Discover Bank vs. Salem Five Direct
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Discover BankOnline Savings Account Jan 16, 2026 | Salem Five DirecteOne Savings Feb 21, 2026 |
|---|---|---|
| APY | 3.30% | 3.61% |
Est. Earnings | $5,000+$165 $10,000+$330 $25,000+$825 | $5,000+$181 $10,000+$361 $25,000+$903 |
Min Deposit | $0 | $10 |
Snapshot view. Rates subject to change. | ||
Terms | Discover Bank is part of Capital One and this account is not open to new customers. | - |
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® SupportedDaily CompoundingRate Changes Often | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppZelle® SupportedRate Changes Often |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.15% APY.
Comparison Analysis
Comparing Discover Bank vs. Salem Five Direct
Executive Summary
Salem Five Direct offers a competitive eOne Savings account with an APY of 3.61%, making it the standout option. This account is online-only, requires a minimum deposit of $10, and has no maintenance fees, making it accessible for savers. In contrast, Discover Bank currently has no products listed, resulting in no offerings to compare. Therefore, for those seeking a high-yield savings option, Salem Five Direct is the clear choice.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Discover Bank?
- ✓Higher rated Android app (4.8 vs 4.1)
Why Salem Five Direct?
- ✓Higher potential APY (3.61% vs 3.30%) on all balances
— Key Feature Differences —
Better Returns at $10,000
Salem Five DirectSalem Five Direct's eOne Savings earns more on smaller deposits (approx. $361 vs $330/yr).
Better Returns at $25,000
Salem Five DirectSalem Five Direct's eOne Savings pulls ahead with larger amounts (approx. $903 vs $825/yr).
Best for Simplicity
Salem Five DirectSalem Five Direct's eOne Savings offers 3.61% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
Discover BankDiscover Bank offers an iOS app rated 4.9 (vs. 4.7) and Android app rated 4.8 (vs. 4.1)
Shared Benefits
Over a 1-year period, Salem Five Direct's eOne Savings pays $31 more interest on a $10,000 balance than Discover Bank's Online Savings Account.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Discover Bank vs. Salem Five Direct Savings Calculator
You earn $31 more with Salem Five Direct than Discover Bank 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.
Discover Bank
Online Savings Account
Savings Breakdown
- Interest Earned+$330.00(3.2%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,330.00
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 $329 per year in interest.
Both Discover Bank and Salem Five Direct dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Discover Bank | Salem Five Direct |
|---|---|---|
| APY | 3.30% Verified: 1/16/2026 ↘︎ 0.10%90d Change | 3.61% Verified: 2/21/2026 ↘︎ 0.10%90d Change |
| Product Name | Online Savings Account | 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. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Available Limit: $600/dayStrict 90-day seasoning period for new accounts. | Available Uses shared Salem Five mobile platform. |
| BBB Rating | A+ | A- |
| Important Notes | Discover Bank is part of Capital One and this account is not open to new customers. | - |
| Next Steps | Visit SiteVerify at Discover 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 | Discover Bank | Salem Five Direct |
|---|---|---|
| Online Savings Account | eOne Savings | |
Current APY | 3.30% | 3.61% |
Trend | Stable | Stable |
Velocity (bps/mo) | -3.5 | -3.8 |
Days Since Change | 8 | 30 |
12-Month High | 3.75% | 4.01% |
12-Month Low | 3.30% | 3.61% |
Adjustments / Mo | 0.42 | 0.25 |
Volatility Score | 0.037 | 0.045 |
How to read these metrics(Click to expand)
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More Comparisons
Compare Discover Bank's APY of 3.30% 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 Axos Bank | 4.21% | $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 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 |