bank rates

SFGI Direct Tops Savings Accounts Again

Salem Five Direct has dropped the rate i's offering new customers for its eOne Savings account.Salem Five Direct has dropped the interest rate it’s offering new customers for its eOne Savings account.

That’s returned SFGI Direct to the top of our rankings of the best nationally available savings accounts.

When the online division of Salem Five Bank, in Salem, Mass., rolled out its eOne Savings in mid-April, it promised anyone who signed up by Wednesday a special deal.

They would earn 1.25% APY, on balances up to $1 million, for at least one full year.

After the deadline passed, Salem Five Direct reduced the rate for new customers to 1.00% APY.

Salem Five has 22 branches in the Boston area, but to get its top rate, you must open an account online and deposit at least $100.

While the new rate is still far above the national average, there are plenty of other banks where you can get more bang for your buck.

That certainly includes SFGI Direct, which led our rankings from the start of the year until Salem Five Direct began its special offer.

The online division of Summit Community Bank, which has 15 branches in Virginia and West Virginia, is still paying 1.21% APY with a $500 minimum deposit

You can compare these rates with the best money market and savings account rates from scores of banks in our database.

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One Existing Comment
  1. Kathy at Bankaholic said:
    on June 24th at 08:15 am

    SFGI Direct is still paying 1.00% as of today.