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Salem Five Direct – 1.25% APY Guaranteed

Traditional savings accounts feature variable APYs that can be changed at any time.

Salem Five Direct is bucking this trend by offering a guaranteed 1.25% APY on their eOneSavings account, which has a minimum of $100.

If you apply by June 1, the rate will be guaranteed for one year until April 1, 2012.

The advantage is that you get the benefits of a CD (guaranteed rate) with the flexibility of a savings account.

This product is actually very similar to the Ally No Penalty CD, which features a guaranteed 1.15% APY but ability to withdraw at any time.

Salem Five Direct is the online division of Salem Five Bank.

You must apply online by June 1 to qualify for this deal.

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