Charles Schwab Bank vs. Salem Five Direct
Compare rates, requirements, and features side-by-side to find the best option for you.
Charles Schwab Bank
Schwab Bank Investor Savings™
0.15%APYDec 10, 2025FDIC InsuredNo MinimumsGreat iOS AppIn-Person AccessShow Fine Print & Trends Hide Details
Charles Schwab Bank
Schwab Bank Investor Savings™
Salem Five Direct
eOne Savings
3.71%APYDec 10, 2025FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppShow Fine Print & Trends Hide Details
Salem Five Direct
eOne Savings
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.25% APY.
Charles Schwab Bank vs. Salem Five Direct Savings Calculator
Salem Five Direct earns $2,162 more than Charles Schwab Bank.
Charles Schwab Bank
Schwab Bank Investor Savings™
Savings Breakdown
- Interest Earned+$86.10(0.5%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$18,086.10
Salem Five Direct
eOne Savings
Savings Breakdown
- Interest Earned+$2,248.10(11.1%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,248.10
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Comparison Analysis
Comparing Charles Schwab Bank vs. Salem Five Direct
Why Charles Schwab Bank?
No distinct advantages found vs Salem Five Direct.
Why Salem Five Direct?
- ✓Higher potential APY (3.71% vs 0.15%) on all balances
- ✓No checking account or direct deposit required
- ✓Higher rated Android app (4.2 vs 2.9)
— Key Feature Differences —
Better Returns at $10,000
Salem Five DirectSalem Five Direct's eOne Savings earns more on smaller deposits (approx. $371 vs $15/yr).
Better Returns at $25,000
Salem Five DirectSalem Five Direct's eOne Savings pulls ahead with larger amounts (approx. $928 vs $38/yr).
Best for Simplicity
Salem Five DirectSalem Five Direct's eOne Savings offers 3.71% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Salem Five Direct's eOne Savings pays $356 more interest on a $10,000 balance than Charles Schwab Bank's Schwab Bank Investor Savings™.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary
Salem Five Direct offers a significantly higher APY of 3.71% on its eOne Savings account, making it the clear winner compared to Charles Schwab Bank's Schwab Bank Investor Savings™, which provides an APY of 0.15%. Salem Five's account requires a minimum deposit of $10 and has no maintenance fees, while also being online-only. Both accounts have no direct deposit requirement and a minimum balance of $0.01. For those seeking higher returns on savings, Salem Five Direct's eOne Savings is a more attractive option.
Analysis generated based on current Banksparency database records
* AI-generated content provided for informational purposes only. Accuracy is not guaranteed; always verify details with the provider.
Top Market Contenders
See who beats both Charles Schwab Bank and Salem Five Direct.
| Feature | Charles Schwab Bank | Salem Five Direct |
|---|---|---|
| APY | 0.15% Verified: 12/10/2025 Stable (90d) | 3.71% Verified: 12/10/2025 ↘︎ 0.30%90d Change |
| Product Name | Schwab Bank Investor Savings™ | eOne Savings |
| Minimum Deposit | $0 | $10 |
| Min. Balance for APY | $0.01 | $0.01 |
| Monthly Fee | $0 | $0 |
| Branch Access | Yes | None |
| Account Type | Online & Branches | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.8 Android2.9 | iOS4.7 Android4.2 |
| BBB Rating | A+ | A- |
| Next Steps |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Charles Schwab Bank | Salem Five Direct |
|---|---|---|
| Schwab Bank Investor Savings™ | eOne Savings | |
Current APY | 0.15% | 3.71% |
Trend | Stable | Stable |
Velocity (bps/mo) | -0.0 | -2.6 |
Days Since Change | 314 | 35 |
10-Month High | 0.15% | 4.01% |
10-Month Low | 0.15% | 3.71% |
Adjustments / Mo | 0.00 | 0.19 |
Volatility Score | 0.000 | 0.029 |
How to read these metrics(Click to expand)
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