000 earn interest, while amounts above that do not. In contrast, Newtek Bank's Personal High Yield Savings account provides an APY of 4.20%, but new applications are paused, limiting access to existing customers only. This account has no maintenance fees and is available online, but requires a minimum deposit of $10,000. Overall, GO2bank's higher APY makes it the more attractive option for savers.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why GO2bank?
- Higher potential APY (4.50% vs 4.20%) on balances up to $5,000 (requires checking bundle)
- Higher rated Android app (4.4 vs 3.9)
Why Newtek Bank?
- 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 $225/yr).
Better Returns at $25,000
Newtek BankNewtek Bank's Personal High Yield Savings pulls ahead with larger amounts (approx. $1050 vs $225/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
GO2bankGO2bank offers an iOS app rated 4.8 (vs. 4.5) and Android app rated 4.4 (vs. 3.9)
Shared Benefits
Over a 1-year period, Newtek Bank's Personal High Yield Savings pays $195 more interest on a $10,000 balance than GO2bank's 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
GO2bank vs. Newtek Bank Savings Calculator
You earn $30 more with GO2bank 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.
GO2bank
High Yield Savings
Savings Breakdown
- Interest Earned+$450.00(4.3%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,450.00
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 $220 a year in interest.
Both GO2bank and Newtek Bank advertise far more than that typical branch-bank rate.
| Feature | GO2bank | Newtek Bank |
|---|---|---|
| APY | 4.50% Observed: 9/4/2026 Stable over 90 days | 4.20% Observed: 9/4/2026 Stable over 90 days |
| Product Name | High Yield Savings | Personal High Yield Savings |
| Minimum Deposit | $0 | $100 |
| Min. Balance for APY | $0 | $0.01 |
| Monthly Fee | $5 per month, unless you set up direct deposit | $0 |
| Compound Frequency | Quarterly | 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 | Yes | No |
| Mobile Apps | ||
| FDIC or NCUA Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Not Supported | Not Supported |
| BBB Rating | F | A+ |
| Important Notes | A GO2bank checking account is required to open a savings account. The stated APY is up to $5,000. Balances above that earn no interest. | 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 GO2bank 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 | GO2bank | Newtek Bank |
|---|---|---|
| High Yield Savings | Personal High Yield Savings | |
Current APY | 4.50% | 4.20% |
Trend | Stable | Stable |
Speed of change | 0.00 | -0.01 |
Days Since Change | 361 | 211 |
12-Month High | 4.50% | 4.35% |
12-Month Low | 4.50% | 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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Compare GO2bank's APY of 4.50% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| GO2bank vs Ally Bank | 3.00% | $0 |
| GO2bank vs American Express | 3.00% | $0 |
| GO2bank vs Axos Bank | 4.21% | $0 |
| GO2bank vs Barclays | 3.65% | $0 |
| GO2bank vs Capital One | 3.50% | $0 |
| GO2bank vs Chime | 3.75% | $0 |
| GO2bank vs CIT Bank | 3.75% | $100 |
| GO2bank vs EverBank | 3.90% | $0 |
| GO2bank vs Marcus by Goldman Sachs | 3.40% | $0 |
| GO2bank vs Openbank | 3.80% | $500 |
| GO2bank vs Pibank | 4.10% | $0 |
| GO2bank vs SoFi Bank | 4.00% | $0 |
| GO2bank vs Synchrony Bank | 3.30% | $0 |
| GO2bank vs Varo Bank | 3.75% | $0 |
| GO2bank vs Wealthfront | 3.95% | $0 |