-
Financial Rates:
5.0
-
Customer Service:
4.0
-
Website Experience:
5.0
-
Bank Fees:
5.0
Pros:
- No required balances or monthly fees
- High interest rates on accounts
- No required amount to earn interest
- Low opening required amounts on accounts
Cons:
- Not wide variety of accounts
- Business accounts are not offered
- eOne checking only for new customers
- No branch locations for accounts
-
Financial Rates:
3.0
-
Customer Service:
5.0
-
Website Experience:
4.0
-
Bank Fees:
4.0
Pros:
- CD bonus of higher interest rates
- Senior citizen checking accounts
- Kids Klub savings account
- Government or nonprofit checking account
Cons:
- Debit cards might not work in all states
- High opening amount for CDs
- Business checking has credit/debit limit
- Products not available to everyone
Salem Five Direct savings and checking account do not have a required balance to waive fees. Only $100 is required to open the account. After the account is open, there is no amount you must keep in the account to avoid fees. There are no monthly fees for the savings or checking account. A fee is charged if you withdraw money from your CD before maturity.
Salem Five Direct savings and checking accounts offer competitive interest rates. The rates are competitive with other online-only accounts. They are much higher than your typical brick and mortar rates. Salem Five Direct offers three different CD term lengths. Each of the three CDs offers competitive interest rates.
The accounts at Salem Five Direct do not have a set amount required to earn the highest interest rates. Any savings or checking account balance earns the highest interest rates. Each of these accounts requires $100 to open.
All Salem Five Direct accounts have low amounts required to open the accounts. The minimum amount required to open a savings or checking account, or a CD, is $100. Once you open the account, there is no set amount required to keep in the accounts.
Salem Five Direct offers one savings account and one checking account. They only offer three different term lengths of CDs. Those are 18-month, 36-month, and 48-month CD terms. Only personal deposit accounts are available.
There are no business accounts offered through Salem Five Direct. The only accounts are personal deposit accounts. Those include a savings account, a checking account, and three different CD term lengths.
To open the Salem Five Direct eOne checking account you must be eligible. To be eligible for the account you cannot have an existing account with Salem Five Bank. The funds to open the eOne account cannot come from a Salem Five Bank account. This account is only available to open online. You cannot open it at a branch location.
Each of these Salem Five Direct accounts is entirely online accounts. There are no branch locations for Salem Five Direct. If you make a transaction to your Salem Five Direct accounts at a Salem Five branch, you will be charged a fee. Reach customer service for Salem Five Direct accounts by online chat, phone, or email.
American Eagle CDs can earn higher interest rates if you earn the relationship bonus. To receive this bonus, you must have $5,000 in a qualifying checking, savings, or money market account. With this bonus, you earn around 0.15% more interest on the money in your CD.
American Eagle offers a Golden Eagle checking account for senior citizens. To qualify for the senior account, you must be over 55 years of age. This account offers unlimited check writing, no monthly fees, and a higher interest rate than their other checking accounts.
The Eagle Saver Kids Klub only requires $1 to open. Kids must be under 17 and have a parent or guardian co-signer. For every deposit made, kids earn ‘Wooden Nickels.’ Kids use those nickels to get prizes.
The American Eagle Platinum NOW checking account is for government and nonprofits. It only requires $100 to open. There is no monthly fee with at least $500 in the account. This account offers unlimited check writing, an ATM or debit card with no fees, and earns interest.
In the name of security, the American Eagle debit card may not work in all areas. Those areas include New York, New Jersey, Washington D.C., Delaware, Florida, Georgia, Maryland, Ohio, North Carolina, Pennsylvania, South Carolina, Virginia, or Canada. If you travel to these areas, you must call the bank in advance to make sure your debit card will work.
CDs require $1,000 to open and earn interest. The CD terms vary in length from six to sixty months. Special add-on CDs let you make unlimited deposits of at least $1 or more.
The business checking account limits transactions each month. You must not exceed 500 debit and credit transactions per month. There is a fee if you do.
Not all American Eagle accounts are available to everyone. You cannot apply online for an account. You must call a local branch to get information and apply for an account. Some products are only available to current customers and those living in certain areas.
Sponsored Offers
| Savings (Rate as of 4/24/2024) | |
| APY | 5.00% |
|---|---|
| Rate | 5.00% |
| For APY | $100 |
| Monthly Fee | $0.00 |
| Checkbook | No |
| Member FDIC Plus, no monthly fees and unlimited free external transfers | |
The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guarantee the accuracy or availability of any rates shown. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own website where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.
For details on our best products and how we chose them click here.
Rates proudly provided by 
For Bankrate's privacy policy, click here.
1 APY stands for Annual Percent Yield. It's different from Rate because it takes into account compounding interest for the year.
2 MMA stands for Money Market Account. It's a savings and checking hybrid, allowing you to earn interest and use checks 6 times a month.