Deal Summary:

Salem Five’s longest term and highest paying certificate of deposit pays .5% APY for 5 years with a minimum deposit of $500.  Interest is paid out at maturity and there is a penalty for early withdrawal.

Salem Five Bank CD Options:

We offer a generous 10 traditional certificate of deposit options. Our second most popular and second highest paying option is our 4 year certificate of deposit at .5% APY with a minimum $500 deposit. Interest is paid out at maturity.

Salem Five also offers 3 month, 6 month, and 12-17 month certificates at .05% AP with a minimum deposit of $2500. We do also have a unique 9 month CD with a minimum deposit of $10,000 that pays .05% APY.

A series of special certificates of deposit are also available with a minimum $10,000 deposit. 5 years to 30 months offers .75% APY while 12 month to 24 month offers .35% to .6%.

We offer a series of certificates of deposit because our customers have a variety of needs. Customers often do not like to have their cash tied up for years since CDs do incur a penalty for early withdrawal. Instead, we ask for a bigger deposit for a short term certificate so you can earn more. You are always encouraged to deposit more than the minimum. We also encourage customers to use CD “laddering” or investing in smaller, shorter term CDs to have more flexible cash.


Salem Five Bank only asks that you become a member and make a checking or savings accounts before you make your certificate of deposit. The accounts you make will receive the interest you earn on your CD.


We offer 24 locations throughout Massachusetts, so you are never too far away from a branch or free ATM.

Bank Overview

We started in 1855 as a savings bank serving Salem. Since then, we have become a community owned bank and started our own Salem Five Charitable Foundation. We have three main goals with our Charitable Foundation: Economic Self Sufficiency, Workforce Development, and Financial Literacy. As a result, we support community organizations like food shelves, financial education for children and adults, and organizations dealing with homelessness. We believe that community improvement can come from people who are having a difficult time contributing because they have had financial barries or substance abuse issues that keep them on the streets in unsafe ways.

We are a community bank who want to help you and your family stay on top of your finances by making products and services that help you gain and grow wealth, including getting to work in your vehicle and saving for college or retirement. One of the best feelings is helping a youngster learn financial literacy and come back to open a retirement account or quality for a home loan.