Salem Five Direct savings and CD rates
Salem Five Direct advertises 3.66% APY on its eOne Savings account. That is 3.29 percentage points above the national savings average of 0.37% (FDIC, Sep 2026).
Ranked #120 of 2767 tracked savings rates by advertised APY. For a $10,000 balance it would rank #79. It was #66 three months ago. The bank has cut this rate once in the last 12 months.
Salem Five Direct at a glance
| Savings | |
|---|---|
| Top savings APY | 3.66% · eOne Savings |
| Minimum to open | $10 · eOne Savings |
| Against the national average | 3.29 percentage points above the 0.37% FDIC savings average (Sep 2026) |
| CDs | |
| Top CD APY | 4.30% · 18 months · 18-Month Special CD |
| Minimum to open | $10,000 · 18 months CD |
| FDIC certificate | 23296 · Salem, MA |
|---|---|
| Website | www.salemfivedirect.com |
| Availability | Nationally available |
Salem Five Direct savings and CD rates
Rates are APY. The national savings average is 0.37% (FDIC, Sep 2026). The top tracked savings rate on Banksparency is 5.50%. Across 60 savings accounts from 59 banks in the Banksparency core savings index, the median advertised rate is 3.66%, and one account in ten advertises 4.16% or more. See the highest savings rates.
Salem Five Direct CD rates
| Term | APY | Minimum | Product |
|---|---|---|---|
| 12 months | 4.00% | $10,000 | 12-Month Special CD |
| 15 months | 4.25% | $10,000 | 15-Month Special CD |
| 18 months | 4.30% | $10,000 | 18-Month Special CD |
| 24 months | 3.50% | $10,000 | 24-Month Special CD |
| 30 months | 2.00% | $10,000 | 30-Month Special CD |
| 36 months | 2.00% | $10,000 | 36-Month Special CD |
| 48 months | 2.25% | $10,000 | 48-Month Special CD |
| 60 months | 2.25% | $10,000 | 60-Month Special CD |
Interactive Tool
Calculate Savings for Salem Five Direct
All calculations are based on APY.
Savings Breakdown
- Interest Earned+$1,428.60(9.3%)
- Total Contributions$13,000
- Initial Deposit$1,000
Projected Balance
$15,428.60
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
What Salem Five Direct pays on deposits
FDIC call report data
An advertised rate tells you what a new savings account earns today. It cannot tell you how the bank has priced the savings and money market deposits it already holds, over time. This section shows that. The figure is computed from the interest expense and deposit balances that every bank files with the FDIC in the same form. That is what makes it comparable across banks and across quarters.
The two figures answer different questions, so they sit side by side and are not combined.
In Q2 2026, Salem Five Cents SB paid a higher average rate on savings and money market deposits than 90% of banks that reported a figure (FDIC call report). The all-bank median was 1.45%.
- Salem Five Cents SB, savings and money market
- All-bank median
How to read these figures
What the average covers. It is an average across the whole bank, taken from its own quarterly FDIC call report. It covers savings accounts and money market deposit accounts, personal and business, at every balance tier. It also covers accounts that were opened years ago and keep the rate of those years. The FDIC line does not separate consumer accounts.
The second figure. The scale row also shows the average across all interest-bearing deposits: savings, interest checking, money market accounts, CDs, personal and business. That figure covers the whole deposit book. The two are shown separately and are not combined.
What the advertised rate covers. It is the rate that this bank advertises now for a new savings account. Banksparency records it from the bank's website on the date shown beside it.
Why the two differ. They measure different things, so this page shows them side by side and keeps them apart. An advertised rate applies to one account, opened now, at today's price. The average also includes older savings balances at the rates of earlier years, money market balances that were priced in a different rate environment, and business accounts. An average below an advertised rate is the usual result of that arithmetic. On its own it is not evidence about the account that you would open.
What the average is useful for. The bank files the data itself, under reporting instructions that are the same for every filer, and the same computation runs for every bank on this site. That makes it comparable in a way that an advertisement is not. Two things on this page read it: the percentile, which shows where the quarter sits among all filers, and the chart, which shows the direction the figure has moved across quarters.
What the average cannot tell you. It cannot tell you the rate that you would earn. No single customer earns the average. For your rate, read the advertised rate above and the rate tables on this page, each with the date it was observed.
What to do next. Use the advertised rate to work out what a new account earns. Use the chart to see how the quarterly average has moved against the all-bank median. Then compare the advertised rate against the current rates on the savings-rate tables before you open an account.
Definitions: Call Report · Rate Paid on Deposits · Interest-Bearing Deposits · Front Book and Back Book · Deposit Rate Percentile
Average annualized rates paid on savings and money market deposits, and on all interest-bearing deposits, quarterly. The FDIC line for savings includes money market deposit accounts and business savings deposits and does not separate consumer accounts. Source: FDIC call report data, as reported; it may be amended. The percentile compares all FDIC filers, count-weighted. A missing quarter is suppressed, never interpolated. The percentile counts the banks that paid strictly less on savings and money market deposits, one vote per bank, among the banks that reported a figure for the quarter.
