Last Updated:
Newtek Bank Review 2026
Quick Summary
Rating
4.4/5 ⭐
Savings APY
4.35%
Checking APY
N/A
Monthly Fee
$0
Best for: Savers seeking a top‑tier APY and minimal requirements
What is Newtek Bank?
Newtek Bank is a savings-focused online bank offering competitive rates and modern banking features.
✓ Pros
- Very high APY on personal high‑yield savings
- No minimum deposit or monthly maintenance fees
- FDIC‑insured and easy online account opening
- Business banking products also available
✗ Cons
- No personal checking account available
- Limited track record as a new digital bank
- Six‑withdrawal limit per statement cycle
Account Details
| Savings APY | 4.35% |
| Checking APY | N/A |
| Min Deposit | $0 |
| Monthly Fee | $0 |
| ATM Access | No ATM card |
| Mobile App | Good |
| FDIC Insured | Yes |
Who Should Choose Newtek Bank?
Best for: Savers seeking a top‑tier APY and minimal requirements