NewtekOne Reviews and Ratings

NewtekOne corporate logo

NewtekOne provides an all-in-one financial platform for business owners and savers, offering competitive high-yield savings (4.20% APY, though new applications are paused) and extensive SBA lending, though users should weigh the convenience of its bundled model against potential service limitations.

Small business owners and savers face fragmented financial ecosystems, often forced to manage separate vendors for banking, lending, payroll, and payment processing.

Coordinating multiple providers creates operational complexity, disjointed support, and wasted administrative time, which hinders business growth and financial efficiency.

NewtekOne consolidates these critical services into a single, NASDAQ-traded holding company, offering an integrated dashboard, consistent US-based support, and competitive rates designed to unify and simplify your entire financial stack.

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What is NewtekOne and how the entity structure works

NewtekOne homepage hero

NewtekOne, Inc. is a financial holding company based in Boca Raton, Florida. It trades on the NASDAQ under the ticker NEWT. The company started in 1998 and has been publicly traded since 2000. In January 2023, Newtek Business Services Corp. changed its name to NewtekOne. At the same time it acquired the National Bank of New York City and became a financial holding company. It renamed that bank Newtek Bank, National Association.

This history matters for one reason. NewtekOne is a parent company with separate subsidiaries. Newtek Bank is the FDIC-insured bank. It holds the savings accounts, CDs and business checking.

The FDIC insures your deposits up to $250,000 per depositor for each ownership category. Newtek Lending and the other business units sit under the same parent but serve different needs.

So a saver at Newtek Bank is a bank customer with FDIC protection. A borrower works with the lending side of the business. A merchant uses Newtek Payments. Each relationship carries its own terms and its own support.

If you searched for older reviews, you may have found the name Newtek Business Services. That was the prior name before the 2023 rebrand.

Newtek Bank reviews and the high-yield savings account

Newtek Bank draws the most search interest of any NewtekOne product. Savers want to know about the high-yield savings account, the CD rates and the business checking. Here is how each one holds up.

Current savings rate and how it compares

As of June 2026, Newtek Bank’s Personal High Yield Savings pays 4.20 percent APY. That rate is more than 11 times the national average of 0.38 percent, per the FDIC. It beats the rate at two popular rivals. Ally Bank pays about 3.00 percent APY. Marcus by Goldman Sachs pays 3.40 percent APY. NerdWallet named Newtek Bank its best savings account for 2026.

The account has no monthly fee. You need only $0.01 to earn interest, and the bank lists a $100 minimum to open. You can make up to six withdrawals or transfers per statement cycle.

There is one big catch right now. As of June 15, 2026, Newtek Bank stopped taking new applications for this account. The bank says demand was too high.

You can join a waitlist on its website. Other Newtek products still accept new customers. Check the rate and the account status before you plan around this product.

CD rates

Newtek Bank also runs a strong CD lineup. As of June 2026, the personal CD rates look like this.

• Six-month CD at 4.00 percent APY
• Nine-month CD at 4.10 percent APY
• 12-month CD at 4.00 percent APY
• 18-month CD at 3.90 percent APY
• 24-month CD at 3.80 percent APY
• 36-month CD at 3.80 percent APY
• 48-month CD at 2.00 percent APY
• 60-month CD at 2.00 percent APY

The 48-month and 60-month CDs pay just 2.00 percent APY, so the best value sits in the shorter terms.

The minimum to open a CD is $2,500. The maximum is $250,000 per account. Early withdrawal penalties apply. For terms under 12 months, the penalty is 90 days of simple interest. For terms of 12 months or more, it is 180 days of simple interest. These rates make Newtek a solid pick for a CD ladder.

Zero-fee business banking

Newtek Bank markets its business checking as Zero-Fee Business Banking. The NewtekOne Checking account pays 1.00 percent APY. It offers unlimited transactions with no monthly service charge. The business money market account pays 3.50 percent APY with no monthly fee. For a business that keeps a working cash balance, the mix of yield and no fees is the main draw.

