Newtek Bank vs. Wealthfront
Newtek Bank's Personal High Yield Savings pays 4.20% APY while Wealthfront's Cash Account pays 3.95% 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 $74 more than Wealthfront annually ($420 vs $346).
Choose Newtek Bank if getting the best rate matters most, or BBB rating matters to you. Choose Wealthfront if you're an Android user.
| Metric | Newtek BankPersonal High Yield Savings Sep 14, 2026 | WealthfrontCash Account Sep 14, 2026 |
|---|---|---|
| APY | 4.20% | 3.30% - 3.95% |
Earns in a year | $5,000+$210 $10,000+$420 $25,000+$1,050 | $5,000+$173 $10,000+$346 $25,000+$866 |
Min. Deposit | $100 | $0 |
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. | Wealthfront is not a bank but a financial services company. It is FDIC-insured through its many partner banks. New clients get the stated APY for 3 months, after which a lower APY applies. See terms at Wealthfront. |
| Features | FDIC InsuredLow MinimumsGreat iOS AppDaily CompoundingStable Rate | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppDaily Compounding |
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. Wealthfront
Executive Summary
Newtek Bank last changed its rate on February 5, 2026, down 15 basis points. Wealthfront last changed its rate on August 6, 2026, down 60 basis points. Newtek Bank's Personal High Yield Savings account offers an APY of 4.20%, while Wealthfront's Cash Account offers an APY of 3.30%. At a balance of $10,000, Newtek Bank leads with a rate of 4.20%, while Wealthfront's rate is 3.30%. Newtek Bank has led since at least January 23, 2026.
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 3.95%) on all balances
Why Wealthfront?
- Higher rated iOS app (4.8 vs 4.5)
- Higher rated Android app (4.9 vs 3.9)
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 $866/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
WealthfrontWealthfront offers an iOS app rated 4.8 (vs. 4.5) and Android app rated 4.9 (vs. 3.9)
Shared Benefits
Over a 1-year period, Newtek Bank's Personal High Yield Savings pays $74 more interest on a $10,000 balance than Wealthfront's Cash Account.
*This comparison accounts for Wealthfront'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
Newtek Bank vs. Wealthfront Savings Calculator
You earn $72.5 more with Newtek Bank than Wealthfront 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
Wealthfront
Cash Account
Savings Breakdown
- Interest Earned+$347.50(3.4%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,347.50
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 $341 a year in interest.
Both Newtek Bank and Wealthfront advertise far more than that typical branch-bank rate.
| Feature | Newtek Bank | Wealthfront |
|---|---|---|
| APY | 4.20% Observed: 9/14/2026 Stable over 90 days | 3.95% Range: 3.30% - 3.95% Observed: 9/14/2026 0.05%90-day change |
| Product Name | Personal High Yield Savings | Cash Account |
| Minimum Deposit | $100 | $0 |
| Min. Balance for APY | $0.01 | $0 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Daily | Daily |
| In-Branch Access | No | No |
| Account Type | Online Only | Online Only |
| Physical Branches | 1 (FL) | Not reported |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC or NCUA Insured | YesVerify FDIC | Yes |
| Zelle® Support | Not Supported | Not Supported |
| BBB Rating | A+ | F |
| 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. | Wealthfront is not a bank but a financial services company. It is FDIC-insured through its many partner banks. New clients get the stated APY for 3 months, after which a lower APY applies. See terms at Wealthfront. |
| Next Steps | Visit SiteVerify at Newtek Bank Non-sponsored link to official site | Visit SiteVerify at Wealthfront Non-sponsored link to official site |
What each bank pays on deposits
An advertised rate tells you what a new savings account earns today. It cannot tell you how the bank has priced the savings and money market deposits it already holds, over time. This section shows that. The figure is computed from the interest expense and deposit balances that every bank files with the FDIC in the same form. That is what makes it comparable across banks and across quarters.
Newtek Bank
The two figures answer different questions, so they sit side by side and are not combined.