So what is the catch?
| Product | APY | Min to open | Min to earn | Balance cap | Monthly fee | Requirements | Rate type | 12-mo trend |
|---|---|---|---|---|---|---|---|---|
| eOne Savings | 3.66% | $10 | $0 | None | $0 | None | One rate |
Rate type: one rate applies at every balance. A tiered rate changes with your balance. A promotional rate changes after the period shown. A balance cap is the largest balance the highest rate applies to.
The 12-month trend shows the highest advertised rate observed each day and includes promotional tiers where one applied.
CDs
| Product | Term | APY | Min to open | Early withdrawal fee | Compounding |
|---|---|---|---|---|---|
| 12-Month Special CD | 12 months | 4.00% | $10,000 | not stated | not stated |
| 15-Month Special CD | 15 months | 4.25% | $10,000 | not stated | not stated |
| 18-Month Special CD | 18 months | 4.30% | $10,000 | not stated | not stated |
| 24-Month Special CD | 24 months | 3.50% | $10,000 | not stated | not stated |
| 30-Month Special CD | 30 months | 2.00% | $10,000 | not stated | not stated |
| 36-Month Special CD | 36 months | 2.00% | $10,000 | not stated | not stated |
| 48-Month Special CD | 48 months | 2.25% | $10,000 | not stated | not stated |
| 60-Month Special CD | 60 months | 2.25% | $10,000 | not stated | not stated |
Opening and using the account
| Availability | Nationally available |
|---|---|
| App Store rating | 4.7 out of 5 |
| Google Play rating | 4.2 out of 5 |
| Zelle | Available |
| Eligibility | not stated |
How Salem Five Direct behaves over time
- 12-month high
- 4.01%
- 12-month low
- 3.51%
- Advertised now
- 3.66%
- 0.35 percentage points below the 12-month high
- Observed cuts, 12 months
- 1
- In a window with 2 Federal Reserve cuts
The advertised eOne Savings rate, observed through Oct 3, 2026. The series includes promotional tiers where one applied.
Recent rate changes, as observed
- Obs. Sep 29, 2026eOne SavingsRaise:3.51%to3.66%
- Obs. Mar 12, 2026eOne SavingsCut:3.61%to3.51%
- eOne Savings
- Up 0.15 percentage points from 7 days ago.
- 18 months CD
- Up 0.30 percentage points from 30 days ago.
At the top advertised rates we observed for Salem Five Direct's eOne Savings, $10,000 would have grown to about $10,358 over the past year. Prices rose 3.4% in the year to August 2026 (Consumer Price Index (CPI)). So it buys as much as $10,018 did a year ago. The series includes promotional tiers where one applied. See how the federal funds rate shapes savings rates.
- eOne Savings APY
- Banksparency savings index
- Consumer price index, year over year
- Fed rate cut
Salem Five Direct CD rates over time
Who is Salem Five Direct?
| Headquarters | Salem, MA |
|---|---|
| Founded | 1855 |
| Scale | $8.8B assets · $6.0B deposits, $5.0B of it interest-bearing (Q2 2026, FDIC) |
| Deposit insurance | FDIC insured · Certificate 23296 |
| BBB rating | A+ · Not BBB Accredited |
| Affiliation | Salem Five Direct is an online division of Salem Five Cents Savings Bank |
| Affiliated institution | Salem Five Cents Savings Bank |
| Charter state | Massachusetts · the charter, Salem Five Cents Savings Bank, is one of 91 insured banks chartered there (Q2 2026, FDIC) |
Financial detail is in What Salem Five Direct pays on deposits above.
Common questions about Salem Five Direct
Is Salem Five Direct FDIC insured?
Yes. Salem Five Direct is FDIC insured under certificate 23296, so deposits are covered up to $250,000 per depositor, per ownership category.
What is the minimum deposit at Salem Five Direct?
Salem Five Direct requires a minimum deposit of $10 to open its eOne Savings account, as observed on Oct 3, 2026. Check the bank's current terms before you open an account.
Salem Five Direct against its closest alternatives
| Bank | Savings APY | Rate paid on savings and money market deposits (Q2 2026) | Min deposit | Branches |
|---|---|---|---|---|
| Salem Five Direct | 3.66% | 2.75% | $10 | not stated |
| The Farmers State Bank | 3.66% | 0.78% | $50 | 4 branches in KS |
| Bank5 Connect | 3.65% | 1.36% | $25,000 | not stated |
| Barclays | 3.65% | 3.71% | $0 | 1 branch in DE |
Each savings APY is the top rate of the account the bank's own page leads with. Alternatives are the three tracked banks whose savings APY is closest to Salem Five Direct's.
Similar banks and related pages
Banks in the same rate band with the same product mix:
Other banks chartered in Massachusetts, nearest to Salem Five Cents Savings Bank in deposits:
Rate hubs: today's highest savings rates, and CD rates by term.