Axos Bank vs. Salem Five Direct
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: November 14, 2025
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Summary of Axos Bank vs. Salem Five Direct
Key Metrics at a Glance
| Feature | Axos Bank | Salem Five Direct |
|---|---|---|
| Top Savings APY | 4.51% Axos ONE | 3.71% eOne Savings |
| Minimum to Open | $0 | $10 |
| Minimum Balance for Top APY | $0 | $0.01 |
| Note | This APY is only available with the Axos ONE savings and checking bundle. To qualify, you must either set up a direct deposit of $1,500 and maintain an average daily balance of more than $1,500 in your ONE Checking account, or receive at least $5,000 in total monthly qualifying deposits and maintain an average daily balance of more than $5,000. |
Axos Bank
Strengths
- Axos Bank offers a higher APY of 4.51% for the Axos ONE account.
- Axos Bank has an A+ BBB rating and is BBB Accredited.
- Axos Bank's App Store rating is 4.7, higher than Salem Five Direct's.
Potential Drawbacks
- Axos Bank requires qualifying deposits to earn the highest APY.
- Axos Bank has no physical branches.
Salem Five Direct
Strengths
- Salem Five Direct has no minimum balance requirement for the eOne Savings account.
- Salem Five Direct offers a straightforward savings account with no direct deposit requirement.
Potential Drawbacks
- Salem Five Direct's APY decreased from 4.01% to 3.71% in the last 30 days.
- Salem Five Direct has an A- BBB rating and is not BBB Accredited.
- Salem Five Direct's Google Play rating is lower at 4.2 compared to Axos Bank.
Summary: Axos Bank provides a significantly higher APY of 4.51% compared to Salem Five Direct's 3.71%. However, Axos requires qualifying deposits for this rate and has no branches. Salem Five Direct offers a no-minimum-balance savings account but has seen a recent decrease in APY and has a lower BBB rating. Both banks are online-only, but Axos Bank has a better reputation and app ratings.
→ As of November 14, 2025 Axos Bank offers an APY of 4.51% for its Axos ONE 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.
→ Axos Bank yields $80 more than Salem Five Direct on a $10,000 balance after one year. Axos Bank pays $451, while Salem Five Direct pays $371 - an APY advantage for Axos Bank.
→ In addition, Axos Bank also offers 4.00% APY for the Summit Savings account.
Calculate Savings Growth for Axos Bank vs Salem Five Direct
All calculations are based on APY.
Axos Bank - Axos ONE
Top APY: 4.51%
Total savings breakdown:
- Interest earned: $2,766.7 (13.32%)
- Total contributions: $13,000 (62.60%)
- Initial deposit: $5,000 (24.08%)
Your total balance
$20,766.70
Effective APY: 4.51% (based on your deposit and contributions)
Total balance: $20,766.7
Earnings: $2,766.7
Salem Five Direct - eOne Savings
Top APY: 3.71%
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
Effective APY: 3.71% (based on your deposit and contributions)
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, Axos Bank's total earnings would be $518.6 higher than Salem Five Direct's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare Axos Bank's vs Salem Five Direct's Savings Accounts
| Axos Bank | Salem Five Direct | ||||
|---|---|---|---|---|---|
| Product | Axos ONE | Summit Savings | High Yield Savings | vs | eOne Savings |
| APY | 4.51% (as of 11/14/2025) | 4.00% (as of 11/14/2025) | 0.15% - 0.61% (as of 11/14/2025) | 3.71% (as of 11/14/2025) | |
| Bundled Account | Yes | No | No | No | |
| FDIC-insured | Yes | Yes | Yes | Yes | |
| Online Only | Yes | Yes | Yes | Yes | |
| Compound Frequency | Daily | Daily | Daily | Monthly | |
| Minimum Deposit | $0 | $0 | $0 | $10 | |
| Minimum Balance for APY | $0 | $0 | $0 | $0.01 | |
| Maintenance Fee | $0 | $0 | $0 | $0 | |
| Direct Deposit Required | No. Not required, but is the easiest way to earn the highest APY. | No | No | No | |
| Note | This APY is only available with the Axos ONE savings and checking bundle. To qualify, you must either set up a direct deposit of $1,500 and maintain an average daily balance of more than $1,500 in your ONE Checking account, or receive at least $5,000 in total monthly qualifying deposits and maintain an average daily balance of more than $5,000. | This is a tiered savings account where rates vary based on the balance. The top APY may be earned on a balance up to $9,999.99, while balances above that receive an increasingly lower APY. | |||
| Sponsored Link | LEARN MORE at Axos Bank, Member FDIC | ||||
| App Store Rating | 4.7/5 | 4.7/5 | |||
| Google Play Rating | 4.5/5 | 4.2/5 | |||
| BBB Rating | A+ | A- | |||
Comparative Historical APY Insights (Last 10 Months)
| Axos Bank | Salem Five Direct | ||||
|---|---|---|---|---|---|
| Product | High Yield Savings | Summit Savings | Axos ONE | vs | eOne Savings |
| Latest APY | 0.61 % | 4.00 % | 4.51 % | 3.71 % | |
| Trend | Sideways | Sideways | Sideways | Sideways | |
| Slope (bps/mo) | 0.0 | 0.0 | -4.4 | -1.6 | |
| Rate Changes / Mo | 0.00 | 0.00 | 0.30 | 0.20 | |
| Days Since Last Change | 296 | 137 | 43 | 9 | |
| High (-10 m) | 0.61 % | 4.00 % | 4.86 % | 4.01 % | |
| Low (-10 m) | 0.61 % | 4.00 % | 4.46 % | 3.71 % | |
| Draw-down from High | 0.0 % | 0.0 % | -7.2 % | -7.5 % | |
| Volatility (CV) | 0.000 | 0.000 | 0.031 | 0.020 | |
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.