Bank Of America vs. Salem Five Direct
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: November 14, 2025
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Summary of Bank of America vs. Salem Five Direct
Key Metrics at a Glance
| Feature | Bank of America | Salem Five Direct |
|---|---|---|
| Top Savings APY | 0.01% Advantage Savings | 3.71% eOne Savings |
| Minimum to Open | $100 | $10 |
| Minimum Balance for Top APY | $0.01 | |
| Note | APY may vary by market. The monthly fee may be waived under some circumstances, such as if you maintain a minimum balance of $500, or are below the age of 25, etc. |
Bank of America
Strengths
- Bank of America has a strong BBB rating of A+ and is accredited.
- The Advantage Savings account allows a minimum deposit of $100.
Potential Drawbacks
- The current APY for Advantage Savings is only 0.01%, unchanged from 30 days ago.
- Bank of America charges an $8 monthly maintenance fee.
Salem Five Direct
Strengths
- Salem Five Direct offers a competitive APY of 3.71%, down from 4.01% last month.
- The eOne Savings account has no maintenance fees.
Potential Drawbacks
- Salem Five Direct has a lower BBB rating of A- and is not accredited.
- The eOne Savings account requires a minimum deposit of $10.
→ As of November 14, 2025 Bank of America offers an APY of 0.01% for its Advantage Savings account, with a minimum balance of , 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 $370 more than Bank of America on a $10,000 balance after one year. Bank of America pays $1, while Salem Five Direct pays $371 - an APY advantage for Salem Five Direct.
Calculate Savings Growth for Bank of America vs Salem Five Direct
Bank of America - Advantage Savings
Total savings breakdown:
- Interest earned: $5.7 (0.03%)
- Total contributions: $13,000 (72.20%)
- Initial deposit: $5,000 (27.77%)
Your total balance
$18,005.70
Total balance: $18,005.7
Earnings: $5.7
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, Bank of America's total earnings would be $2,242.4 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 Bank of America's vs Salem Five Direct's Savings Accounts
| Bank of America | Salem Five Direct | ||
|---|---|---|---|
| Product | Advantage Savings | vs | eOne Savings |
| APY | 0.01% (as of 11/14/2025) | 3.71% (as of 11/14/2025) | |
| Bundled Account | No | No | |
| FDIC-insured | Yes | Yes | |
| Online Only | No | Yes | |
| Compound Frequency | Monthly | Monthly | |
| Minimum Deposit | $100 | $10 | |
| Minimum Balance for APY | N/A | $0.01 | |
| Maintenance Fee | $8 | $0 | |
| Direct Deposit Required | No | No | |
| Note | APY may vary by market. The monthly fee may be waived under some circumstances, such as if you maintain a minimum balance of $500, or are below the age of 25, etc. | ||
| App Store Rating | 4.8/5 | 4.7/5 | |
| Google Play Rating | 4.6/5 | 4.2/5 | |
| BBB Rating | A+ | A- |
Comparative Historical APY Insights (Last 10 Months)
| Bank of America | Salem Five Direct | ||
|---|---|---|---|
| Product | Advantage Savings | vs | eOne Savings |
| Latest APY | 0.01 % | 3.71 % | |
| Trend | Sideways | Sideways | |
| Slope (bps/mo) | -0.0 | -1.6 | |
| Rate Changes / Mo | 0.00 | 0.21 | |
| Days Since Last Change | 289 | 9 | |
| High (-10 m) | 0.01 % | 4.01 % | |
| Low (-10 m) | 0.01 % | 3.71 % | |
| Draw-down from High | 0.0 % | -7.5 % | |
| Volatility (CV) | 0.000 | 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 290 days.
- Low (-10 m)
- Lowest APY in the last 290 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.