Salem Five Direct: Savings Account & Rates
Mission: Banksparency aims to make Salem Five Direct's savings account transparent and comparable to the market.
Savings Overview
eOne Savings
| Min. Deposit | $10 |
| Min. Balance | $0.01 |
| Maintenance Fee | $0 |
Market Reality Check
This bank offers rates below the current top tier. The best rates we track are currently above 4.21% APY.
Bank Overview
- HQ LocationSalem, Massachussets
- Founded1855
- AffiliationSalem Five Direct is an online division of Salem Five Cents Savings Bank
- Ratings & Trust
- Zelle® SupportAvailableUses shared Salem Five mobile platform.
- Deposit InsuranceFDIC Insured(Cert: 23296)
Our Take on Salem Five Direct
The Good
- Decent APY of 3.61%
- Low opening deposit ($10)
- No monthly maintenance fees
- Highly rated mobile apps (iOS: 4.7, Android: 4.2)
Considerations
- No physical branch access (online only)
Salem Five Direct offers the eOne Savings account with a competitive APY of 3.61%. This account features a low opening deposit requirement of just $10 and imposes no monthly maintenance fees. Additionally, there are no requirements for direct deposit, and it does not have promotional or tiered rates. However, it is important to note that this is an online-only account, meaning there is no access to physical branches. The bank's mobile apps are highly rated, with scores of 4.7 for iOS and 4.2 for Android.
Top Market Contenders
Savings Account: In-Depth View
Savings Account Offered by Salem Five Direct
| Feature | eOne Savings |
|---|---|
APY | 3.61%Verified: 1/7/2026 |
APY Trend | 30 days ↘︎ 0.10% 90 days ↘︎ 0.40% |
Min. Deposit | $10 |
Min. Balance | $0.01 |
Monthly Fee | $0 |
Direct Deposit | None |
Checking Bundle | No |
Branch Access | None |
Compounding | Monthly |
FDIC Insured | Yes |
Eligibility | United States |
| Next Steps | - |
Calculate Savings for Salem Five Direct
Savings Breakdown
- Interest Earned+$1,408.10(9.1%)
- Total Contributions$13,000
- Initial Deposit$1,000
Projected Balance
$15,408.10
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
Last 11 Months| Metric | eOne Savings |
|---|---|
Latest APY | 3.61% |
Trend | Sideways |
Slope (bps/mo) | -3.3 |
Rate Changes / Mo | 0.26 |
Days Since Last Change | 21 |
High (-11m) | 4.01% |
Low (-11m) | 3.61% |
Draw-down | -10.0% |
Volatility (CV) | 0.037 |
How to read these metrics▼
Trends & Velocity
- Trend
- The general direction of the rate over the analyzed period. Useful for spotting if a bank is currently aggressive or pulling back.
- Slope (bps/mo)
- Speed of change. A high positive number means they raise rates quickly. 10 bps = 0.10%.
- Rate Changes / Mo
- "Twitchiness." High frequency means the rate changes constantly; low frequency means it's stable.
Risk & Range
- High/Low
- The absolute ceiling and floor of the rate during the 350-day window.
- Volatility Score
- Lower is better for predictability. It indicates how wildly the rate swings relative to its average.
- Days Since Change
- If this number is high (e.g., >90), the rate is very sticky. If low, it changed recently.
Why track this? Understanding volatility helps you avoid "bait-and-switch" rates. A steady, rising slope is ideal; high volatility often signals a temporary teaser rate.
Compare with Salem Five Direct
| Feature | Current View Salem Five Direct | Empty Slot |
|---|---|---|
| Product | eOne Savings | - |
APY | 3.61%Verified: 1/7/2026 | - |
APY Trend | 30 days ↘︎ 0.10% 90 days ↘︎ 0.40% | - |
| Min. Deposit | $10 | - |
| Monthly Fee | $0 | - |
Direct Deposit | No | - |
Checking Bundle | No | - |
| Branch Access | None | - |
| Eligibility | United States | - |
Compounding | Monthly | - |
FDIC Insured | Yes | - |
| Next Steps | - | - |
Bank-to-Bank Comparisons
Compare Salem Five Direct's APY of 3.61% with other banks
Alternatives to Salem Five Direct
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For a top list of the highest savings rates, see all HYSA top rates
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