Discover Bank vs. Salem Five Direct
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: November 14, 2025
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Summary of Discover Bank vs. Salem Five Direct
Key Metrics at a Glance
| Feature | Discover Bank | Salem Five Direct |
|---|---|---|
| Top Savings APY | 3.40% Online Savings Account | 3.71% eOne Savings |
| Minimum to Open | $0 | $10 |
| Minimum Balance for Top APY | $0 | $0.01 |
Discover Bank
Strengths
- Discover Bank offers an APY of 3.40%, stable over the past 30 days.
- Discover Bank has a higher BBB rating of A+ and is BBB Accredited.
- Discover Bank's App Store rating is higher at 4.9.
Potential Drawbacks
- Discover Bank has no physical branches.
- Discover Bank does not offer a higher APY than competitors.
Salem Five Direct
Strengths
- Salem Five Direct offers a higher APY of 3.71%, though it decreased from 4.01%.
- Salem Five Direct has a lower minimum deposit requirement of $10.
Potential Drawbacks
- Salem Five Direct has a lower BBB rating of A- and is not BBB Accredited.
- Salem Five Direct's Google Play rating is lower at 4.2.
→ As of November 14, 2025 Discover Bank offers an APY of 3.40% for its Online Savings Account, with a minimum balance of $0, 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 $31 more than Discover Bank on a $10,000 balance after one year. Discover Bank pays $340, while Salem Five Direct pays $371 - an APY advantage for Salem Five Direct.
Calculate Savings Growth for Discover Bank vs Salem Five Direct
Discover Bank - Online Savings Account
Total savings breakdown:
- Interest earned: $2,050.5 (10.23%)
- Total contributions: $13,000 (64.84%)
- Initial deposit: $5,000 (24.94%)
Your total balance
$20,050.50
Total balance: $20,050.5
Earnings: $2,050.5
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, Discover Bank's total earnings would be $197.6 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 Discover Bank's vs Salem Five Direct's Savings Accounts
| Discover Bank | Salem Five Direct | ||
|---|---|---|---|
| Product | Online Savings Account | vs | eOne Savings |
| APY | 3.40% (as of 11/14/2025) | 3.71% (as of 11/14/2025) | |
| Bundled Account | No | No | |
| FDIC-insured | Yes | Yes | |
| Online Only | Yes | Yes | |
| Compound Frequency | Daily | Monthly | |
| Minimum Deposit | $0 | $10 | |
| Minimum Balance for APY | $0 | $0.01 | |
| Maintenance Fee | $0 | $0 | |
| Direct Deposit Required | No | No | |
| App Store Rating | 4.9/5 | 4.7/5 | |
| Google Play Rating | 4.9/5 | 4.2/5 | |
| BBB Rating | A+ | A- |
Comparative Historical APY Insights (Last 10 Months)
| Discover Bank | Salem Five Direct | ||
|---|---|---|---|
| Product | Online Savings Account | vs | eOne Savings |
| Latest APY | 3.40 % | 3.71 % | |
| Trend | Sideways | Sideways | |
| Slope (bps/mo) | -3.9 | -1.6 | |
| Rate Changes / Mo | 0.40 | 0.20 | |
| Days Since Last Change | 46 | 9 | |
| High (-10 m) | 3.75 % | 4.01 % | |
| Low (-10 m) | 3.40 % | 3.71 % | |
| Draw-down from High | -9.3 % | -7.5 % | |
| Volatility (CV) | 0.033 | 0.020 |
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 297 days.
- Low (-10 m)
- Lowest APY in the last 297 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.