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View all results Bread Savings12-month CD · 12 monthsillustrative · Jul 20, 2026 · 9:15am ET · source4.55%APY · about $1,365 SoFi BankHigh-yield savings · No fixed termillustrative · Jul 20, 2026 · 9:08am ET · source4.50%APY · about $1,350 Ally Bank11-month no-penalty CD · 11 monthsillustrative · Jul 20, 2026 · 9:04am ET · source4.00%APY · about $1,098
NE
12-month CD · 12 months
Newtek Bank
Open directly with the bank
4.30%APY
About $1,290 through its 12 months maturity on your $30,000
illustrative rate · checked Jul 20, 2026 · 9:12am ET · Newtek Bank rate page
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Why this is safe
Why this is safe
Your $30,000 is within the standard $250,000 FDIC limit at this bank, assuming you hold no other deposits there in the same ownership category.
Newtek Bank is a nationally chartered bank supervised by the OCC and covered by the FDIC.
If the bank fails, covered deposits remain protected within the insurance limit.
Rates by time
Rate and term table
already includes . Every row estimates dollars through that row's term; non-deposit yield measures are not guaranteed cash flows.
| Time | Sample APY | Estimated dollars on $30,000 |
|---|---|---|
| 6 months | 4.05% | About $601 through 6 months |
| 1 yearSelected | 4.30% | About $1,290 through 1 year |
| 2 years | 4.15% | About $2,542 through 2 years |
| 3 years | 4.00% | About $3,746 through 3 years |
| 5 years | 3.85% | About $6,237 through 5 years |
Getting out early
What access really costs
Exit this 12 months product at month 6 → penalty about $318 on your amount → effective annual return about 2.13%.
Worked estimate: $638 gross interest through month 6, before tax. Confirm the provider's calculation.Interest schedule
When the money reaches you
ScheduleAt maturity
Monthly-income example$108 a month before tax if paid monthly
Through stated maturityAbout $1,290 before tax through its 12 months maturity
Taxes
Headline rate versus what you keep
Choose your state in After taxes for a complete estimate. The figure below currently uses 0% state tax.
Federal treatmentGenerally taxable as interest or investment income
State treatmentGenerally taxable by your state
Estimated after-tax yield3.27% = $980/yr at 24% federal and no state selected (0%)
Tax form
How to open
What you will need
About 10 minutes. Hugo does not collect any of this information.
- 01Social Security number
- 02Government ID
- 03Funding account and routing number
Provider record
Newtek Bank
CharterFDIC-insured national bank
RegulatorOCC · FDIC
FDIC certificate18734
Operating since1963
Phone1-888-323-1222
Rate sourceNewtek Bank rate page
illustrative rate · checked Jul 20, 2026 · 9:12am ET · Newtek Bank rate page
Against the Treasury curve
Published rates by time
Dots preserve each product's published rate type; the selected product is ringed. Dollar estimates use the terms stated on each product.
5%4%3%
Newtek 4.30% APY · about $1,290
Same job, different trade-offs