Newtek Bank vs. UFB Direct
Newtek Bank's Personal High Yield Savings pays 4.20% APY while UFB Direct's UFB Checking and Savings Bundle pays 3.46% APY.
Note: UFB Direct requires 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 $74 more than UFB Direct annually ($420 vs $346).
Choose Newtek Bank if getting the best rate matters most, or you want a no-strings-attached account.
Important Considerations
UFB Direct requires a checking account to unlock its top savings rate, while Newtek Bank offers its savings account standalone.
| Metric | Newtek BankPersonal High Yield Savings Aug 21, 2026 | UFB DirectUFB Checking and Savings Bundle Aug 19, 2026 |
|---|---|---|
| APY | 4.20% | 3.46% |
Est. Earnings | $5,000+$210 $10,000+$420 $25,000+$1,050 | $5,000+$0 $10,000+$346 $25,000+$865 |
Min Deposit | $100 | $5,000 |
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. | The regular savings or money market APY may be boosted by direct deposits, minimum balance of $10,000 and making 10 approved debit card transactions per statement cycle. The checking account also earns interest. See bank for full details. |
| Features | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppDaily CompoundingStable Rate | FDIC InsuredHigh MinimumGreat iOS AppGreat Android AppDirect Deposit ReqChecking BundleDaily CompoundingRate Changes Often |
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 Newtek Bank vs. UFB Direct
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 Newtek Bank?
- ✓Higher potential APY (4.20% vs 3.26%-3.46%) on all balances
Why UFB Direct?
- ✓Offers an interest-bearing checking account in addition to the savings APY
- ✓Access to over 90,000 fee-free ATMs
- ✓Higher rated iOS app (4.8 vs 4.5)
- ✓Offers 2 different high-yield savings options
Key Feature Differences
Better Returns at $10,000
Newtek BankNewtek Bank's Personal High Yield Savings earns more on smaller deposits (approx. $420 vs $346/yr).
Better Returns at $25,000
Newtek BankNewtek Bank's Personal High Yield Savings pulls ahead with larger amounts (approx. $1050 vs $865/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
UFB DirectUFB Direct offers an iOS app rated 4.8 (vs. 4.5) and Android app rated 4.3 (vs. 4.1)
Shared Benefits
Over a 1-year period, Newtek Bank's Personal High Yield Savings pays $74 more interest on a $10,000 balance than UFB Direct's UFB Checking and Savings Bundle.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Non-sponsored link to official site
* Secure link to our partner
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Newtek Bank vs. UFB Direct Savings Calculator
You earn $74 more with Newtek Bank than UFB Direct 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.
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
UFB Direct
UFB Checking and Savings Bundle
Savings Breakdown
- Interest Earned+$346.00(3.3%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,346.00
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 $345 per year in interest.
Both Newtek Bank and UFB Direct dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Newtek Bank | UFB Direct |
|---|---|---|
| APY | 4.20% Verified: 8/21/2026 - | 3.46% Verified: 8/19/2026 - |
| Product Name | Personal High Yield Savings | UFB Checking and Savings Bundle |
| Minimum Deposit | $100 | $5,000 |
| Min. Balance for APY | $0.01 | $10,000 |
| 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 | Required |
| Checking Bundle | No | Yes |
| Mobile Apps | ||
| FDIC or NCUA Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Not Supported | 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. | The regular savings or money market APY may be boosted by direct deposits, minimum balance of $10,000 and making 10 approved debit card transactions per statement cycle. The checking account also earns interest. See bank for full details. |
| Next Steps | Visit SiteVerify at Newtek Bank Non-sponsored link to official site | Visit SiteGo to UFB Direct * Secure link to our partner |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Newtek Bank | UFB Direct | |
|---|---|---|---|
| Personal High Yield Savings | UFB Checking and Savings Bundle | UFB Portfolio Savings | |
Current APY | 4.20% | 3.46% | 3.26% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | -0.5 | -13.3 | -11.6 |
Days Since Change | 197 | 227 | 227 |
12-Month High | 4.35% | 4.21% | 4.01% |
12-Month Low | 4.20% | 3.46% | 3.26% |
Adjustments / Mo | 0.08 | 0.41 | 0.41 |
Volatility Score | 0.004 | 0.063 | 0.067 |
How to read these metrics(Click to expand)
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Compare Newtek Bank's APY of 4.20% with other banks
Compare UFB Direct's APY of 3.46% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| UFB Direct vs Ally Bank | 3.00% | $0 |
| UFB Direct vs American Express | 3.00% | $0 |
| UFB Direct vs Axos Bank | 4.21% | $0 |
| UFB Direct vs Barclays | 3.65% | $0 |
| UFB Direct vs Capital One | 3.50% | $0 |
| UFB Direct vs Chime | 3.75% | $0 |
| UFB Direct vs CIT Bank | 3.75% | $100 |
| UFB Direct vs EverBank | 3.90% | $0 |
| UFB Direct vs Marcus by Goldman Sachs | 3.40% | $0 |
| UFB Direct vs Openbank | 3.80% | $500 |
| UFB Direct vs Pibank | 4.10% | $0 |
| UFB Direct vs SoFi Bank | 3.80% | $0 |
| UFB Direct vs Synchrony Bank | 3.30% | $0 |
| UFB Direct vs Varo Bank | 3.75% | $0 |
| UFB Direct vs Wealthfront | 3.95% | $0 |