Openbank vs. Salem Five Direct
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: November 14, 2025
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Summary of Openbank vs. Salem Five Direct
Key Metrics at a Glance
| Feature | Openbank | Salem Five Direct |
|---|---|---|
| Top Savings APY | 4.20% High-Yield Savings Account | 3.71% eOne Savings |
| Minimum to Open | $500 | $10 |
| Minimum Balance for Top APY | $0 | $0.01 |
Openbank
Strengths
- Openbank offers a competitive APY of 4.20%, unchanged from 30 days ago.
- No maintenance fees for the High-Yield Savings Account.
- No minimum balance requirement for the High-Yield Savings Account.
Potential Drawbacks
- Openbank has a low App Store rating of 3.2.
- Openbank is not rated by the BBB and is not accredited.
- Openbank requires a minimum deposit of $500 to open the account.
Salem Five Direct
Strengths
- Salem Five Direct has a strong App Store rating of 4.7.
- Salem Five Direct has a BBB rating of A-, indicating good trustworthiness.
- Salem Five Direct requires only a $10 minimum deposit to open the account.
Potential Drawbacks
- Salem Five Direct's current APY is lower at 3.71%, down from 4.01% last month.
- Salem Five Direct has a Google Play rating of 4.2, lower than Openbank's.
- Salem Five Direct also has no branches available.
→ As of November 14, 2025 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 3.71% APY for its eOne Savings account, with a minimum balance of $0.01.
→ Openbank yields $49 more than Salem Five Direct on a $10,000 balance after one year. Openbank pays $420, while Salem Five Direct pays $371 - an APY advantage for Openbank.
Calculate Savings Growth for Openbank vs Salem Five Direct
Openbank - High-Yield Savings Account
Total savings breakdown:
- Interest earned: $2,564.3 (12.47%)
- Total contributions: $13,000 (63.22%)
- Initial deposit: $5,000 (24.31%)
Your total balance
$20,564.30
Total balance: $20,564.3
Earnings: $2,564.3
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, Openbank's total earnings would be $316.2 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 Openbank's vs Salem Five Direct's Savings Accounts
| Openbank | Salem Five Direct | ||
|---|---|---|---|
| Product | High-Yield Savings Account | vs | eOne Savings |
| APY | 4.20% (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 | Monthly | Monthly | |
| Minimum Deposit | $500 | $10 | |
| Minimum Balance for APY | $0 | $0.01 | |
| Maintenance Fee | $0 | $0 | |
| Direct Deposit Required | No | No | |
| App Store Rating | 3.2/5 | 4.7/5 | |
| Google Play Rating | 3.2/5 | 4.2/5 | |
| BBB Rating | Not Rated | A- |
Comparative Historical APY Insights (Last 9 Months)
| Openbank | Salem Five Direct | ||
|---|---|---|---|
| Product | High-Yield Savings Account | vs | eOne Savings |
| Latest APY | 4.20 % | 3.71 % | |
| Trend | Sideways | Sideways | |
| Slope (bps/mo) | -3.9 | -2.0 | |
| Rate Changes / Mo | 0.34 | 0.23 | |
| Days Since Last Change | 115 | 9 | |
| High (-9 m) | 4.75 % | 4.01 % | |
| Low (-9 m) | 4.20 % | 3.71 % | |
| Draw-down from High | -11.6 % | -7.5 % | |
| Volatility (CV) | 0.028 | 0.022 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 9 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 (-9 m)
- Highest APY in the last 262 days.
- Low (-9 m)
- Lowest APY in the last 262 days.
- Draw-down from High
- How far today sits below the 9-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.