Salem Five Direct

Deposit Rates APY Vs.Others
Savings 1.85% 2.20% →
1-Year CD 1.50% 2.20% →
2-Year CD N.A. 2.20% →
3-Year CD 1.90% 2.31% →
4-Year CD N.A. 2.40% →
5-Year CD N.A. 2.60% →

2020 Overview

General Online Bank Information

Money that you deposit is held by Salem Five Cents Savings Bank. Salem Five Cents Savings Bank is an FDIC insured institution founded in 1855. It has approximately $5.24 billion in assets.

Deposits FDIC Insured Yes
Insured Bank Salem Five Cents Savings Bank
FDIC Certificate # 23296
Date Established 1855
Assets $5.24 billion
Loans $4.06 billion
Deposits $4 billion
Capital $0.55 billion

For a more detailed analysis of Salem Five Cents Savings Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - February 24, 2020

Online Savings and Money Market Rates
Online Savings and Money Market Rates APY MIN MAX
Online CD Rates
Online CD Rates APY MIN MAX
12 Month eCD Special
1.50% $10,000 - Learn MoreShow Less
18 Month CD eCD Special
2.00% $10,000 - Learn MoreShow Less
36 Month eCD Special
1.90% $10,000 - Learn MoreShow Less



Customer Reviews for Salem Five Direct


  • February 08, 2020 |

    Online Savings Rates

    This bank charges you fees every time you transfer money. In addition, the bank advertises a high rate to attract customers, but once you invest with them, your rate is lowered, even though they continue to offer the high rate to others. If you call them, they will raise your rate back to the advertised rate, but a few months later, they lower your rate again, while continuing to offer a higher rate in their advertisements.

  • January 16, 2020 |

    Online Savings Rates

    This is just an awful terrible bank that has a history of cheating customers out of their hard earned cash through $3 external transfer fees, overdraft fees, changing their rates without disclosing the change, etc. Stick with a better known name. Or, even a lesser known name. Just stick with another name another name.

  • February 04, 2016

    be careful if you already have an account with these guys - the 1.1 rate is only for new money

Add Your Review

Rate it here →