Salem Five Direct is offering an eOne saving accounts that can help you earn higher rates on deposits.

The savings account offers:

• 1 percent annual percentage yield (APY) for balances up to $1 million
• Balances over $1million may be transferred to a standard statement savings account
• $100 minimum to open
• Can be used as overdraft protection for checking account
• Customers who do not currently have a savings account or checking account can apply online and current eOne checking account customers are eligible to open an eOne savings account. However accounts must be opened with funds that are not currently on deposit with Salem Five Direct.

For checking accounts Salem Five Direct will reimburse up to $15 in ATM fees per statement cycle. Also, non-PIN based purchases are eligible for Cash Back Debit Rewards. The interest rate on the checking account is 0.55 percent APY for balances up to $1 million. The bank reserves the right to transfer balances over $1 million to an eOne funding account, which has a 0.25 percent APY.

This savings account rate is accurate as of 6/10/2011.

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