Ally Bank vs. Salem Five Direct
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: November 14, 2025
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Summary of Ally Bank vs. Salem Five Direct
Key Metrics at a Glance
| Feature | Ally Bank | Salem Five Direct |
|---|---|---|
| Top Savings APY | 3.30% Savings Account | 3.71% eOne Savings |
| Minimum to Open | $0 | $10 |
| Minimum Balance for Top APY | $0 | $0.01 |
Ally Bank
Strengths
- Ally Bank offers a $0 minimum deposit and balance requirement for its Savings Account.
- Ally Bank has a higher App Store rating of 4.7 compared to Salem Five Direct's 4.7.
- Ally Bank has no maintenance fees for its Savings Account.
Potential Drawbacks
- Ally Bank's current APY is 3.30%, lower than 3.40% 30 days ago.
Salem Five Direct
Strengths
- Salem Five Direct's eOne Savings account offers a higher APY of 3.71%.
- Salem Five Direct has no maintenance fees for its eOne Savings account.
Potential Drawbacks
- Salem Five Direct's current APY has decreased from 4.01% 30 days ago.
- Salem Five Direct requires a $10 minimum deposit to open the eOne Savings account.
→ As of November 14, 2025 Ally Bank offers an APY of 3.30% for its Savings Account, with a minimum balance of $0, compared to Salem Five Direct's 3.71% APY for its eOne Savings account, with a minimum balance of $0.01.
→ Salem Five Direct yields $41 more than Ally Bank on a $10,000 balance after one year. Ally Bank pays $330, while Salem Five Direct pays $371 - an APY advantage for Salem Five Direct.
Calculate Savings Growth for Ally Bank vs Salem Five Direct
Ally Bank - Savings Account
Total savings breakdown:
- Interest earned: $1,987.1 (9.94%)
- Total contributions: $13,000 (65.04%)
- Initial deposit: $5,000 (25.02%)
Your total balance
$19,987.10
Total balance: $19,987.1
Earnings: $1,987.1
Bank OverviewSalem Five Direct - eOne Savings
Total savings breakdown:
- Interest earned: $2,248.1 (11.10%)
- Total contributions: $13,000 (64.20%)
- Initial deposit: $5,000 (24.69%)
Your total balance
$20,248.10
Total balance: $20,248.1
Earnings: $2,248.1
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, Ally Bank's total earnings would be $261 lower than Salem Five Direct's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare Ally Bank's vs Salem Five Direct's Savings Accounts
| Ally Bank | Salem Five Direct | ||
|---|---|---|---|
| Product | Savings Account | vs | eOne Savings |
| APY | 3.30% (as of 11/14/2025) | 3.71% (as of 11/14/2025) | |
| Bundled Account | No | No | |
| FDIC-insured | Yes | Yes | |
| Online Only | Yes | Yes | |
| Compound Frequency | Daily | Monthly | |
| Minimum Deposit | $0 | $10 | |
| Minimum Balance for APY | $0 | $0.01 | |
| Maintenance Fee | $0 | $0 | |
| Direct Deposit Required | No | No | |
| App Store Rating | 4.7/5 | 4.7/5 | |
| Google Play Rating | 4.3/5 | 4.2/5 | |
| BBB Rating | A+ | A- |
Comparative Historical APY Insights (Last 10 Months)
| Ally Bank | Salem Five Direct | ||
|---|---|---|---|
| Product | Savings Account | vs | eOne Savings |
| Latest APY | 3.30 % | 3.71 % | |
| Trend | Sideways | Sideways | |
| Slope (bps/mo) | -4.1 | -1.6 | |
| Rate Changes / Mo | 0.52 | 0.21 | |
| Days Since Last Change | 14 | 9 | |
| High (-10 m) | 3.80 % | 4.01 % | |
| Low (-10 m) | 3.30 % | 3.71 % | |
| Draw-down from High | -13.2 % | -7.5 % | |
| Volatility (CV) | 0.035 | 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 291 days.
- Low (-10 m)
- Lowest APY in the last 291 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.