Carver Bank vs. Salem Five Direct
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Carver BankHigh Yield Savings Jan 7, 2026 | Salem Five DirecteOne Savings Jan 7, 2026 |
|---|---|---|
| APY | 4.00% | 3.61% |
Est. Earnings | $5,000+$200 $10,000+$400 $25,000+$1,000 | $5,000+$181 $10,000+$361 $25,000+$903 |
Min Deposit | $5,000 | $10 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredMod. MinimumGreat iOS AppGreat Android AppZelle® Supported | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppZelle® Supported |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.21% APY.
Comparison Analysis
Comparing Carver Bank vs. Salem Five Direct
As of Carver Bank offers an APY of 4.00% for its High Yield Savings account, with a minimum balance of $5,000, compared to Salem Five Direct's 3.61% APY for its eOne Savings account, with a minimum balance of $0.01.
Carver Bank pays $39 more than Salem Five Direct on a $10,000 balance after one year. Carver Bank pays $400, while Salem Five Direct pays $361 - an APY advantage for Carver Bank.
Why Carver Bank?
- ✓Higher potential APY (4.00% vs 3.61%)
- ✓Higher rated Android app (4.5 vs 4.2)
Why Salem Five Direct?
No distinct advantages found vs Carver Bank.
— Key Feature Differences —
Better Returns at $10,000
Carver BankCarver Bank's High Yield Savings earns more on smaller deposits (approx. $400 vs $361/yr).
Better Returns at $25,000
Carver BankCarver Bank's High Yield Savings pulls ahead with larger amounts (approx. $1000 vs $903/yr).
Best for Simplicity
Carver BankCarver Bank's High Yield Savings offers 4.00% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Carver Bank's High Yield Savings pays $39 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.
Executive Summary as of
Carver Bank offers a competitive High Yield Savings account with a 4.00% APY, making it the superior choice compared to Salem Five Direct's eOne Savings account, which has a lower APY of 3.61%. Carver Bank's account requires a minimum deposit of $5,000 but has no maintenance fees if this balance is maintained, while Salem Five Direct has a much lower minimum deposit of $10 and no maintenance fees. Both accounts are online-only and do not require direct deposit. Carver Bank's product is noted for its simplicity and better returns at various deposit levels.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
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Top Market Contenders
Carver Bank vs. Salem Five Direct Savings Calculator
You earn $39 more with Carver 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.
Carver Bank
High Yield Savings
Savings Breakdown
- Interest Earned+$400.00(3.8%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,400.00
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.
| Feature | Carver Bank | Salem Five Direct |
|---|---|---|
| APY | 4.00% Verified: 1/7/2026 Stable (90d) | 3.61% Verified: 1/7/2026 ↘︎ 0.40%90d Change |
| Product Name | High Yield Savings | eOne Savings |
| Minimum Deposit | $5,000 | $10 |
| Min. Balance for APY | $5,000 | $0.01 |
| Monthly Fee | $0, of minimum balance requirement met. Otherwise $6. | $0 |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.7 Android4.5 | iOS4.7 Android4.2 |
| Zelle® Support | Available Full native integration in digital banking. | Available Uses shared Salem Five mobile platform. |
| BBB Rating | A+ | A- |
| Next Steps | Visit SiteVerify at Carver Bank 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 | Carver Bank | Salem Five Direct |
|---|---|---|
| High Yield Savings | eOne Savings | |
Current APY | 4.00% | 3.61% |
Trend | Stable | Stable |
Velocity (bps/mo) | -1.0 | -3.4 |
Days Since Change | 309 | 21 |
11-Month High | 4.25% | 4.01% |
11-Month Low | 4.00% | 3.61% |
Adjustments / Mo | 0.09 | 0.26 |
Volatility Score | 0.017 | 0.038 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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