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Salem Five Bank CD Rates for 2025

Review Updated
Brittney Myers
Brittney Myers
| 1 other [ + ]
Nathan Alderman
Fact Checked: Nathan Alderman
Nathan Alderman
Nathan Alderman
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Nathan Alderman has been a full-time Motley Fool employee since 2005, making errors his arch-enemies in a variety of roles including a six-year stint as the dedicated fact-checker for The Motley Fool's premium newsletter services. As Motley Fool Money's Compliance Lead, he makes sure that all the site's information is accurate and up to date, which ensures we always steer readers right and keeps various financial partners happy. A graduate of Northwestern University's Medill School of Journalism, Nathan spends his spare time volunteering for civic causes, writing and podcasting for fun, adoring his wife, and wrangling his two very large young children.

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Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures that our product ratings are not influenced by compensation. APY = Annual Percentage Yield.

If you like banking with Salem Five and want a good place to put your money, its Special CDs could be a good pick. The Salem Five Bank CDs offer competitive rates for those who can meet the minimum balance, though that may not be easy for everyone.

To see what rates you can expect -- and how much money you'll need to get them -- read our full Salem Five Bank CD review.

Salem Five Bank CD rates

Rates as of April 22, 2025

APY = Annual Percentage Yield

Offer image for Salem Five Bank CD
Salem Five Bank CD
Bottom Line

Salem Five Bank offers Regular CDs, Special CDs, Regular IRA CDs, and Special IRA CDs. The rates showcased here are for the Regular CDs. You'll generally find the highest APYs with the bank's Special CD options, however.

Minimum deposit amounts vary for Regular CDs, depending upon the term you choose. For Special CDs, the min. deposit requirement is a hefty $10,000, while it is $2,000 for Special IRA CDs. Regular IRA CDs have the lowest min. deposit required, at just $500, no matter which term you choose.

MINIMUM DEPOSIT Varies
6 Mo. APY 9 Mo. APY 1 Yr. APY 1.5 Yr. APY 2 Yr. APY 3 Yr. APY 42 Mo. APY 5 Yr. APY
3.45% 0.05% 2.95% 2.95% 2.95% 0.35% 0.50% 0.50%

Is a high-yield savings account a better option for you?

A high-interest savings account offers rates competitive with the best CDs accounts, but without having to lock your money away for months or even years at a time. Here are some top-rated high-yield savings account options from our experts.

Account APY Promotion Next Steps
up to 3.80%
Rate info Circle with letter I in it. SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.
Min. to earn: $0
New customers can earn up to a $300 bonus with qualifying direct deposits!
3.60%
Rate info Circle with letter I in it. See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of April 8, 2025. Rates are subject to change at any time before or after account opening.
Min. to earn: $0
N/A
4.00%
Rate info Circle with letter I in it. Balances less than $250,000 earn 4.00%, and balances greater than $250,000 earn 4.20%.
Min. to earn: $0
N/A
Open Account for Barclays Tiered Savings

On Barclays' Secure Website.

Disclaimers


Compare Salem Five Bank CD rates

Overall, Salem Five Bank CDs have decent rates if you get a Special CD, though some of the best CD accounts offer even higher APYs. Moreover, Salem Five has particularly high minimum balance requirements, so those rates may not be available to everyone. Check out a few of our picks for the best CDs to see some other options.

Rates as of April 22, 2025
Bank & CD Offer APY Term Min. Deposit Next Steps
LendingClub CD
Member FDIC.
Open Account for

On LendingClub's Secure Website.

APY:
4.10%
Term:
14 Months
Min. Deposit:
$500
Open Account for

On LendingClub's Secure Website.

Discover® Bank CD
Member FDIC.
Open Account for Discover® Bank CD

On Discover Bank's Secure Website.

APY:
4.00%
Term:
1 Year
Min. Deposit:
$0
Open Account for Discover® Bank CD

On Discover Bank's Secure Website.

Western Alliance Bank CD
Open Account for

On Raisin's Secure Website.

APY:
4.00%
Term:
6 Months
Min. Deposit:
$1
Open Account for

On Raisin's Secure Website.

Details on Salem Five Bank CDs

A good CD can help your savings grow. Salem Five Bank CDs can have competitive rates compared to other banks, but they're not perfect for everyone. Here are the pros and cons.

Pros and Cons of Salem Five Special CDs

PROS

  • Competitive rates available
  • No monthly account fees
  • Variety of term lengths

CONS

  • High minimum deposit requirement
  • Rates drop for longer terms

Salem Five Special CDs Review

Salem Five's Special CDs are where you'll find the best rates -- provided you can afford them. The high minimum balance required to open these CDs may be a dealbreaker for many savers. You'll also need to stick to short-term CDs for the top APYs, as the longer-term accounts have much lower rates. On the plus side, no monthly account fees.

Pros and Cons of Salem Five Regular CDs

PROS

  • No monthly account fees
  • Variety of term lengths
  • Moderate minimum balance requirement

CONS

  • Rates are very low

Salem Five Regular CDs Review

Salem Five's Regular CDs aren't of much interest. While they have a lower minimum balance requirement than the Special CDs counterparts, it barely matters since the APYs are so low. These rates are (barely) better than your typical brick-and-mortar low-interest savings account. And they don't stack up at all to the best high-yield savings accounts.

Other Salem Five CD accounts

Salem Five also offers the following CD accounts:

  • Salem Five Direct eCD Specials
  • Retirement CDs

Who is a Salem Five Bank CD right for?

Folks who can afford the high minimum balance can earn a good rate on short-term Special CDs from Salem Five. Otherwise, it's probably best to check out your options at other banks.

Bottom line: Salem Five Bank CD rates

Salem Five Bank CD
  • 6 APY: 3.45%
  • 9 APY: 0.05%
  • 12 APY: 2.95%
  • 18 APY: 2.95%
  • 24 APY: 2.95%
  • 36 APY: 0.35%
  • 42 APY: 0.50%
  • 60 APY: 0.50%
Show All Rates [+] Hide All Rates [-]
Rates as of April 22, 2025

APY = Annual Percentage Yield

Term
Salem Five Bank CD
6 Mo.
9 Mo.
1 Yr.
1.5 Yr.
2 Yr.
3 Yr.
42 Mo.
5 Yr.
3.45%
0.05%
2.95%
2.95%
2.95%
0.35%
0.50%
0.50%

Our CDs methodology

At Motley Fool Money, certificates of deposit (CDs) are rated primarily focusing on annual percentage yield (APY) and early withdrawal penalty fees. Our highest-rated CDs generally include competitive APYs without complex qualification tiers, low withdrawal fees, reliable brand trust and reputation, and ease of use.

Learn more about how Motley Fool Money rates bank accounts.

FAQs

  • If you can meet the minimum balance requirement, a Special CD from Salem Five offers a fairly competitive rate for your short- to mid-term savings.

  • Salem Five's short-term Special CDs can be worthwhile, though they do have a high minimum balance requirement. The Regular CDs aren't worth your time or trouble.