Salem Five Direct Comparisons

How does Salem Five Direct compare to other banks?

See how Salem Five Direct compares with the rest of the banks BankTruth has reviewed.

Salem Five Direct
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CIT Bank
Savings (Rate as of 4/25/2025)
APY 4.10%
Rate 4.10%
Min to Open $100
Min to Earn APY $5,000
Monthly Fee $0.00
Min to Avoid Fee $0
Checkbook No
Member FDIC.

Promoted offer: Get up to a $300 Cash Bonus. See site for details.
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Capital One
Savings (Rate as of 4/25/2025)
APY 3.60%
Rate 3.60%
Min to Open $0
Min to Earn APY $0
Monthly Fee $0.00
Min to Avoid Fee $0
Checkbook No
Member FDIC.

Promoted offer: It only takes about 5 minutes to open a fee-free account.
Next >
EverBank
Savings (Rate as of 4/25/2025)
APY 4.30%
Rate 4.30%
Min to Open $0
Min to Earn APY $0
Monthly Fee $0.00
Min to Avoid Fee $0
Checkbook No
Member FDIC.

Promoted offer: No monthly maintenance fee, $0 to open, easily grow your money
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Sallie Mae
MMA (Rate as of 4/25/2025)
APY 3.90%
Rate 3.83%
Min to Open $0
Min to Earn APY $0
Monthly Fee $0.00
Min to Avoid Fee $0
Checkbook Yes
Member FDIC.
Next >
Sallie Mae
Savings (Rate as of 4/25/2025)
APY 3.90%
Rate 3.83%
Min to Open $0
Min to Earn APY $0
Monthly Fee $0.00
Min to Avoid Fee $0
Checkbook No
Member FDIC.
Next >
Poppy Bank
Savings (Rate as of 4/25/2025)
APY 4.40%
Rate 4.31%
Min to Open $1,000
Min to Earn APY $1,000
Monthly Fee $5.00
Min to Avoid Fee $0
Checkbook No
Member FDIC.
Next >
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1 APY stands for Annual Percent Yield. It's different from Rate because it takes into account compounding interest for the year.

2 MMA stands for Money Market Account. It's a savings and checking hybrid, allowing you to earn interest and use checks 6 times a month.