Chime vs. Salem Five Direct
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | ChimeChime High-Yield Savings Account Jan 7, 2026 | Salem Five DirecteOne Savings Jan 7, 2026 |
|---|---|---|
| APY | 1.00% - 3.50% | 3.61% |
Est. Earnings | $5,000+$175 $10,000+$350 $25,000+$875 | $5,000+$181 $10,000+$361 $25,000+$903 |
Min Deposit | $0 | $10 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppDirect Deposit ReqChecking Bundle | 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 Chime vs. Salem Five Direct
As of Chime offers an APY of 3.50% for its Chime High-Yield Savings Account, with a minimum balance of $0.01, compared to Salem Five Direct's 3.61% APY for its eOne Savings account, with a minimum balance of $0.01.
Salem Five Direct pays $11 more than Chime on a $10,000 balance after one year. Chime pays $350, while Salem Five Direct pays $361 - an APY advantage for Salem Five Direct.
Why Chime?
- ✓Higher rated Android app (4.8 vs 4.2)
Why Salem Five Direct?
- ✓Higher potential APY (3.61% vs 3.50%) on all balances
- ✓No checking account or direct deposit required
- ✓Fast transfers via Zelle®
— Key Feature Differences —
Better Returns at $10,000
Salem Five DirectSalem Five Direct's eOne Savings earns more on smaller deposits (approx. $361 vs $350/yr).
Better Returns at $25,000
Salem Five DirectSalem Five Direct's eOne Savings pulls ahead with larger amounts (approx. $903 vs $875/yr).
Best for Simplicity
Salem Five DirectSalem Five Direct's eOne Savings offers 3.61% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Salem Five Direct's eOne Savings pays $11 more interest on a $10,000 balance than Chime's Chime High-Yield Savings Account.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary as of
Salem Five Direct's eOne Savings account offers a competitive APY of 3.61%, making it the standout option compared to Chime's High-Yield Savings Account, which has an APY of 3.50%. While both accounts have no maintenance fees and require a minimum balance of only $0.01, Chime requires a qualifying direct deposit of $200 or more within the preceding 34 days, whereas Salem Five does not have such a requirement. Additionally, Salem Five’s account is noted for simplicity, with no bundling or caps, making it an attractive choice for savers. Both accounts are online-only.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Chime vs. Salem Five Direct Savings Calculator
You earn $11 more with Salem Five Direct than Chime 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.
Chime
Chime High-Yield Savings Account
Savings Breakdown
- Interest Earned+$350.00(3.4%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,350.00
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 | Chime | Salem Five Direct |
|---|---|---|
| APY | 3.50% Range: 1.00% - 3.50% Verified: 1/7/2026 ↘︎ 0.25%90d Change | 3.61% Verified: 1/7/2026 ↘︎ 0.40%90d Change |
| Product Name | Chime High-Yield Savings Account | eOne Savings |
| Minimum Deposit | $0 | $10 |
| Min. Balance for APY | $0.01 | $0.01 |
| Monthly Fee | $0 | $0 |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Direct Deposit Req. | RequiredYou need to receive a qualifying direct deposit of $200 or more within the preceding 34 days | None |
| Checking Bundle | Yes | No |
| Mobile Apps | iOS4.8 Android4.8 | iOS4.7 Android4.2 |
| Zelle® Support | Not Supported | Available Uses shared Salem Five mobile platform. |
| BBB Rating | A+ | A- |
| Next Steps | Visit SiteVerify at Chime 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 | Chime | Salem Five Direct |
|---|---|---|
| Chime High-Yield Savings Account | eOne Savings | |
Current APY | 3.50% | 3.61% |
Trend | Stable | Stable |
Velocity (bps/mo) | 9.5 | -3.4 |
Days Since Change | 83 | 21 |
11-Month High | 3.75% | 4.01% |
11-Month Low | 2.00% | 3.61% |
Adjustments / Mo | 0.18 | 0.26 |
Volatility Score | 0.180 | 0.038 |
How to read these metrics(Click to expand)
Compare Similar Alternatives
Compare Chime vs...
Comparing against other Bundled Accounts
Compare Salem Five Direct vs...
Comparing against Standard Savings