Salem Five Direct
Last Updated: 6/20/2025
Note: Interest rates below are reported as APY, or Annual Percentage YieldQuick Views
eOne Savings: 4.01% APY(Rank 43 out of 74 tracked HYSAs)
Minimum Deposit: $10 | Online Only
National Savings Interest Rate: 0.42% (as of 5/19/2025)
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
- 4.01% APY with no change from 30 days ago.
- $0 maintenance fee for eOne Savings account.
- High App Store rating of 4.7.
- A- BBB rating indicates good trustworthiness.
Considerations
- No physical branches available for customer service.
- Not BBB Accredited, which may raise concerns.
- Direct deposit not required, but may limit options.
- Minimum deposit of $10 may deter some users.
Summary: Salem Five Direct offers a competitive 4.01% APY on its eOne Savings account, with no maintenance fees. However, it lacks physical branches, and while it has an A- BBB rating, it is not BBB Accredited. The account requires a minimum deposit of $10, which could be a barrier for some savers. The bank enjoys high ratings on both the App Store and Google Play, indicating user satisfaction.
Savings Account
Savings Account Offered by Salem Five Direct
| Feature | eOne Savings |
|---|---|
| APY | 4.01% (as of 6/20/2025) |
| 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 | 149 |
| 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 150 days.
- Low (-5 m)
- Lowest APY in the last 150 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 6/20/2025) | 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 |