Newtek Lending reviews, SBA loans and business financing

Newtek Lending is the second big reason people search for NewtekOne reviews. Small business owners want to know about SBA loans, term loans and lines of credit.

SBA 7(a) loans

Newtek is one of the largest SBA preferred lenders by loan volume. Preferred lender status means Newtek can approve SBA loans in-house. It does not have to send each file to the SBA first. That can speed up a decision for a qualified borrower. The government backs SBA 7(a) loans. They help businesses that may not qualify for standard bank credit. Newtek also offers SBA microloans up to $50,000 for businesses with at least one year of tax returns.

Term loans and lines of credit

Newtek’s conventional term loans run from $5,000 to $15 million. They are fully amortizing. Terms can reach 25 years. The company advertises no balloon payments and no standard covenants.

That is unusual for business term loans, which often carry financial covenants. Confirm the terms on your own loan documents before you sign.

Newtek also offers lines of credit. It backs these with accounts receivable, inventory or operating capital. One critique is worth noting. Reviewers at LendingTree and Bankrate say Newtek does not post clear APRs or fees online. Ask for the full rate and fee schedule in writing.

Prequalification process

Newtek lets you prequalify in less than five minutes. The site says this step does not hurt your credit score. Treat the result as a soft check and an early read on eligibility. A hard credit pull and full underwriting come later in the process.

Newtek Advantage and the bundled business services model

Newtek Advantage bundles the company’s services into one platform. It covers lending, banking, payments, insurance, technology, payroll and point-of-sale systems. The pitch is simple. Run several core services through one provider and one dashboard. Newtek also promotes US-based support around the clock.

This model fits a business that wants to cut down on vendors. The value grows with the number of services you move over.

Newtek has promoted a guaranteed savings offer, where it gives a $100 gift card if it cannot beat your current rate on payment processing, payroll or technology. Check the current terms and exclusions on the Newtek Advantage page before you count on it. Read the contract for each service, since each one stands on its own.

Pricing and fees

NewtekOne’s pricing splits by product. On the banking side, the picture is clear and friendly. The savings account, business checking and money market accounts carry no monthly fees. CDs need $2,500 to open and charge early withdrawal penalties.

On the lending side, pricing is harder to pin down. Newtek does not publish set APRs or fees for its loans. Rates depend on the loan type, your credit and SBA program limits.

SBA 7(a) rates track the prime rate plus a lender spread that the SBA caps. For payments, payroll and technology, Newtek quotes custom pricing per business. Always get a written quote so you can compare it with other providers.

NewtekOne at a glance

• Publicly traded bank holding company that trades on the NASDAQ as NEWT
• Legal name NewtekOne, Inc.
• Formerly known as Newtek Business Services Corp.
• Founded in 1998 and public since 2000
• Headquartered in Boca Raton, Florida
• Serves about 2.2 million businesses in all 50 states
• Main subsidiaries include Newtek Bank, Newtek Lending, Newtek Payments, Newtek Insurance, Newtek Technology and Newtek Payroll
• Personal high-yield savings pays 4.20 percent APY as of June 2026, with new applications paused and a waitlist open
• Personal CDs pay 3.80 percent to 4.10 percent APY on popular terms, with 48-month and 60-month terms at 2.00 percent, as of June 2026
• Business checking pays 1.00 percent APY with no monthly fee
• Deposits at Newtek Bank are FDIC-insured up to $250,000 per depositor for each ownership category
• Business loans range from $5,000 to $15 million
• Loan terms reach 25 years with no balloon payments
• One of the largest SBA preferred lenders by loan volume
• Prequalification takes under five minutes with no hit to your credit
• Support is US-based and available around the clock
• BBB accredited with an A+ rating
• About 4.6 stars on Trustpilot for Newtek Bank
• Phone 888-681-7238 and websites newtekone.com and newtekbank.com

NewtekOne reviews and ratings by platform

Newtek serves three buyer groups, so the review data shifts by product. Here is what each platform shows as of June 2026.

