Ivy Bank vs. Salem Five Direct
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: November 14, 2025
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Summary of Ivy Bank vs. Salem Five Direct
Key Metrics at a Glance
| Feature | Ivy Bank | Salem Five Direct |
|---|---|---|
| Top Savings APY | 4.25% High-Yield Savings Account | 3.71% eOne Savings |
| Minimum to Open | $2,500 | $10 |
| Minimum Balance for Top APY | $2,500 | $0.01 |
Ivy Bank
Strengths
- Ivy Bank offers a higher APY of 4.25% compared to Salem Five Direct's 3.71%.
- Ivy Bank has no minimum balance requirement for its High-Yield Savings Account.
- Ivy Bank has a maintenance fee of $0.
Potential Drawbacks
- Ivy Bank requires a minimum deposit of $2,500 to open an account.
- Ivy Bank has a lower Google Play rating of 3.5 compared to Salem Five Direct's 4.2.
- Ivy Bank is not BBB Accredited.
Salem Five Direct
Strengths
- Salem Five Direct has a very low minimum deposit of $10.
- Salem Five Direct has a higher Google Play rating of 4.2.
- Salem Five Direct has no minimum balance requirement for its eOne Savings account.
Potential Drawbacks
- Salem Five Direct's APY decreased from 4.01% to 3.71% in the last 30 days.
- Salem Five Direct requires a minimum balance of $0.01.
- Salem Five Direct is not BBB Accredited.
→ As of November 14, 2025 Ivy Bank offers an APY of 4.25% for its High-Yield Savings Account, with a minimum balance of $2,500, compared to Salem Five Direct's 3.71% APY for its eOne Savings account, with a minimum balance of $0.01.
→ Ivy Bank yields $54 more than Salem Five Direct on a $10,000 balance after one year. Ivy Bank pays $425, while Salem Five Direct pays $371 - an APY advantage for Ivy Bank.
Calculate Savings Growth for Ivy Bank vs Salem Five Direct
Ivy Bank - High-Yield Savings Account
Total savings breakdown:
- Interest earned: $2,596.8 (12.61%)
- Total contributions: $13,000 (63.12%)
- Initial deposit: $5,000 (24.28%)
Your total balance
$20,596.80
Total balance: $20,596.8
Earnings: $2,596.8
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, Ivy Bank's total earnings would be $348.7 higher than Salem Five Direct's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare Ivy Bank's vs Salem Five Direct's Savings Accounts
| Ivy Bank | Salem Five Direct | ||
|---|---|---|---|
| Product | High-Yield Savings Account | vs | eOne Savings |
| APY | 0.05% - 4.25% (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 | $2,500 | $10 | |
| Minimum Balance for APY | $2,500 | $0.01 | |
| Maintenance Fee | $0 | $0 | |
| Direct Deposit Required | No | No | |
| Eligibility | Residents of California and U.S. Territories (except District of Columbia) are ineligible to apply. | United States | |
| App Store Rating | 4.7/5 | 4.7/5 | |
| Google Play Rating | 3.5/5 | 4.2/5 | |
| BBB Rating | A- | A- |
No historical data available.