You can now read 10 articles in a month for free on BostonGlobe.com. Read as much as you want anywhere and anytime for just 99¢.

The Boston Globe

Business

Seeking a higher rate? Bank won’t always steer you online

Deymond Lashley has never set foot in a Salem Five Bank branch — or even the bank’s hometown of Salem, for that matter.

But when the New Yorker started hunting for high-paying online savings accounts, he discovered that Salem Five’s Internet banking division, Salem Five Direct, paid 1.25 percent a year, one of the highest rates in the country. He set up an account and locked in the rate last month.

Loading comments...

You have reached the limit of 10 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week