Salem Five Direct
Last Updated: 7/1/2025
Note: Interest rates below are reported as APY, or Annual Percentage YieldQuick Views
eOne Savings: 4.01% APY(Rank 43 out of 76 tracked HYSAs)
Minimum Deposit: $10 | Online Only
National Savings Interest Rate: 0.38% (as of 6/16/2025)
Note: The FDIC tracks savings and CD rates nationally, but it does not report APY, only the average interest rate.
(Source: FDIC)Bank Overview
Location: Salem, Massachussets
Founded: 1855
Affiliation: Salem Five Direct is an online division of Salem Five Cents Savings Bank
Access to Branches: None
BBB Rating: A- (Not BBB Accredited)
App Store Rating: 4.7/5
Google Play Rating: 4.4/5
Website: Visit Salem Five Direct
Our Take on Salem Five Direct
Highlights
- eOne Savings offers a competitive APY of 4.01%
- No maintenance fees for the eOne Savings account
- High App Store rating of 4.7
- A- BBB rating indicates good trustworthiness
Considerations
- No branches available for in-person banking
- Not BBB Accredited despite A- rating
- Direct deposit is not required but may limit options
- Current APY has not changed in 30 days
Summary: Salem Five Direct offers a high-yield eOne Savings account with a 4.01% APY and no maintenance fees. While it has strong ratings on both the App Store (4.7) and Google Play (4.4), the bank lacks physical branches and is not BBB Accredited. The absence of a direct deposit requirement may limit some account options, but the APY remains stable compared to 30 days ago.
Savings Account
Savings Account Offered by Salem Five Direct
| Feature | eOne Savings |
|---|---|
| APY | 4.01% (as of 7/1/2025) |
| APY Trend | Stable for the last month |
| Minimum Deposit | $10 |
| Minimum Balance for APY | $0.01 |
| FDIC-insured | Yes |
| Online Only | Yes |
| Bundled Account | No |
| Direct Deposit Required | No |
| Compound Frequency | Monthly |
| Maintenance Fee | $0 |
| Eligibility | United States |
No deposit agreement summary available for this bank. | |
Calculate Savings for Salem Five Direct
All calculations are based on APY.
eOne Savings (APY: 4.01%)
Deposit Frequency:
Total savings breakdown:
- Interest earned: $4 (3.85%)
- Total contributions: $0 (0.00%)
- Initial deposit: $100 (96.15%)
Your total balance
$104.00
Effective APY: 4.01% (based on your deposit and contributions)
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Salem Five Direct Savings Rates Over Time
Historical APY Insights
| Metric | eOne Savings |
|---|---|
| Latest APY | 4.01 % |
| Trend | Sideways |
| Slope (bps/mo) | 0.0 |
| Rate Changes / Mo | 0.00 |
| Days Since Last Change | 160 |
| High (-5 m) | 4.01 % |
| Low (-5 m) | 4.01 % |
| Draw-down from High | 0.0 % |
| Volatility (CV) | 0.000 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 5 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 (-5 m)
- Highest APY in the last 161 days.
- Low (-5 m)
- Lowest APY in the last 161 days.
- Draw-down from High
- How far today sits below the 5-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.
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| Feature | Salem Five Direct | Select a bank... |
|---|---|---|
| Product | eOne Savings | N/A |
| APY | 4.01% (as of 7/1/2025) | N/A |
| Bundled Account | No | N/A |
| FDIC-insured | Yes | N/A |
| Online Only | Yes | N/A |
| Compound Frequency | Monthly | N/A |
| Minimum Deposit | $10 | N/A |
| Minimum Balance for APY | $0.01 | N/A |
| Maintenance Fee | $0 | N/A |
| Direct Deposit Required | No | N/A |