Happen Bank vs. Newtek Bank
Happen Bank's LevelUp Savings pays 4.00% 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 $20 more than Happen Bank annually ($420 vs $400).
Choose Happen Bank if you're an Android user, or choose Newtek Bank if getting the best rate matters most.
| Metric | Happen BankLevelUp Savings Aug 20, 2026 | Newtek BankPersonal High Yield Savings Aug 21, 2026 |
|---|---|---|
| APY | 4.00% | 4.20% |
Est. Earnings | $5,000+$200 $10,000+$400 $25,000+$1,000 | $5,000+$210 $10,000+$420 $25,000+$1,050 |
Min Deposit | $0 | $100 |
Snapshot view. Rates subject to change. | ||
Terms | The advertised "LevelUp Rate" APY is only available if you deposit $250+ into the account each month. Otherwise the "Standard Rate" applies. | 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 CompoundingStable Rate | 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 Happen 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 Happen Bank?
- ✓Higher rated Android app (4.8 vs 4.1)
Why Newtek Bank?
- ✓Higher potential APY (4.20% vs 4.00%) on all balances
Key Feature Differences
Better Returns at $10,000
Newtek BankNewtek Bank's Personal High Yield Savings earns more on smaller deposits (approx. $420 vs $400/yr).
Better Returns at $25,000
Newtek BankNewtek Bank's Personal High Yield Savings pulls ahead with larger amounts (approx. $1050 vs $1000/yr).
Best for Simplicity
Newtek BankNewtek Bank's Personal High Yield Savings offers 4.20% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
Happen BankHappen Bank offers an iOS app rated 4.8 (vs. 4.5) and Android app rated 4.8 (vs. 4.1)
Shared Benefits
Over a 1-year period, Newtek Bank's Personal High Yield Savings pays $20 more interest on a $10,000 balance than Happen Bank's LevelUp 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
Happen Bank vs. Newtek Bank Savings Calculator
You earn $20 more with Newtek Bank than Happen 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.
Happen Bank
LevelUp Savings
Savings Breakdown
- Interest Earned+$400.00(3.8%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,400.00
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 $399 per year in interest.
Both Happen Bank and Newtek Bank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Happen Bank | Newtek Bank |
|---|---|---|
| APY | 4.00% Verified: 8/20/2026 - | 4.20% Verified: 8/21/2026 - |
| Product Name | LevelUp 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 | None | None |
| 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 advertised "LevelUp Rate" APY is only available if you deposit $250+ into the account each month. Otherwise the "Standard Rate" applies. | 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 Happen 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 | Happen Bank | Newtek Bank |
|---|---|---|
| LevelUp Savings | Personal High Yield Savings | |
Current APY | 4.00% | 4.20% |
Trend | Stable | Stable |
Velocity (bps/mo) | -3.7 | -0.5 |
Days Since Change | 252 | 197 |
12-Month High | 4.20% | 4.35% |
12-Month Low | 4.00% | 4.20% |
Adjustments / Mo | 0.08 | 0.08 |
Volatility Score | 0.023 | 0.004 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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More Comparisons
Compare Happen Bank's APY of 4.00% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Happen Bank vs Ally Bank | 3.00% | $0 |
| Happen Bank vs American Express | 3.00% | $0 |
| Happen Bank vs Axos Bank | 4.21% | $0 |
| Happen Bank vs Barclays | 3.65% | $0 |
| Happen Bank vs Capital One | 3.50% | $0 |
| Happen Bank vs Chime | 3.75% | $0 |
| Happen Bank vs CIT Bank | 3.75% | $100 |
| Happen Bank vs EverBank | 3.90% | $0 |
| Happen Bank vs Marcus by Goldman Sachs | 3.40% | $0 |
| Happen Bank vs Openbank | 3.80% | $500 |
| Happen Bank vs Pibank | 4.10% | $0 |
| Happen Bank vs SoFi Bank | 3.80% | $0 |
| Happen Bank vs Synchrony Bank | 3.30% | $0 |
| Happen Bank vs Varo Bank | 3.75% | $0 |
| Happen Bank vs Wealthfront | 3.95% | $0 |