Axos Bank vs. Salem Five Direct
Comparing Axos Bank and Salem Five Direct for high-yield savings: Axos Bank's Axos ONE pays 4.21% APY while Salem Five Direct's eOne Savings pays 3.61% APY.
Note: Axos Bank requires a checking account.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? Axos Bank pays $60 more than Salem Five Direct annually ($421 vs $361).
Choose Axos Bank if getting the best rate matters most. Choose Salem Five Direct if you want a no-strings-attached account, or you want Zelle for quick transfers.
Important Considerations
Axos Bank requires a checking account to unlock its top savings rate, while Salem Five Direct offers its savings account standalone.
| Metric | Axos BankAxos ONE Feb 21, 2026 | Salem Five DirecteOne Savings Feb 21, 2026 |
|---|---|---|
| APY | 4.21% | 3.61% |
Est. Earnings | $5,000+$211 $10,000+$421 $25,000+$1,053 | $5,000+$181 $10,000+$361 $25,000+$903 |
Min Deposit | $0 | $10 |
Snapshot view. Rates subject to change. | ||
Terms | The 4.21% APY is available with the Axos ONE savings and checking bundle. The checking account earns 0.51% APY. 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. | - |
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppChecking BundleDaily CompoundingRate Changes Often | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppZelle® SupportedRate Changes Often |
Prefer In-Person Banking?
Both of these banks are online-only. If you need physical branch access, check out our list of high-yield accounts with brick-and-mortar locations.
Comparison Analysis
Comparing Axos Bank vs. Salem Five Direct
Executive Summary
Axos Bank offers a superior savings product with its Axos ONE, providing a competitive APY of 4.21% when paired with a checking account, compared to Salem Five Direct's eOne Savings, which earns 3.61%. The Axos ONE requires either a direct deposit of $1,500 or monthly qualifying deposits of at least $5,000 to achieve the highest rate. In contrast, Salem Five Direct's eOne Savings has a minimum deposit of $10 but does not require direct deposit. Both banks feature online-only services and have no maintenance fees.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Axos Bank?
- ✓Earn 0.51% APY on checking account
- ✓Access to 95,000 fee-free ATMs
- ✓Higher potential APY (3.75%-4.21% vs 3.61%) on all balances
- ✓Higher rated Android app (4.6 vs 4.1)
- ✓Offers 2 different high-yield savings options
Why Salem Five Direct?
- ✓Fast transfers via Zelle®
— Key Feature Differences —
Better Returns at $10,000
Axos BankAxos Bank's Axos ONE earns more on smaller deposits (approx. $421 vs $361/yr).
Better Returns at $25,000
Axos BankAxos Bank's Axos ONE pulls ahead with larger amounts (approx. $1053 vs $903/yr).
Best for All-in-One Banking
Axos BankAxos Bank's Axos ONE pays a superior APY for customers who also open a checking account.
Shared Benefits
Over a 1-year period, Axos Bank's Axos ONE pays $60 more interest on a $10,000 balance than Salem Five Direct's eOne Savings.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
* Secure link to our partner
Non-sponsored link to official site
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Axos Bank vs. Salem Five Direct Savings Calculator
You earn $60 more with Axos Bank than Salem Five Direct 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.
Axos Bank
Axos ONE
Savings Breakdown
- Interest Earned+$421.00(4.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,421.00
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 $360 per year in interest.
Both Axos Bank and Salem Five Direct dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Axos Bank | Salem Five Direct |
|---|---|---|
| APY | 4.21% Verified: 2/21/2026 ↘︎ 0.30%90d Change | 3.61% Verified: 2/21/2026 ↘︎ 0.10%90d Change |
| Product Name | Axos ONE | 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. | Not required, but is the easiest way to earn the highest APY. | None |
| Checking Bundle | Yes | No |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Not Supported | Available Uses shared Salem Five mobile platform. |
| BBB Rating | A+ | A- |
| Important Notes | The 4.21% APY is available with the Axos ONE savings and checking bundle. The checking account earns 0.51% APY. 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. | - |
| Next Steps | Visit SiteGo to Axos Bank * Secure link to our partner | Visit SiteVerify at Salem Five Direct Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Axos Bank | Salem Five Direct | ||
|---|---|---|---|---|
| Summit Savings | Axos ONE | High Yield Savings | eOne Savings | |
Current APY | 3.75% | 4.21% | 0.61% | 3.61% |
Trend | Stable | Stable | Stable | Stable |
Velocity (bps/mo) | -4.2 | -4.8 | 0.0 | -4.2 |
Days Since Change | 72 | 21 | 365 | 66 |
12-Month High | 4.00% | 4.86% | 0.61% | 4.01% |
12-Month Low | 3.75% | 4.21% | 0.61% | 3.61% |
Adjustments / Mo | 0.08 | 0.41 | 0.00 | 0.25 |
Volatility Score | 0.031 | 0.040 | 0.000 | 0.045 |
How to read these metrics(Click to expand)
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Compare Axos Bank's APY of 4.21% 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 American Express | 3.30% | $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 |