Trustpilot reviews

NewtekOne Trustpilot profile

Newtek Bank holds a strong Trustpilot score. As of June 2026, its profile shows 4.6 stars across 376 reviews, which Trustpilot labels Excellent. About 87 percent of those reviews give five stars. The bank has replied to 87 percent of its negative reviews. The separate NewtekOne profile carries close to 280 reviews with a similar tone.

Most reviewers praise the customer service and the ease of opening and managing an account. They name specific reps who helped them by phone. A smaller group reports clerical errors and slow tech support. A few business borrowers say communication dropped off after a loan was denied.

Better Business Bureau reviews

NewtekOne BBB profile

The Better Business Bureau gives NewtekOne, Inc. an A+ rating and lists it as accredited since 2021. As of June 2026, the profile shows 27 complaints over the last three years, with nine closed in the last 12 months. Newtek Bank, National Association holds separate BBB accreditation dated 2023.

Most complaints center on three themes. These are unexpected fees, stalled loan approvals and weak communication from support. One recurring complaint involves unwanted marketing emails. BBB customer review scores sit lower than Trustpilot, near 3.6 out of 5 across about 33 reviews.

Google and app store reviews

Newtek Bank’s mobile app earns about 4.5 stars across roughly 345 ratings on the Apple App Store. The Google Play version sits lower, near 3.9 stars on a smaller count.

Users like the quick setup and the simple transfers. A vocal minority reports login errors and trouble moving money out, which drags the Android score. This split fits the broader pattern. Service and ease of use win praise, while tech glitches draw the complaints.

Reddit reviews

Reddit users in personal finance and banking threads rate Newtek Bank well for its savings account. They point to the high APY, the lack of odd fees and the clean review record. One common note is that Newtek is a real bank, not a fintech, which gives some savers comfort. New posters often ask whether the bank is reliable, and current customers tend to vouch for it.

On the small business side, Reddit chatter about Newtek’s SBA loans is light. SBA borrowers across Reddit warn that SBA loans take time and paperwork, no matter the lender. Plan for a longer process.

Outcomes and success rate

NewtekOne shares some scale figures. The company says it serves about 2.2 million businesses and ranks among the largest SBA preferred lenders by volume. Because NewtekOne is public, you can check its audited results in SEC filings rather than rely on the website alone.

For savers, the outcome is easy to measure. At 4.20 percent APY, a $10,000 balance earns about $420 over one year if the rate holds. Keep in mind the rate is variable. It can change with the federal funds rate.

For borrowers, results vary by file. SBA approval depends on your credit, your business history and SBA program rules. Newtek’s preferred lender status can shorten the wait, but no lender can promise approval. Treat any savings or approval claim as a range, not a guarantee.

NewtekOne Pros and cons

Pros

• Top-tier savings rate at 4.20 percent APY, far above the national average
• FDIC-insured deposits through Newtek Bank
• No monthly fees on savings, checking and money market accounts
• Strong CD lineup that works well for a ladder
• One of the largest SBA preferred lenders, with in-house approval authority
• Business loans up to $15 million with no balloon payments
• Fast, soft-pull prequalification
• US-based support around the clock
• One platform for banking, lending, payments, payroll and more
• More than 25 years in business and public financial reporting

Cons

• New savings applications are paused as of June 2026, with only a waitlist open
• The savings rate is variable and can drop
• Loan APRs and fees are not posted online
• Complaints cite stalled approvals and weak communication
• The multi-entity setup can confuse customers about which company they deal with
• Some reviewers report unwanted marketing emails
• BBB review scores trail the Trustpilot scores

Who NewtekOne is best for

Newtek Bank suits savers who want a top rate, FDIC protection and a simple online account. It fits people who do not need a branch or frequent withdrawals. Once new applications reopen, rate chasers should compare it with Ally and Marcus on the same day.

Newtek Lending suits small business owners who need SBA or term financing between $5,000 and $15 million. It works well for owners who want long terms and no balloon payment. Newtek Advantage fits a business that juggles many vendors and wants to bring banking, payments and payroll under one roof.

Who should avoid NewtekOne

Skip Newtek Bank if you need branch access, an ATM network or many monthly withdrawals. It runs as an online-only bank.

