Newtek Bank vs. Salem Five Direct
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: November 14, 2025
We earn a commission if you open an account through some links on this page.
Summary of Newtek Bank vs. Salem Five Direct
Key Metrics at a Glance
| Feature | Newtek Bank | Salem Five Direct |
|---|---|---|
| Top Savings APY | 4.35% Personal High Yield Savings | 3.71% eOne Savings |
| Minimum to Open | $0.01 | $10 |
| Minimum Balance for Top APY | $0.01 | $0.01 |
Newtek Bank
Strengths
- Newtek Bank offers a higher APY of 4.35% compared to Salem Five Direct's 3.71%.
- Newtek Bank has an A+ BBB rating and is BBB Accredited.
- Newtek Bank has no maintenance fees for its high-yield savings account.
Potential Drawbacks
- Newtek Bank has no physical branches available for customers.
- Newtek Bank's App Store rating is lower than Salem Five Direct's.
Salem Five Direct
Strengths
- Salem Five Direct has a higher App Store rating of 4.7 compared to Newtek Bank's 4.5.
- Salem Five Direct also has no maintenance fees 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 has an A- BBB rating and is not BBB Accredited.
→ As of November 14, 2025 Newtek Bank offers an APY of 4.35% for its Personal High Yield Savings account, with a minimum balance of $0.01, compared to Salem Five Direct's 3.71% APY for its eOne Savings account, with a minimum balance of $0.01.
→ Newtek Bank yields $64 more than Salem Five Direct on a $10,000 balance after one year. Newtek Bank pays $435, while Salem Five Direct pays $371 - an APY advantage for Newtek Bank.
Calculate Savings Growth for Newtek Bank vs Salem Five Direct
Newtek Bank - Personal High Yield Savings
Total savings breakdown:
- Interest earned: $2,662 (12.88%)
- Total contributions: $13,000 (62.92%)
- Initial deposit: $5,000 (24.20%)
Your total balance
$20,662.00
Total balance: $20,662
Earnings: $2,662
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, Newtek Bank's total earnings would be $413.9 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 Newtek Bank's vs Salem Five Direct's Savings Accounts
| Newtek Bank | Salem Five Direct | ||
|---|---|---|---|
| Product | Personal High Yield Savings | vs | eOne Savings |
| APY | 4.35% (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 | $0.01 | $10 | |
| Minimum Balance for APY | $0.01 | $0.01 | |
| Maintenance Fee | $0 | $0 | |
| Direct Deposit Required | No | No | |
| App Store Rating | 4.5/5 | 4.7/5 | |
| Google Play Rating | 4.2/5 | 4.2/5 | |
| BBB Rating | A+ | A- |
Comparative Historical APY Insights (Last 10 Months)
| Newtek Bank | Salem Five Direct | ||
|---|---|---|---|
| Product | Personal High Yield Savings | vs | eOne Savings |
| Latest APY | 4.35 % | 3.71 % | |
| Trend | Sideways | Sideways | |
| Slope (bps/mo) | -1.6 | -1.6 | |
| Rate Changes / Mo | 0.20 | 0.20 | |
| Days Since Last Change | 217 | 9 | |
| High (-10 m) | 4.55 % | 4.01 % | |
| Low (-10 m) | 4.35 % | 3.71 % | |
| Draw-down from High | -4.4 % | -7.5 % | |
| Volatility (CV) | 0.014 | 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.