My Banking Direct vs. Salem Five Direct
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | My Banking DirectHigh Yield Savings Account Jan 7, 2026 | Salem Five DirecteOne Savings Jan 7, 2026 |
|---|---|---|
| APY | 4.02% | 3.61% |
Est. Earnings | $5,000+$201 $10,000+$402 $25,000+$1,005 | $5,000+$181 $10,000+$361 $25,000+$903 |
Min Deposit | $500 | $10 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppZelle® Supported | 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 My Banking Direct vs. Salem Five Direct
As of My Banking Direct offers an APY of 4.02% for its High Yield Savings Account, with a minimum balance of $1, compared to Salem Five Direct's 3.61% APY for its eOne Savings account, with a minimum balance of $0.01.
My Banking Direct pays $41 more than Salem Five Direct on a $10,000 balance after one year. My Banking Direct pays $402, while Salem Five Direct pays $361 - an APY advantage for My Banking Direct.
Why My Banking Direct?
- ✓Higher potential APY (4.02% vs 3.61%) on all balances
Why Salem Five Direct?
No distinct advantages found vs My Banking Direct.
— Key Feature Differences —
Better Returns at $10,000
My Banking DirectMy Banking Direct's High Yield Savings Account earns more on smaller deposits (approx. $402 vs $361/yr).
Better Returns at $25,000
My Banking DirectMy Banking Direct's High Yield Savings Account pulls ahead with larger amounts (approx. $1005 vs $903/yr).
Best for Simplicity
My Banking DirectMy Banking Direct's High Yield Savings Account offers 4.02% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, My Banking Direct's High Yield Savings Account pays $41 more interest on a $10,000 balance than Salem Five Direct's eOne Savings.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary as of
My Banking Direct offers a High Yield Savings Account with a competitive APY of 4.02%, making it the clear winner compared to Salem Five Direct's eOne Savings account, which has a lower APY of 3.61%. My Banking Direct's account requires a minimum deposit of $500, but there are no maintenance fees or direct deposit requirements, providing a straightforward savings option. In contrast, Salem Five Direct's account has a lower minimum deposit of just $10 and also imposes no maintenance fees, but its APY is significantly lower. Both accounts are online-only and FDIC insured.
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
My Banking Direct vs. Salem Five Direct Savings Calculator
You earn $41 more with My Banking Direct than Salem Five Direct 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.
My Banking Direct
High Yield Savings Account
Savings Breakdown
- Interest Earned+$402.00(3.9%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,402.00
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 | My Banking Direct | Salem Five Direct |
|---|---|---|
| APY | 4.02% Verified: 1/7/2026 ↘︎ 0.18%90d Change | 3.61% Verified: 1/7/2026 ↘︎ 0.40%90d Change |
| Product Name | High Yield Savings Account | eOne Savings |
| Minimum Deposit | $500 | $10 |
| Min. Balance for APY | $1 | $0.01 |
| Monthly Fee | $0 | $0 |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.7 Android4.3 | iOS4.7 Android4.2 |
| Zelle® Support | Available Uses Flagstar/NYCB parent infrastructure. | Available Uses shared Salem Five mobile platform. |
| BBB Rating | F | A- |
| Next Steps | Visit SiteVerify at My Banking Direct 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 | My Banking Direct | Salem Five Direct |
|---|---|---|
| High Yield Savings Account | eOne Savings | |
Current APY | 4.02% | 3.61% |
Trend | Stable | Stable |
Velocity (bps/mo) | -4.0 | -3.3 |
Days Since Change | 53 | 21 |
11-Month High | 4.45% | 4.01% |
11-Month Low | 4.02% | 3.61% |
Adjustments / Mo | 0.43 | 0.26 |
Volatility Score | 0.035 | 0.037 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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