Salem Five Direct vs. Synchrony Bank
Comparing Salem Five Direct and Synchrony Bank for high-yield savings: Salem Five Direct's eOne Savings pays 3.61% APY while Synchrony Bank's High Yield Savings pays 3.50% APY.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? Salem Five Direct pays $11 more than Synchrony Bank annually ($361 vs $350).
Choose Salem Five Direct if getting the best rate matters most, or you want Zelle for quick transfers.
| Metric | Salem Five DirecteOne Savings Feb 21, 2026 | Synchrony BankHigh Yield Savings Feb 21, 2026 |
|---|---|---|
| APY | 3.61% | 3.50% |
Est. Earnings | $5,000+$181 $10,000+$361 $25,000+$903 | $5,000+$175 $10,000+$350 $25,000+$875 |
Min Deposit | $10 | $0 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppZelle® SupportedRate Changes Often | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppDaily CompoundingRate Changes Often |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.15% APY.
Comparison Analysis
Comparing Salem Five Direct vs. Synchrony Bank
Executive Summary
Salem Five Direct offers a competitive eOne Savings account with an APY of 3.61%, making it the standout option compared to Synchrony Bank's High Yield Savings account, which has an APY of 3.50%. Both accounts are online-only and have no maintenance fees, but Salem Five Direct's account provides better returns, especially for larger deposits. Additionally, both accounts do not require direct deposit and have low minimum deposit requirements, with Salem Five Direct starting at $10 and Synchrony Bank at $0.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Salem Five Direct?
- ✓Higher potential APY (3.61% vs 3.50%) on all balances
- ✓Fast transfers via Zelle®
Why Synchrony Bank?
- ✓Higher rated Android app (4.5 vs 4.1)
— Key Feature Differences —
Better Returns at $10,000
Salem Five DirectSalem Five Direct's eOne Savings earns more on smaller deposits (approx. $361 vs $350/yr).
Better Returns at $25,000
Salem Five DirectSalem Five Direct's eOne Savings pulls ahead with larger amounts (approx. $903 vs $875/yr).
Shared Benefits
Over a 1-year period, Salem Five Direct's eOne Savings pays $11 more interest on a $10,000 balance than Synchrony Bank's High Yield Savings.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Salem Five Direct vs. Synchrony Bank Savings Calculator
You earn $11 more with Salem Five Direct than Synchrony 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
Synchrony Bank
High Yield Savings
Savings Breakdown
- Interest Earned+$350.00(3.4%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,350.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Still banking with Chase, Bank of America, or Wells Fargo?
On a $10,000 balance, you're missing out on at least $349 per year in interest.
Both Salem Five Direct and Synchrony Bank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Salem Five Direct | Synchrony Bank |
|---|---|---|
| APY | 3.61% Verified: 2/21/2026 ↘︎ 0.10%90d Change | 3.50% Verified: 2/21/2026 ↘︎ 0.15%90d Change |
| Product Name | eOne Savings | High Yield Savings |
| Minimum Deposit | $10 | $0 |
| Min. Balance for APY | $0.01 | $0 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Monthly | Daily |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Physical Branches | None | N/A |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Available Uses shared Salem Five mobile platform. | Not Supported |
| BBB Rating | A- | Not Rated |
| Next Steps | Visit SiteVerify at Salem Five Direct Non-sponsored link to official site | Visit SiteVerify at Synchrony Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Salem Five Direct | Synchrony Bank |
|---|---|---|
| eOne Savings | High Yield Savings | |
Current APY | 3.61% | 3.50% |
Trend | Stable | Stable |
Velocity (bps/mo) | -4.2 | -3.9 |
Days Since Change | 66 | 25 |
12-Month High | 4.01% | 4.00% |
12-Month Low | 3.61% | 3.50% |
Adjustments / Mo | 0.25 | 0.25 |
Volatility Score | 0.045 | 0.040 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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More Comparisons
Compare Salem Five Direct's APY of 3.61% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Salem Five Direct vs Ally Bank | 3.20% | $0 |
| Salem Five Direct vs American Express | 3.30% | $0 |
| Salem Five Direct vs Axos Bank | 4.21% | $0 |
| Salem Five Direct vs Bank of America | 0.01% | $100 |
| Salem Five Direct vs Barclays | 3.85% | $0 |
| Salem Five Direct vs Capital One | 3.30% | $0 |
| Salem Five Direct vs Chase Bank | 0.01% | $0 |
| Salem Five Direct vs Chime | 3.00% | $0 |
| Salem Five Direct vs CIT Bank | 3.75% | $100 |
| Salem Five Direct vs Citibank | 3.20% | $0 |
| Salem Five Direct vs Discover Bank | 3.30% | $0 |
| Salem Five Direct vs EverBank | 3.90% | $0 |
| Salem Five Direct vs Marcus by Goldman Sachs | 3.65% | $0 |
| Salem Five Direct vs Newtek Bank | 4.20% | $0.01 |
| Salem Five Direct vs Openbank | 4.09% | $500 |
| Salem Five Direct vs Pibank | 4.60% | $0 |
| Salem Five Direct vs SoFi Bank | 4.00% | $0 |
| Salem Five Direct vs Varo Bank | 5.00% | $0 |
| Salem Five Direct vs Wealthfront | 3.95% | $0 |
| Salem Five Direct vs Wells Fargo | 0.05% | $25 |