Online Banks | Salem Five Direct

Salem Five Direct

For information concerning Salem Five Cents Savings Bank parent bank, please click here.

Online Rates - September 23, 2023

Your current location is: Ashburn, VA

CD RATES APY MIN
12 Mo CD
5.00% $10,000 Compare
18 Mo CD
5.00% $10,000 Compare
24 Mo CD
5.00% $10,000 Compare
36 Mo CD
5.00% $10,000 Compare

Money that you deposit is held by Salem Five Cents Savings Bank. Salem Five Cents Savings Bank is an FDIC insured institution founded in 0000. It has approximately $6.96 billion in assets.

Overview 2023

General Information of the Parent Bank

FDIC Insured Yes
Insured Parent Bank Salem Five Cents Savings Bank
FDIC Certificate # 23296
Date Established 0000
Assets $6.96 billion
Loans $5.02 billion
Deposits $4.98 billion
Capital $0.79 billion


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Savings Comparison

This analysis is for demonstrative purposes only. Savings rates may go up or down, and CD rates may not be renewable for the length of the term of the analysis.

PRODUCT
BANK
BANK TYPE
STATE
AMOUNT
TERM
APY
VS.NATL'L AV.
MIN
MILES

Tax Rate: 30%

All calculations are for demonstration purposes only.

  • 1
    ONLINE CD
    Salem Five Direct
    Online Bank
    -
    $50,000
    12 Month
    5.00%
    10.29x (National Avg. - 0.49%)
    $10,000
    -
    SCENARIO
    Year Rate
    5.00%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 2,500 1,750
    2 52,500 2,625 1,838
    3 55,125 2,756 1,929
    4 57,881 2,894 2,026
    5 60,775 3,039 2,127
    6 63,814 3,191 2,233
    7 67,005 3,350 2,345
    8 70,355 3,518 2,462
    9 73,873 3,694 2,586
    10 77,566 3,878 2,715
    11 81,445 4,072 2,851
    12 85,517 4,276 2,993
    13 89,793 4,490 3,143
    14 94,282 4,714 3,300
    15 98,997 4,950 3,465
    16 103,946 5,197 3,638
    17 109,144 5,457 3,820
    18 114,601 5,730 4,011
    19 120,331 6,017 4,212
    20 126,348 6,317 4,422
    TOTAL $82,665 $57,865
  • 2
    LOCAL CD
    Discover Bank , ★ TOP PICK ★
    Online Bank
    -
    $50,000
    60 Month
    4.00%
    4.63x (National Avg. - 0.86%)
    $2,500
    -
    SCENARIO
    Year Rate
    4.00%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 2,000 1,400
    2 52,000 2,080 1,456
    3 54,080 2,163 1,514
    4 56,243 2,250 1,575
    5 58,493 2,340 1,638
    6 60,833 2,433 1,703
    7 63,266 2,531 1,771
    8 65,797 2,632 1,842
    9 68,428 2,737 1,916
    10 71,166 2,847 1,993
    11 74,012 2,960 2,072
    12 76,973 3,079 2,155
    13 80,052 3,202 2,241
    14 83,254 3,330 2,331
    15 86,584 3,463 2,424
    16 90,047 3,602 2,521
    17 93,649 3,746 2,622
    18 97,395 3,896 2,727
    19 101,291 4,052 2,836
    20 105,342 4,214 2,950
    TOTAL $59,556 $41,689
  • 3
    LOCAL CD
    Discover Bank , ★ TOP PICK ★
    Online Bank
    -
    $50,000
    24 Month
    4.30%
    7.15x (National Avg. - 0.60%)
    $2,500
    -
    SCENARIO
    Year Rate
    4.30%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 2,150 1,505
    2 52,150 2,242 1,570
    3 54,392 2,339 1,637
    4 56,731 2,439 1,708
    5 59,171 2,544 1,781
    6 61,715 2,654 1,858
    7 64,369 2,768 1,938
    8 67,137 2,887 2,021
    9 70,024 3,011 2,108
    10 73,035 3,140 2,198
    11 76,175 3,276 2,293
    12 79,451 3,416 2,391
    13 82,867 3,563 2,494
    14 86,430 3,717 2,602
    15 90,147 3,876 2,713
    16 94,023 4,043 2,830
    17 98,066 4,217 2,952
    18 102,283 4,398 3,079
    19 106,681 4,587 3,211
    20 111,268 4,785 3,349
    TOTAL $66,053 $46,237
  • 4
    LOCAL CD
    Discover Bank , ★ TOP PICK ★
    Online Bank
    -
    $50,000
    12 Month
    5.00%
    10.29x (National Avg. - 0.49%)
    $2,500
    -
    SCENARIO
    Year Rate
    5.00%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 2,500 1,750
    2 52,500 2,625 1,838
    3 55,125 2,756 1,929
    4 57,881 2,894 2,026
    5 60,775 3,039 2,127
    6 63,814 3,191 2,233
    7 67,005 3,350 2,345
    8 70,355 3,518 2,462
    9 73,873 3,694 2,586
    10 77,566 3,878 2,715
    11 81,445 4,072 2,851
    12 85,517 4,276 2,993
    13 89,793 4,490 3,143
    14 94,282 4,714 3,300
    15 98,997 4,950 3,465
    16 103,946 5,197 3,638
    17 109,144 5,457 3,820
    18 114,601 5,730 4,011
    19 120,331 6,017 4,212
    20 126,348 6,317 4,422
    TOTAL $82,665 $57,865
  • 5
    LOCAL CD
    First Foundation Bank , ★ TOP PICK ★
    Bank
    -
    $50,000
    18 Month
    4.75%
    9.03x (National Avg. - 0.53%)
    $2,500
    -
    SCENARIO
    Year Rate
    4.75%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 2,375 1,663
    2 52,375 2,488 1,741
    3 54,863 2,606 1,824
    4 57,469 2,730 1,911
    5 60,199 2,859 2,002
    6 63,058 2,995 2,097
    7 66,053 3,138 2,196
    8 69,191 3,287 2,301
    9 72,477 3,443 2,410
    10 75,920 3,606 2,524
    11 79,526 3,777 2,644
    12 83,304 3,957 2,770
    13 87,261 4,145 2,901
    14 91,406 4,342 3,039
    15 95,747 4,548 3,184
    16 100,295 4,764 3,335
    17 105,059 4,990 3,493
    18 110,050 5,227 3,659
    19 115,277 5,476 3,833
    20 120,753 5,736 4,015
    TOTAL $76,488 $53,542
  • 6
    LOCAL CD
    Forbright Bank , ★ TOP PICK ★
    Bank
    -
    $50,000
    12 Month
    5.65%
    11.63x (National Avg. - 0.49%)
    $1,000
    -
    SCENARIO
    Year Rate
    5.65%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 2,825 1,978
    2 52,825 2,985 2,089
    3 55,810 3,153 2,207
    4 58,963 3,331 2,332
    5 62,294 3,520 2,464
    6 65,814 3,718 2,603
    7 69,532 3,929 2,750
    8 73,461 4,151 2,905
    9 77,611 4,385 3,070
    10 81,997 4,633 3,243
    11 86,629 4,895 3,426
    12 91,524 5,171 3,620
    13 96,695 5,463 3,824
    14 102,158 5,772 4,040
    15 107,930 6,098 4,269
    16 114,028 6,443 4,510
    17 120,471 6,807 4,765
    18 127,277 7,191 5,034
    19 134,469 7,597 5,318
    20 142,066 8,027 5,619
    TOTAL $100,093 $70,065


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