Salem Five Direct eOne Savings Account: 4.01% APY [Nationwide]

If you’re looking for a new savings account available nationwide, Salem Five Direct eOne Savings Account is offering you 4.01% APY on your funds.

Update 2/28/25: The rate has decreased to 4.01% APY from 4.25%.

Salem Five Direct eOne Savings

Here is your opportunity to earn a great interest rate on your funds. Open a new account with a minimum opening deposit of $100 to start earning interest and get started today!

• Rate Offer: 4.01% APY Rate
• Availability: Nationwide
• Minimum Balance: None
• Maximum Balance: $1,000,000
• Credit Inquiry: Hard Pull via Equifax
• Credit Funding: No
• Opening Deposit Requirement: $10
• Monthly Service Fee: None
• Early Termination Fees: None listed

(FDIC Insured)

Account Benefits

• FDIC and DIF insurance to protect your entire balance
• No commitment – move money in and out whenever you want
• No minimum balance
• Absolutely no monthly fees and a free ATM card
• Free Online banking and mobile banking app
• Mobile deposit and text alerts
• External transfers to move money in and out of the account easily

Notes:

• External Transfers from your account are limited to $5,000 per transaction; $5,000 in aggregate per day; and $20,000 in aggregate per rolling 30 days.
  • You may make a maximum of 3 external transfers from your account per day and a maximum of 25 external transfers from your account per rolling 30 days.
• There are no fees for incoming or outgoing external transfers initiated from your Online Banking account.
• All DIF member banks are also members of the FDIC. Each depositor is insured by the FDIC to at least $250,000. All deposits above the FDIC insurance amount are insured by the Depositors Insurance Fund (DIF).
• The combination of FDIC and DIF insurance provides customers of our member banks with full deposit insurance on all their deposit accounts. No depositor has ever lost a penny in a bank insured by both the FDIC and the DIF.

Author’s Verdict

Pretty great account, but the hard pull throws me off. There are obviously better accounts out there without a hard pull. If you’re unfamiliar with what hard pull and soft pulls are and how it can affect you, see our hard pull vs soft pull post here.

In addition to the current rate from Salem Five Direct, you can also take advantage of a range of great promotions from banks such as HSBC Bank, Chase Bank, Huntington Bank, Discover Bank, TD Bank, or CIT Bank.

Let us know about your thoughts and experience with this account! Be sure to check back on BankDealGuy for more bank rates!