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Originally a federal student loan
If you're looking to make the most of your shor
Sallie Mae Bank Highlights
- Up to
5.30 % APY. - No mon
thly mainten ance fees. - Savin
gs and money market accounts have no minimum balance requireme nts. - CDs r
equire a minimum deposit of $2,5 00.
Who Is Sallie Mae Best For?
Sallie Mae offers high interest rates o
You may consider opening a savings, money market, or CD account with Sallie Mae if:
- You want to ea
rn a high yield on your short -term savings. - You want to track mu
ltiple savings goals without opening several savings acco unts. - You don'
t mind not having AT M access. - You have a lar
ge chunk of money you can part with for a ye ar or longer.
Explore the Best Savings Accounts
Visit the MarketplaceSallie Mae SmartyPig® Account
- Inter
est rate: 4.25 % APY - Mini
mum opening deposit: N one - Minimum balance requirement: None
- Mont
hly maintenance fee: None
The Sallie Mae Sm
You can add a
The account offers a tie
Balance | APY |
---|---|
$0.01 – $2,500 |
4.25% |
$2,500.01 – $10,000 |
4.25% |
$10,000.01 – $50,000 |
4.25% |
$50,000.01 and up |
4.25% |
Compared to other top high-yield savings accounts, tha
Recommended High-Yield Savings Accounts
Bank Account | APY | Features | Learn More |
---|---|---|---|
|
4.85%
*Annual Percentage Yield (APY) is variable and is accurate as of 11/15/2024. Rate is subject to certain terms and conditions. You must deposit at least $5,000 to open your account and maintain $25 to earn the disclosed APY. Rate and APY may change at any time. Fees may reduce earnings. |
$5,000 min. deposit |
Open Account |
|
Up to 4.86%
Earn up to 4.86% APY on savings, and 0.51% APY on checking when you meet requirements. |
No minimum deposit |
Open Account |
Member FDIC |
0.50% - 4.00%
SoFi members with Direct Deposit or $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 4.00% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either Direct Deposit or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi members with direct deposit are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of 12/3/24. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. |
No minimum deposit |
Open Account |
|
4.55%
Earn 4.55% APY on balances over $5,000. Balances of less than $5,000 earn 0.25% APY. Annual Percentage Yield is accurate as of November 13, 2024. Interest rates for the Platinum Savings account are variable and subject to change at any time without notice. |
$100 minimum deposit |
Open Account |
Finally, the SmartyPig account offers a $1
You can withdra
Explore the Best Bank Bonuses Currently Available
Visit the MarketplaceSallie Mae High-Yield Savings Account
- Interest r
ate: 4. 50% APY - Minimu
m opening deposit: N one - Minim
um balance requi rement: None - Month
ly maintenance fe e: None
Sallie Mae's High-Yield Savings Account offe
That said, its APY doesn't compete with the best high-yield savings accounts on the market. Additionally, the only
Recommended High-Yield Savings Accounts
Bank Account | APY | Features | Learn More |
---|---|---|---|
|
4.85%
*Annual Percentage Yield (APY) is variable and is accurate as of 11/15/2024. Rate is subject to certain terms and conditions. You must deposit at least $5,000 to open your account and maintain $25 to earn the disclosed APY. Rate and APY may change at any time. Fees may reduce earnings. |
$5,000 min. deposit |
Open Account |
|
Up to 4.86%
Earn up to 4.86% APY on savings, and 0.51% APY on checking when you meet requirements. |
No minimum deposit |
Open Account |
Member FDIC |
0.50% - 4.00%
SoFi members with Direct Deposit or $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 4.00% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either Direct Deposit or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi members with direct deposit are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of 12/3/24. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. |
No minimum deposit |
Open Account |
|
4.55%
Earn 4.55% APY on balances over $5,000. Balances of less than $5,000 earn 0.25% APY. Annual Percentage Yield is accurate as of November 13, 2024. Interest rates for the Platinum Savings account are variable and subject to change at any time without notice. |
$100 minimum deposit |
Open Account |
5 High-Yield Savings Accounts With Over 5.00% APY
Sallie Mae Money Market Account
- Inter
est rate: 4.75% APY - Minim
um opening deposit: N one - Minim
um balance requirement: None - Mont
hly maintenance fee: None
If you like Sallie Mae's High-Yield Savings Account but
Unlike some other standard money market accounts, Sallie Mae doe
UFB Direct Portfolio Money Market: Earn 4.01% APY
Sallie Mae Certificate of Deposit (CD)
- Interest rate: Up to 5
.30 % APY - Minimum op
ening deposit: $2 ,500 - Term
s: Six months to fi ve years - Early-withdrawal penalty: Up
to 180 days' simple i nterest
Sallie Mae offers a wide range of terms and rates for its CDs, with so
Term | APY |
---|---|
6 months |
4.95% |
9 months |
5.10% |
11 months |
5.15% |
12 months |
5.25% |
13 months |
5.25% |
15 months |
5.30% |
18 months |
5.15% |
24 months |
4.65% |
30 months |
4.00% |
36 months |
4.00% |
60 months |
4.00% |
If you withdraw funds befor
4 Best No-Penalty CD Rates in December 2024: Earn Up to 4.70% APY
Other CDs to Consider
Recommended CD Accounts
Account | 1-Year APY | 3-Year APY | 5-Year APY | Learn More |
---|---|---|---|---|
|
0.30%
Annual Percentage Yield is accurate as of April 2, 2024. Interest rates for CIT Bank's term CDs are variable and subject to change at any time without notice |
0.40%
Annual Percentage Yield is accurate as of April 2, 2024. Interest rates for CIT Bank's term CDs are variable and subject to change at any time without notice |
0.50%
Annual Percentage Yield is accurate as of April 2, 2024. Interest rates for CIT Bank's term CDs are variable and subject to change at any time without notice |
Open CD |
|
4.00% | 4.00% | 3.50% | Open CD |
|
4.10% | 3.65% | 3.60% | Open CD |
|
4.10% | 3.50% | 3.40% | Open CD |
|
4.00% | 3.25% | 3.00% | Learn More |
Is Sallie Mae Worth It?
Sallie Mae offers som
As with any other financial decision, take some time to research all of your options to determine the best fit for you.