Borrowers who want a clear rate before they apply may find the lack of posted pricing frustrating. Owners who need a flexible revolving line, or who run a business in an SBA-restricted industry, should confirm the product fits before they apply. And if you want to open the savings account today, the current application pause may push you to a rival.

NewtekOne versus Live Oak Bank for SBA lending

Live Oak Bank is the closest rival for SBA lending. It ranks as a top SBA 7(a) lender by approval amount. Both firms are SBA preferred lenders. Both fund loans up to $15 million. Here is how they compare.

• Live Oak focuses tightly on SBA and small business lending. Newtek pairs lending with banking, payments and payroll.
• Live Oak posts strong marks on Trustpilot across more than 1,900 reviews. Newtek shows about 4.6 stars on a smaller review count.
• Live Oak Express loans carry no prepayment penalties. Confirm Newtek’s prepayment terms on your loan documents.

For the savings side, the better rate comparison is Ally and Marcus, not Live Oak. As of June 2026, Newtek’s 4.20 percent APY beats Ally near 3.00 percent and Marcus at 3.40 percent. Live Oak’s personal savings pays about 3.80 percent, so Newtek edges it on rate.

Is NewtekOne legitimate?

Yes. NewtekOne is a legitimate, publicly traded company on the NASDAQ. It files its financial statements with the SEC, where anyone can read them. That is more transparency than any private firm can offer.

Newtek Bank is a real, FDIC-insured national bank. The FDIC protects your deposits up to $250,000 per depositor for each ownership category. The company holds BBB accreditation with an A+ rating.

Newtek Bank has no major regulatory enforcement actions on record. The complaints that exist are normal for a firm of this size and focus on service and fees, not fraud.

NewtekOne final verdict

NewtekOne tries to solve a real problem. Many small businesses juggle one bank for deposits, another lender for loans and more vendors for payments and payroll. NewtekOne puts these under one roof.

The savings rate is excellent and easy to recommend, once new applications reopen. The CDs are strong. The lending arm is large and SBA-friendly, though the lack of posted rates means you must ask for a written quote.

The right move depends on why you came. A saver should check the live rate and the waitlist, then compare with Ally and Marcus. A borrower should use the five-minute prequalification to get a real offer before comparing lenders.

A business owner who wants one platform should price the bundle against current vendors. For most users, NewtekOne earns a strong score with two clear caveats. Watch the variable savings rate, and get loan pricing in writing.

Frequently asked questions

Is Newtek Bank FDIC-insured?

Yes. Newtek Bank, National Association is a member of the FDIC. The FDIC insures your deposits up to $250,000 per depositor for each ownership category.

What is the Newtek Bank savings rate right now?

As of June 2026, the Personal High Yield Savings pays 4.20 percent APY. The rate is variable, so it can change. New applications are paused, with a waitlist open on the bank’s website.

Is NewtekOne the same as Newtek Bank?

Not exactly. NewtekOne, Inc. is the parent holding company. Newtek Bank is its FDIC-insured banking subsidiary. Newtek Lending and the other units sit under the same parent but handle different services.

How much can I borrow from Newtek?

Newtek offers business loans from $5,000 to $15 million. It also offers SBA microloans up to $50,000. You can prequalify in under five minutes with no hit to your credit.

Does Newtek charge monthly fees on its bank accounts?

No. The savings, business checking and money market accounts have no monthly service fees. CDs need $2,500 to open and charge a penalty for early withdrawal.

Legal disclaimer

Disclaimer. This article is for informational purposes only and does not constitute legal, financial, or tax advice. Deposit accounts at Newtek Bank are FDIC-insured up to $250,000 per depositor for each ownership category. Loan approval depends on credit review and SBA program eligibility where it applies. Interest rates and APYs can change, and the figures here reflect rates available as of June 2026. NewtekOne, Newtek Bank and Newtek Lending are separate legal entities. Always confirm current rates and terms directly with NewtekOne before you make a financial decision. Always consult a licensed professional for advice tailored to your situation.