Salem Five Direct Promotions and Offers for 2025

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In 1995, Salem Five Direct established itself as the first bank on the internet. As the only online division of Salem Five Cents Savings Bank, they offer savings, checking and CDs. Learn more about Salem Five Direct promotions and bonus offers that are available now.

Current Salem Five Direct Promotions: September 2025

You can take advantage of the Salem Five Direct eOne savings account and promotional CD offers.

Savings Offer

Promotional CD Offers

Salem Five Direct eOne Savings Account: APY

If you’re looking to open a new personal savings account with Salem Five Direct, it will only take you a few minutes. The account earns APY and requires a minimum deposit of only $10.

Here are key takeaways: 

• Minimum deposit: $10
• Expiration date: N/A
• How to get it: You need to fill out an online application. Be prepared to provide your Social Security number, driver’s license number, address, email and joint owner information — if that is the case. 
• When you’ll get it: You can start earning an APY of for balances up to $1,000,000 as soon as your account is funded.
• Fees: No monthly maintenance fees or minimum balance requirements
• Terms and conditions: Account is available exclusively to those who apply online and do not have an existing checking or savings account with Salem Five Bank at the time of application. If you have an existing eOne Checking Account at Salem Five Direct, you are still eligible. The account must be funded with money not previously on deposit with Salem Five or Salem Five Direct.

Learn more about this savings offer here.

Salem Five Direct Promotional CDs: APYs up to

Salem Five Direct offers promotional high-yield CDs for 12-month and 15-month terms with APYs ranging from to . The minimum deposit required is $10,000, and the maximum deposit is $500,000. 

Here are key takeaways: 

• Minimum deposit: $10,000 
• Expiration date: N/A
• How to get it: Apply online. You will need your Social Security and driver’s license numbers, state-form photo ID or green card. You will also need to fund your account. 
• When you’ll get it: Once you fund the account with the required amount, you will be eligible for the respective APY.
• Fees: No monthly maintenance fees
• Terms and conditions: Promotional CDs are available to existing account holders. Each customer is limited to one promotional CD. Early penalty withdrawals apply.

Learn more about the promotional CD accounts here.

How To Qualify for a Salem Five Direct Account

To qualify for these Salem Five Direct promotions, you need to open an account. Here are the steps: 

Step 1: Gather the Necessary Information

• Social Security number
• State-issued ID
• Date of birth 
• Physical address 
• Phone number
• Email 

Step 2: Complete the Online Application

Visit the eOne Savings account page or CD page and click on open an account. Provide the necessary personal details. 

Step 3: Fund Your Account

For the eOne Savings account, you will need to deposit at least $10. The account must be funded with money not previously on deposit with Salem Five or Salem Five Direct. You can use a check from another bank, external account, a direct deposit or wire transfer.

For the promotional CDs, you will have to deposit $10,000 to meet the minimum requirement. You can either fund the CD with an external account or an account at Salem Five Direct.

Step 4: Submit Your Application

Review all your information for accuracy, agree to the terms and conditions, and submit your application. 

Comparing Salem Five Direct Savings Offers to Competitor Offers

Salem Five Direct requires a lower minimum deposit than competitors for the savings account. But the APY is lower than Bread Financial and Popular Direct.

Comparing Salem Five Direct CD Offers to Competitor Offers

Salem Five Direct requires $10,000 to open the promotional CD accounts. This may be too high a bar for some customers. Here’s how other banks compare: 

Tips for Maximizing Your Salem Five Direct Offer

Salem Five Direct is offering a promotional rate on CDs, but they may periodically offer more bonuses or promotional rates. Here are some general guidelines on how to capitalize on promotions and bonuses.

• Maintain your account requirements. For a savings account, make sure you continue to meet the requirements for the APY. You will have to fund your CD with the required $10,000.
• Check the website frequently. Banks tend to offer promotions and bonuses throughout the year. Be certain to check the website frequently. 
• Avoid fees. Understand that if you withdraw early from your CD, you will face penalties. 

Final Take

Salem Five Direct offers a savings account with a minimum deposit of $10 and an APY of . This offer doesn’t list an expiration date and could appeal to a wide range of new customers.

The promotional CDs offer a high APY, but require a $10,000 minimum deposit. You also must have an account at Salem Five Direct to capitalize on the rate. If you have extra cash and want to earn money on it, this could be an ideal way to grow your existing funds.

More About Salem Five Direct

• Salem Five Direct Review
• Salem Five Direct CD Rates
• Salem Five Direct Promotions and Offers

Cynthia Bowman contributed to the reporting for this article.

Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Sept. 4, 2025.

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