Salem Five Cents Savings Bank – CD Rates

February 11th, 2011

salem five cents cd rates logo

CD Rates are still incrementally creeping up. 5-year treasury yields have been holding in the 2.30% range which is definitely adding pressure on the longer-term CD Rates. I thought Ben was supposed to be holding down rates to save the housing market?!?

Salem Five Cents Savings Bank appears to be quite a healthy bank. The various rating sites give them between 3-stars to 5-stars. We gave them a 4. They certainly have competitive CD Rates with their 5-year tied for the highest that I’ve seen.

FDIC#23296
Stats Updated:09/10
Star Rating:4 (****)
Assets:$2.80BB
Equity:$264.4MM
Capital Ratio:9.43%
Profits(loss):$13.2MM
 
Phone#:(978)745-5555
Contact:Customer Service
Address:71 Washington St.
Salem, MA 01970
Website:www.salemfive.com

Salem Five Cents Savings Bank takes personal funds, trusts, and IRAs. They appear to have a pretty straightforward process. The rates below are for a $10,000 minimum balance

12-Months:0.50%
24-Months:0.80%
5-Year:1.65%

Let us know what kind of deals you are finding.
cd :O)

-- By +Chris Duncan

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