SoFi vs Newtek Bank
SoFi High-Yield Savings pays 4.20% APY; Newtek Bank High-Yield Savings pays 4.20%. Trade-offs depend on what you prioritize — see the breakdown below.
Option A
SoFi
0.80%
APY
- Min
- $0
- Fee
- $0/mo
- FDIC
- Yes
Best for: savers who prefer well-known institutions
Open with SoFi →Option B
Newtek Bank
4.20%
APY
- Min
- $0
- Fee
- $0/mo
- FDIC
- Yes
Best for: savers prioritizing brand familiarity
Open with Newtek Bank →How this comparison was built
Rates and fees are pulled from each provider's published rate disclosures and reviewed by our product data pipeline. The verdict above is generated from the verified data — we don't accept payments to influence rankings. Last refreshed 9/27/2026.