Salem Five Direct vs. Santander Bank
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: November 14, 2025
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Summary of Salem Five Direct vs. Santander Bank
Key Metrics at a Glance
| Feature | Salem Five Direct | Santander Bank |
|---|---|---|
| Top Savings APY | 3.71% eOne Savings | 0.01% Santander Savings |
| Minimum to Open | $10 | $25 |
| Minimum Balance for Top APY | $0.01 | $0 |
Salem Five Direct
Strengths
- Salem Five Direct offers a competitive APY of 3.71%, though it decreased from 4.01% in the last 30 days.
- Salem Five Direct has no maintenance fees, making it cost-effective for savers.
- Salem Five Direct has a high App Store rating of 4.7.
Potential Drawbacks
- Salem Five Direct has no physical branches, limiting in-person banking options.
- Salem Five Direct is not BBB Accredited, which may affect trust for some customers.
- Salem Five Direct requires a minimum deposit of only $10, which may be seen as a drawback.
Santander Bank
Strengths
- Santander Bank has physical branches primarily in the Northeast and Miami, providing in-person service.
- Santander Bank's App Store rating is slightly higher at 4.8.
Potential Drawbacks
- Santander Bank offers a low APY of 0.01%, unchanged from 30 days ago.
- Santander Bank charges a $1 maintenance fee, which can reduce savings over time.
- Santander Bank is not BBB Rated, which may raise concerns for potential customers.
→ As of November 14, 2025 Salem Five Direct offers an APY of 3.71% for its eOne Savings account, with a minimum balance of $0.01, compared to Santander Bank's 0.01% APY for its Santander Savings account, with a minimum balance of $0.
→ Salem Five Direct yields $370 more than Santander Bank on a $10,000 balance after one year. Salem Five Direct pays $371, while Santander Bank pays $1 - an APY advantage for Salem Five Direct.
Calculate Savings Growth for Salem Five Direct vs Santander Bank
Salem 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 OverviewSantander Bank - Santander Savings
Total savings breakdown:
- Interest earned: $5.7 (0.03%)
- Total contributions: $13,000 (72.20%)
- Initial deposit: $5,000 (27.77%)
Your total balance
$18,005.70
Total balance: $18,005.7
Earnings: $5.7
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, Salem Five Direct's total earnings would be $2,242.4 higher than Santander Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare Salem Five Direct's vs Santander Bank's Savings Accounts
| Salem Five Direct | Santander Bank | ||
|---|---|---|---|
| Product | eOne Savings | vs | Santander Savings |
| APY | 3.71% (as of 11/14/2025) | 0.01% (as of 11/14/2025) | |
| Bundled Account | No | No | |
| FDIC-insured | Yes | Yes | |
| Online Only | Yes | No | |
| Compound Frequency | Monthly | Daily | |
| Minimum Deposit | $10 | $25 | |
| Minimum Balance for APY | $0.01 | $0 | |
| Maintenance Fee | $0 | $1 | |
| Direct Deposit Required | No | No | |
| App Store Rating | 4.7/5 | 4.8/5 | |
| Google Play Rating | 4.2/5 | 4.1/5 | |
| BBB Rating | A- | Not Rated |
Comparative Historical APY Insights (Last 10 Months)
| Salem Five Direct | Santander Bank | ||
|---|---|---|---|
| Product | eOne Savings | vs | Santander Savings |
| Latest APY | 3.71 % | 0.01 % | |
| Trend | Sideways | Sideways | |
| Slope (bps/mo) | -1.6 | -0.2 | |
| Rate Changes / Mo | 0.20 | 0.10 | |
| Days Since Last Change | 9 | 56 | |
| High (-10 m) | 4.01 % | 0.03 % | |
| Low (-10 m) | 3.71 % | 0.01 % | |
| Draw-down from High | -7.5 % | -66.7 % | |
| Volatility (CV) | 0.020 | 0.320 |
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.