Savings Account Features Guide
| Interest Rate |
| APY |
4.25% |
| Minimum deposit amount |
$0.00 |
| Maximum deposit amount |
$1,000,000.00 |
| Balance Requirements |
| Minimum Opening Deposit |
$10.00 |
| Minimum Balance to Avoid Fees |
- |
| Minimum Required Balance |
- |
| Fees |
| Monthly Maintenance Fee |
N/A |
| Foreign ATM Fees |
$2.00 |
| Insufficient Funds Fee |
$35.00 |
| Incoming Wires |
$15.00 |
| Account Opening |
| Open Online |
Yes |
| Insured by |
F.D.I.C.
|
| Statements |
| Paper Statements |
Yes |
| Online Statements |
Yes |
| Online and Telephone Banking |
| Online Banking |
Yes |
| Telephone Banking |
Yes |
| Mobile Banking |
Yes |
| Deposit Checks with Mobile Device |
Yes |
| Free Bill Pay |
Yes |
| Online Bill Payments Required |
Yes |
Account Description
• Earn an industry-leading rate of 0.50% APY with absolutely no commitment.
• Open in minutes with just a $10 deposit
• No minimum balance and no monthly fees
• FDIC & DIF Insurance to protect your entire balance
• High-yield savings account
• No commitment - move money in and out whenever you want
• Free Online Banking and mobile banking app
• Mobile deposit and text alerts
• External transfers to move money easily
• eOne Savings eligibility is limited to consumers who apply online and who do not have an existing checking or savings account with Salem Five Bank at the time of the application, except that consumers with an existing eOne Checking Account are eligible for the eOne Savings Account.
• eOne Savings earns 0.50% APY on daily balances of $0.01-$1,000,000. Salem Five reserves the right to transfer balances over $1,000,000 to a Statement Savings Account which currently earns an APY of .02%. eOne Savings may be used to provide overdraft protection for eOne Checking.
Rate History
|
Date
|
APY
|
|
November 17, 2024 |
4.25%
|
|
October 2, 2024 |
4.50%
|
|
October 2, 2024 |
4.41%
|
|
August 20, 2023 |
5.01%
|
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