Openbank vs. Salem Five Direct
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | OpenbankHigh-Yield Savings Account Jan 7, 2026 | Salem Five DirecteOne Savings Jan 7, 2026 |
|---|---|---|
| APY | 4.20% | 3.61% |
Est. Earnings | $5,000+$210 $10,000+$420 $25,000+$1,050 | $5,000+$181 $10,000+$361 $25,000+$903 |
Min Deposit | $500 | $10 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredLow Minimums | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppZelle® Supported |
Prefer In-Person Banking?
Both of these banks are online-only. If you need physical branch access, check out our list of high-yield accounts with brick-and-mortar locations.
Comparison Analysis
Comparing Openbank vs. Salem Five Direct
As of Openbank offers an APY of 4.20% for its High-Yield Savings Account, with a minimum balance of $0, compared to Salem Five Direct's 3.61% APY for its eOne Savings account, with a minimum balance of $0.01.
Openbank pays $59 more than Salem Five Direct on a $10,000 balance after one year. Openbank pays $420, while Salem Five Direct pays $361 - an APY advantage for Openbank.
Why Openbank?
- ✓Higher potential APY (4.20% vs 3.61%) on all balances
Why Salem Five Direct?
- ✓Higher rated iOS app (4.7 vs 3.1)
- ✓Higher rated Android app (4.2 vs 2.9)
- ✓Fast transfers via Zelle®
— Key Feature Differences —
Better Returns at $10,000
OpenbankOpenbank's High-Yield Savings Account earns more on smaller deposits (approx. $420 vs $361/yr).
Better Returns at $25,000
OpenbankOpenbank's High-Yield Savings Account pulls ahead with larger amounts (approx. $1050 vs $903/yr).
Best for Simplicity
OpenbankOpenbank's High-Yield Savings Account offers 4.20% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
Salem Five DirectSalem Five Direct offers an iOS app rated 4.7 (vs. 3.1) and Android app rated 4.2 (vs. 2.9)
Shared Benefits
Over a 1-year period, Openbank's High-Yield Savings Account pays $59 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
Openbank offers a High-Yield Savings Account with a competitive APY of 4.20%, making it the clear winner compared to Salem Five Direct's eOne Savings account, which offers a lower APY of 3.61%. Openbank's account requires a minimum deposit of $500 but has no maintenance fees or direct deposit requirements, and is available online only. In contrast, Salem Five Direct's account has a much lower minimum deposit of $10 and also features no maintenance fees, but its APY is significantly less attractive. Both accounts are FDIC insured and allow for monthly compounding.
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
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Openbank vs. Salem Five Direct Savings Calculator
You earn $59 more with Openbank 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.
Openbank
High-Yield Savings Account
Savings Breakdown
- Interest Earned+$420.00(4.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,420.00
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 | Openbank | Salem Five Direct |
|---|---|---|
| APY | 4.20% Verified: 1/7/2026 Stable (90d) | 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 | $0 | $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 | iOS3.1 Android2.9 | iOS4.7 Android4.2 |
| Zelle® Support | Not Supported | Available Uses shared Salem Five mobile platform. |
| BBB Rating | Not Rated | A- |
| Next Steps | Visit SiteVerify at Openbank 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 | Openbank | Salem Five Direct |
|---|---|---|
| High-Yield Savings Account | eOne Savings | |
Current APY | 4.20% | 3.61% |
Trend | Stable | Stable |
Velocity (bps/mo) | -2.9 | -3.9 |
Days Since Change | 169 | 21 |
10-Month High | 4.75% | 4.01% |
10-Month Low | 4.20% | 3.61% |
Adjustments / Mo | 0.29 | 0.29 |
Volatility Score | 0.026 | 0.038 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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