In Q2 2026, Newtek Bank paid a higher average rate on savings and money market deposits than 100% of banks that reported a figure (3,938 banks; FDIC call report). The all-bank median was 1.45%.
Each figure is that bank's own charter-level average across its whole deposit book, so the two are shown one after the other and are not a ranking.
Wealthfront
Wealthfront is not a bank and files no call report. Its deposits are held at partner banks.
How to read these figures
What the average covers. It is an average across the whole bank, taken from its own quarterly FDIC call report. It covers savings accounts and money market deposit accounts, personal and business, at every balance tier. It also covers accounts that were opened years ago and keep the rate of those years. The FDIC line does not separate consumer accounts.
The second figure. The scale row also shows the average across all interest-bearing deposits: savings, interest checking, money market accounts, CDs, personal and business. That figure covers the whole deposit book. The two are shown separately and are not combined.
What the advertised rate covers. It is the rate that this bank advertises now for a new savings account. Banksparency records it from the bank's website on the date shown beside it.
Why the two differ. They measure different things, so this page shows them side by side and keeps them apart. An advertised rate applies to one account, opened now, at today's price. The average also includes older savings balances at the rates of earlier years, money market balances that were priced in a different rate environment, and business accounts. An average below an advertised rate is the usual result of that arithmetic. On its own it is not evidence about the account that you would open.
What the average is useful for. The bank files the data itself, under reporting instructions that are the same for every filer, and the same computation runs for every bank on this site. That makes it comparable in a way that an advertisement is not. Two things on this page read it: the percentile, which shows where the quarter sits among all filers, and the chart, which shows the direction the figure has moved across quarters.
What the average cannot tell you. It cannot tell you the rate that you would earn. No single customer earns the average. For your rate, read the advertised rate above and the rate tables on this page, each with the date it was observed.
What to do next. Use the advertised rate to work out what a new account earns. Use the chart to see how the quarterly average has moved against the all-bank median. Then compare the advertised rate against the current rates on the savings-rate tables before you open an account.
Definitions: Call Report · Rate Paid on Deposits · Interest-Bearing Deposits · Front Book and Back Book · Deposit Rate Percentile
Average annualized rates paid on savings and money market deposits, and on all interest-bearing deposits, quarterly. The FDIC line for savings includes money market deposit accounts and business savings deposits and does not separate consumer accounts. Source: FDIC call report data, as reported; it may be amended. The percentile compares all FDIC filers, count-weighted. A missing quarter is suppressed, never interpolated. The percentile counts the banks that paid strictly less on savings and money market deposits, one vote per bank, among the 3,938 banks that reported a figure for the quarter ending June 30, 2026.
CD rates, term by term
Wealthfront has no CD listed on Banksparency. Newtek Bank lists 8 CD terms, from 6 to 60 months. Its highest rate is 4.10% APY on the 12-month CD. Each row below is one term, with the FDIC national average for that term beside it.
| Term | Newtek Bank APY | FDIC average (Aug 2026) |
|---|---|---|
| 12 months | 4.10% APY$2,500 minimum | 1.71% |
| 6 months | 4.00% APY$2,500 minimum | 1.41% |
| 9 months | 4.00% APY$2,500 minimum | |
| 18 months | 3.90% APY$2,500 minimum | |
| 24 months | 3.80% APY$2,500 minimum | 1.57% |
| 36 months | 3.80% APY$2,500 minimum | 1.34% |
| 48 months | 2.00% APY$2,500 minimum | 1.27% |
| 60 months | 2.00% APY$2,500 minimum | 1.36% |
Wealthfront: no CD listed on Banksparency.
Compare Savings Rates Over Time
Compare Similar High-Yield Accounts
Compare Newtek Bank vs...
Comparing against Standard Savings
Compare Wealthfront vs...
Comparing against Standard Savings
High Rates (With Checking Bundle)
Looking for something different? Check out these top-rated alternatives.
More Comparisons