Salem Five Direct

Salem Five Direct has a couple of bank deals for checking and savings accounts. The savings account offers a a 1.55% annual percentage yield (APY). The eOne Savings Account links to an eOne Checking Account.

Other details of the online savings account offer include:

• No monthly fees
• Minimum opening deposit of $100
• Savings rate applies to balances up to $1 million
• Savings can be used for overdraft protection for checking account

The checking account offers a $25 bonus when you enroll in direct deposit. The account also features:

• Cash back debt rewards
• No monthly fee
• Minimum opening deposit of $100
• Reimburses up to $15 of fees for non-Salem Five ATMs each statement cycle
• Unlimited checking, debit, and ATM transactions
• Online statements
• Earn up to 0.85% interest on checking deposits

Salem Five Direct credits the $25 bonus to the checking account within 60 days of setting up a recurring direct deposit. You have 90 days after opening an account to initiate a recurring direct deposit.

The savings and checking account offers are only available online and cannot be opened at a branch. Money in the accounts is insured by the Federal Deposit Insurance Corp. (FDIC) for up to $250,000 per depositor.

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