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Personal, committed service. You’ve earned it.
Our All-in-One Checking Account with Rewards Open a checking account now!!
Our All-in-One Checking Account with Rewards Open a checking account now
Make your move to Salem Five Insurance today! Find Career Opportunities
Everything for small to mid-sized businesses to succeed. About Business Forward Checking
Our full suite of services make banking easy
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AccountsThe Open Checking AccountThe Open Account will offer the benefits and rewards of our best current checking accounts in one smart account that rewards customers according to their monthly balances.Savings & Money MarketSavings and money market accounts earn interest but allow you easy access to your funds. Salem Five offers several savings options, with variations in interest rates, minimum balance, etc., to help you work toward your financial goals.CDsIf you’d like to earn more interest on your savings and won’t need to access it for a few months or years—deposit periods vary—a certificate of deposit, or CD, could be the way to go. Generally, CDs pay higher interest than savings or money market accounts, but offer a locked-in interest rate over a set period of time.
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LoansStar Home Equity Line of CreditA home equity line of credit (HELOC), also called a home equity loan or a “second mortgage,” is a revolving loan that uses the value of your home as collateral. It’s a great way to fund larger expenses like home improvements or debt consolidation while only paying interest on the amount you borrow.Automobile LoansWhether you’re financing your dream car or looking to improve an existing rate, we understand the excitement of getting new wheels—and we’ll balance that with wisdom and experience, to help you get the right rate for the right term.Overdraft ProtectionOverdraft protection is peace of mind, pure and simple. Essentially a line of credit, overdraft protection kicks in when your checking account has insufficient funds, preventing returned checks and overdraft fees—as well as embarrassment and headache.Student LoansIf you’re attending a degree-granting institution, from a technical school to a four-year university, and you have college expenses that aren’t covered by scholarships or federal student loans, a Salem Five Smart Option Student Loan can help see you through to graduation.
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InsurancePersonal and BusinessSalem Five Insurance is locally-born, regionally inspired and globally minded. With access to an extensive list of insurance carriers and a dedicated team of experts, we can customize protection for your unique needs. Whether it's for your business, or your family, we will work hard for you.
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MortgagesFixed-RateA fixed-rate mortgage keeps your interest rate the same for the life of your loan, a great option if you plan to be in your home for a long time. Whether you’re buying or refi-ing, make sure your mortgage stays in the community.Adjustable Rate (ARM)An adjustable-rate mortgage starts with the interest rate fixed for a certain period, which keeps your payments the same every month; then, your interest rate—and therefore payments—adjust based on current national rates.Construction and RenovationBuilding a new home, or renovating an old one, can be costly. Don’t let interest rates and mortgage fees pile on top. We have a lot of construction and renovation financing options to help you build the home of your dreams.JumboWhen your lending needs are a little bigger than average, Salem Five is here for you. Our jumbo mortgages are easily navigable with the help of a Salem Five lender, and can help you achieve your next step—even if it’s a doozy.ReverseWith a reverse mortgage, the bank pays you, rather than the other way around. Based on the value of your home and other factors, a reverse mortgage can help with your cash-flow needs. Our lenders will walk you through the process every step of the way.VASalem Five is proud to support our servicemen and women with excellent home-buying opportunities. Our competitive-interest veterans’ loans are guaranteed by the U.S. Department of Veterans’ Affairs.Specialty LendingSalem Five has plenty of options for mortgages and other types of lending that don’t fall into a standard category. We’ll work with you to find the right term, rate, and program for your project.
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InvestmentsRetirement PlanningPlanning for the kind of retirement you want is critical to your future happiness and comfort. Retirement investing can be complicated, with so many options available—that’s why it’s important to work with someone you trust. Grounded in the greater Boston community since 1855, Salem Five is here for you, now and in your future.Education PlanningSaving for a young person’s college education is an investment in the future. Our investment planners can help you understand the options and tax advantages available through 529 college savings plans (qualified tuition plans) and make the right choices for your child’s future.Estate PlanningMore than a simple will is required to plan how your estate will be dispersed among your heirs and to best protect it from tax burdens. Salem Five’s estate planning experts can help you anticipate and arrange for how your estate—your assets, wealth, and property—will be managed and settled.
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Digital BankingOnline and Mobile BankingGet up-to-the-minute account balances and information online and on your mobile devices.Mobile AppOur personal banking mobile app allows you to check balances, pay bills, make deposits, transfer funds and find branch locations.Zelle®Zelle is the fast, safe and easy way to send money to friends and family from your online or mobile device.Card ControlsProtect your debit card with transaction alerts and the ability to turn your card on and off when you need to temporarily suspend usage.Mobile DepositMake check deposits quick, easy and secure within our mobile banking app. Simply sign and snap a photo. It’s that easy!
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CalculatorsCalculators & PlanningWhether you plan to buy a house or save for retirement, we want to help you get there. Our financial calculators are easy-to-use tools to help you start your journey.
You can rely on our people
Our employees are experts in their fields—and they’re also your neighbors. We’re here for you.
We are very pleased with the service Salem Five has given us. We have been a long-time customer with this bank and plan on continuing using them. Thank you!
David S., Danvers
The store is close to my home. I won't bank with any other bank. Everyone is very professional. I like the employees. They know me and treat me like family. I have used everything they have to offer over the years. They are local. That is important to me.
Edward Z., Swampscott
I get great service. The employees are very helpful and ensure things are professionally done for their customers. I like the convenience of their locations, and now, the online services. They are a mutual bank that cares about the community.
David F., Beverly