Salem Five Direct: Savings Accounts & Rates
By Aviel Fahl
Savings rates updated: 11/15/2025
Mission statement: Banksparency aims to make Salem Five Direct's savings accounts transparent and comparable to those of other banks. .
Note: Interest rates below are reported as APY, or Annual Percentage YieldWe earn a commission if you open an account through some links on this page.
Savings Overview
eOne Savings: 3.71% APY(Rank 60 out of 86 tracked HYSAs)
National Savings Interest Rate: 0.4% (as of 10/20/2025)
Note: The FDIC tracks savings and CD rates nationally, but it does not report APY, only the average interest rate.
(Source: FDIC)Bank Overview
Location: Salem, Massachussets
Founded: 1855
Affiliation: Salem Five Direct is an online division of Salem Five Cents Savings Bank
Access to Branches: None
BBB Rating: A- (Not BBB Accredited)
App Store Rating: 4.7/5
Google Play Rating: 4.2/5
Website: Visit Salem Five Direct
Our Take on Salem Five Direct
Highlights
- Current APY of 3.71%, competitive for high-yield savings accounts.
- No maintenance fees, making it cost-effective.
- Minimum deposit requirement is only $10.
- High App Store rating of 4.7.
Considerations
- APY decreased from 3.81% in the last 30 days.
- No physical branches available for in-person assistance.
- Not BBB accredited, which may concern some customers.
- Direct deposit not required, but may limit some features.
Savings Account: In-Depth View
Savings Account Offered by Salem Five Direct
| Feature | eOne Savings |
|---|---|
| APY | 3.71% (as of 11/15/2025) |
| APY Trend | -0.10% MoM/-0.30% QoQ |
| Minimum Deposit | $10 |
| Minimum Balance for APY | $0.01 |
| FDIC-insured | Yes |
| Online Only | Yes |
| Bundled Account | No |
| Direct Deposit Required | No |
| Compound Frequency | Monthly |
| Maintenance Fee | $0 |
| Eligibility | United States |
| Sponsored Link | |
No deposit agreement summary available for this bank. | |
Calculate Savings for Salem Five Direct
eOne Savings (APY: 3.71%)
Total savings breakdown:
- Interest earned: $1,449 (9.38%)
- Total contributions: $13,000 (84.15%)
- Initial deposit: $1,000 (6.47%)
Your total balance
$15,449.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Salem Five Direct Savings Rates Over Time
Historical APY Insights
| Metric | eOne Savings |
|---|---|
| Latest APY | 3.71 % |
| Trend | Sideways |
| Slope (bps/mo) | -1.6 |
| Rate Changes / Mo | 0.20 |
| Days Since Last Change | 10 |
| High (-10 m) | 4.01 % |
| Low (-10 m) | 3.71 % |
| Draw-down from High | -7.5 % |
| Volatility (CV) | 0.021 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 10 months (regression slope).
- Slope (bps/mo)
- Average monthly change; 10 bps = 0.10 pp.
- Rate Changes / Mo
- Typical number of APY moves per month.
- Days Since Last Change
- Recency of the latest APY adjustment.
- High (-10 m)
- Highest APY in the last 297 days.
- Low (-10 m)
- Lowest APY in the last 297 days.
- Draw-down from High
- How far today sits below the 10-month peak.
- Volatility (CV)
- Coefficient of variation = stdev ÷ mean.
Why Track Savings-Account APYs?
- See how quickly a bank reacts to Fed moves or competition.
- Gauge “twitchiness” - frequent moves can annoy savers.
- Spot if you're buying near a peak (draw-down) or riding a rise.
- Slope (bps/mo) shows speed of change.
- Volatility (CV) scales jumps by average level.
Compare Salem Five Direct's Savings Account
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- CIT Bank - 0.25-3.85% APY
- Citibank - 3.35% APY
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- Jenius Bank - 4.20% APY
- LendingClub - 3.20-4.20% APY
- Live Oak Bank - 3.90% APY
- Marcus by Goldman Sachs - 3.65% APY
- MutualOne Bank - 4.07% APY
- My Banking Direct - 4.02% APY
- MySavingsDirect - 3.75% APY
- Neighbors Bank - 4.50% APY
- Newtek Bank - 4.35% APY
- Northeast Bank - 2.50-3.00% APY
- OMB Bank - 1.00% APY
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- Popular Direct - 4.00% APY
- Presidential Bank - 3.75-4.25% APY
- Prime Alliance Bank - 3.90% APY
- Primis Bank - 3.85% APY
- Quontic Bank - 3.75% APY
- RBMAX - 3.90% APY
- Rising Bank - 3.95% APY
- ROGER - 3.87% APY
- Sallie Mae Bank - 3.90% APY
- Santander Bank - 0.01% APY
- SmartyPig - 3.90% APY
- SoFi Bank - 4.30% APY
- Synchrony Bank - 3.80% APY
- TAB Bank - 3.80% APY
- TD Bank - 0.05-2.75% APY
- The State Exchange Bank - 3.96% APY
- TIMBR - 4.40% APY
- UFB Direct - 3.51-3.71% APY
- Upgrade - 3.05% APY
- Valley Direct - 4.10% APY
- Varo Bank - 2.50-5.00% APY
- Vio Bank - 4.21% APY
- Wealthfront - 3.50-4.15% APY
- Wells Fargo - 0.05-0.05% APY
- Western Alliance Bank - 4.05% APY
- Zynlo Bank - 4.20% APY
| Feature | Salem Five Direct | Select a bank... |
|---|---|---|
| Product | eOne Savings | N/A |
| APY | 3.71% (as of 11/15/2025) | N/A |
| Bundled Account | No | N/A |
| FDIC-insured | Yes | N/A |
| Online Only | Yes | N/A |
| Compound Frequency | Monthly | N/A |
| Minimum Deposit | $10 | N/A |
| Minimum Balance for APY | $0.01 | N/A |
| Maintenance Fee | $0 | N/A |
| Direct Deposit Required | No | N/A |
Bank-to-Bank Comparisons
Compare Salem Five Direct's APY of 3.71% with other banks
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The State Exchange Bank
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