American Express vs. Salem Five Direct
Comparing American Express and Salem Five Direct for high-yield savings: American Express's High Yield Savings Account pays 3.30% APY while Salem Five Direct's eOne Savings pays 3.61% APY.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? Salem Five Direct pays $31 more than American Express annually ($361 vs $330).
Choose Salem Five Direct if getting the best rate matters most, or BBB rating matters to you.
| Metric | American ExpressHigh Yield Savings Account Feb 21, 2026 | Salem Five DirecteOne Savings Feb 21, 2026 |
|---|---|---|
| APY | 3.30% | 3.61% |
Est. Earnings | $5,000+$165 $10,000+$330 $25,000+$825 | $5,000+$181 $10,000+$361 $25,000+$903 |
Min Deposit | $0 | $10 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredNo MinimumsGreat iOS AppZelle® SupportedDaily CompoundingRate Changes Often | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppZelle® SupportedRate Changes Often |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.15% APY.
Comparison Analysis
Comparing American Express vs. Salem Five Direct
Executive Summary
Salem Five Direct offers a competitive eOne Savings account with a higher APY of 3.61%, compared to American Express's High Yield Savings Account, which yields 3.30%. Both accounts have no maintenance fees and are online-only, providing easy access to funds. Salem Five Direct's account is particularly advantageous for smaller deposits, with better returns at various amounts, making it ideal for those seeking simplicity without direct deposit requirements. American Express's account, while slightly lower in APY, also has no minimum deposit or balance requirements, serving as a solid alternative.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why American Express?
No distinct advantages found vs Salem Five Direct.
Why Salem Five Direct?
- ✓Higher potential APY (3.61% vs 3.30%) on all balances
- ✓Higher rated Android app (4.1 vs 3.6)
— Key Feature Differences —
Better Returns at $10,000
Salem Five DirectSalem Five Direct's eOne Savings earns more on smaller deposits (approx. $361 vs $330/yr).
Better Returns at $25,000
Salem Five DirectSalem Five Direct's eOne Savings pulls ahead with larger amounts (approx. $903 vs $825/yr).
Best for Simplicity
Salem Five DirectSalem Five Direct's eOne Savings offers 3.61% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Salem Five Direct's eOne Savings pays $31 more interest on a $10,000 balance than American Express's High Yield Savings Account.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
American Express vs. Salem Five Direct Savings Calculator
You earn $31 more with Salem Five Direct than American Express on a $10,000 initial deposit for 1 year*.
*This calculation assumes that APYs remain unchanged for 1 year, and takes into account known promo rate periods, but does not factor in bonuses. You can see how often these banks have changed their rates in the Compare Savings Rates Over Time section below.
American Express
High Yield Savings Account
Savings Breakdown
- Interest Earned+$330.00(3.2%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,330.00
Salem Five Direct
eOne Savings
Savings Breakdown
- Interest Earned+$361.00(3.5%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,361.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Still banking with Chase, Bank of America, or Wells Fargo?
On a $10,000 balance, you're missing out on at least $329 per year in interest.
Both American Express and Salem Five Direct dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | American Express | Salem Five Direct |
|---|---|---|
| APY | 3.30% Verified: 2/21/2026 ↘︎ 0.20%90d Change | 3.61% Verified: 2/21/2026 ↘︎ 0.10%90d Change |
| Product Name | High Yield Savings Account | eOne Savings |
| Minimum Deposit | $0 | $10 |
| Min. Balance for APY | $0 | $0.01 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Daily | Monthly |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Physical Branches | None | None |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Available Requires Amex Rewards Checking; not available for standalone HYSA. | Available Uses shared Salem Five mobile platform. |
| BBB Rating | F | A- |
| Next Steps | Visit SiteVerify at American Express Non-sponsored link to official site | Visit SiteVerify at Salem Five Direct Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | American Express | Salem Five Direct |
|---|---|---|
| High Yield Savings Account | eOne Savings | |
Current APY | 3.30% | 3.61% |
Trend | Stable | Stable |
Velocity (bps/mo) | -3.6 | -4.2 |
Days Since Change | 53 | 66 |
12-Month High | 3.70% | 4.01% |
12-Month Low | 3.30% | 3.61% |
Adjustments / Mo | 0.33 | 0.25 |
Volatility Score | 0.038 | 0.045 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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More Comparisons
Compare American Express' APY of 3.30% with other banks
Compare Salem Five Direct's APY of 3.61% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Salem Five Direct vs Ally Bank | 3.20% | $0 |
| Salem Five Direct vs Axos Bank | 4.21% | $0 |
| Salem Five Direct vs Bank of America | 0.01% | $100 |
| Salem Five Direct vs Barclays | 3.85% | $0 |
| Salem Five Direct vs Capital One | 3.30% | $0 |
| Salem Five Direct vs Chase Bank | 0.01% | $0 |
| Salem Five Direct vs Chime | 3.00% | $0 |
| Salem Five Direct vs CIT Bank | 3.75% | $100 |
| Salem Five Direct vs Citibank | 3.20% | $0 |
| Salem Five Direct vs Discover Bank | 3.30% | $0 |
| Salem Five Direct vs EverBank | 3.90% | $0 |
| Salem Five Direct vs Marcus by Goldman Sachs | 3.65% | $0 |
| Salem Five Direct vs Newtek Bank | 4.20% | $0.01 |
| Salem Five Direct vs Openbank | 4.09% | $500 |
| Salem Five Direct vs Pibank | 4.60% | $0 |
| Salem Five Direct vs SoFi Bank | 4.00% | $0 |
| Salem Five Direct vs Synchrony Bank | 3.50% | $0 |
| Salem Five Direct vs Varo Bank | 5.00% | $0 |
| Salem Five Direct vs Wealthfront | 3.95% | $0 |
| Salem Five Direct vs Wells Fargo | 0.05% | $25 |