Salem Five Direct vs. Santander Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Salem Five DirecteOne Savings Jan 7, 2026 | Santander BankSantander Savings Jan 7, 2026 |
|---|---|---|
| APY | 3.61% | 0.01% |
Est. Earnings | $5,000+$181 $10,000+$361 $25,000+$903 | $5,000+$1 $10,000+$1 $25,000+$3 |
Min Deposit | $10 | $25 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppZelle® Supported | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppIn-Person AccessZelle® 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 Salem Five Direct vs. Santander Bank
As of Salem Five Direct offers an APY of 3.61% 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 pays $360 more than Santander Bank on a $10,000 balance after one year. Salem Five Direct pays $361, while Santander Bank pays $1 - an APY advantage for Salem Five Direct.
Why Salem Five Direct?
- ✓Higher potential APY (3.61% vs 0.01%) on all balances
- ✓No checking account or direct deposit required
Why Santander Bank?
- ✓Physical branch access (Primarily in the Northeast and Miami, Florida)
— Key Feature Differences —
Better Returns at $10,000
Salem Five DirectSalem Five Direct's eOne Savings earns more on smaller deposits (approx. $361 vs $1/yr).
Better Returns at $25,000
Salem Five DirectSalem Five Direct's eOne Savings pulls ahead with larger amounts (approx. $903 vs $3/yr).
Best for Simplicity
Salem Five DirectSalem Five Direct's eOne Savings offers 3.61% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Salem Five Direct's eOne Savings pays $360 more interest on a $10,000 balance than Santander Bank's Santander Savings.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary as of
Salem Five Direct offers a competitive eOne Savings account with an APY of 3.61%, making it significantly more attractive than Santander Bank's Santander Savings, which yields only 0.01% APY. Salem Five's account requires a minimum deposit of $10 and has no maintenance fees or direct deposit requirements, making it an appealing choice for savers looking for simplicity and higher returns. In contrast, Santander's account has a minimum deposit of $25 and incurs a $1 maintenance fee. Overall, Salem Five Direct stands out as the better option for those seeking higher interest rates.
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
Salem Five Direct vs. Santander Bank Savings Calculator
You earn $360 more with Salem Five Direct than Santander Bank 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.
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
Santander Bank
Santander Savings
Savings Breakdown
- Interest Earned+$1.00(0.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,001.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Salem Five Direct | Santander Bank |
|---|---|---|
| APY | 3.61% Verified: 1/7/2026 ↘︎ 0.40%90d Change | 0.01% Verified: 1/7/2026 Stable (90d) |
| Product Name | eOne Savings | Santander Savings |
| Minimum Deposit | $10 | $25 |
| Min. Balance for APY | $0.01 | $0 |
| Monthly Fee | $0 | $1 |
| Branch Access | None | Yes |
| Account Type | Online Only | Online & Branches |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.7 Android4.2 | iOS4.8 Android4.0 |
| Zelle® Support | Available Uses shared Salem Five mobile platform. | Available Branch-based retail accounts only. |
| BBB Rating | A- | Not Rated |
| Next Steps | Visit SiteVerify at Salem Five Direct Non-sponsored link to official site | Visit SiteVerify at Santander Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Salem Five Direct | Santander Bank |
|---|---|---|
| eOne Savings | Santander Savings | |
Current APY | 3.61% | 0.01% |
Trend | Stable | Stable |
Velocity (bps/mo) | -3.3 | -0.2 |
Days Since Change | 21 | 110 |
11-Month High | 4.01% | 0.03% |
11-Month Low | 3.61% | 0.01% |
Adjustments / Mo | 0.26 | 0.09 |
Volatility Score | 0.037 | 0.430 |
How to read these metrics(Click to expand)
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