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Their offerings including two savings accounts and a money market account.
Fortunately, you dont need a Sallie Mae student loan to take advantage of the banks high-interest savings products.
The online bank also offers an array of CDs with competitive yields.
Are Sallie Maes CDs worth it for you?
Lets explore the pros, cons, interest rates and options for Sallie Mae CDs in 2025.
Interest is compounded daily.
See the chart below for all the rates and terms.
you might choose to have your CD renew automatically at the current rate when the term ends.
The fee equals either 90 days or 180 days worth of simple interest, depending on the CD term.
You will only pay fees on the funds withdrawn, not your total balance.
you’ve got the option to withdraw the interest earned at any time with no penalty.
Toopen an accountonline, choose your terms and nudge the blue link that reads Open an account.
If you already have a Sallie Mae savings or money market account, youll be prompted to enter.
If you dont, youll need to start your app by entering your email address.
Youll also have to enter financial information, including your occupation and annual income.
This information will be used to verify your identity with Sallie Mae.
Youll need to fund your CD account immediately with a deposit of at least $2,500.
Lets consider the pros and cons of a Sallie Mae CD.
But it may not be the best option for everyone.
Lets explore a few other banks offeringCDs with high yields.
Ally Bank
Ally Bank is an online bank with a variety of account options.
The banks nine-month CD delivers a high APY of, while a 12-month CD offers.
*Capital One interest rates accurate as of 4/8/2025.
See website for all current rates.
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