Available nationwide, Sallie Mae Bank High-Yield Savings is offering a competitive 0.55% APY Rate, which is 20x the national average. Continue reading below to learn everything you need to know about Sallie Mae Bank.
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About Sallie Mae Bank High-Yield Savings
Sallie Mae Bank was created in 1972 and is currently headquartered in Murray, Utah. They maintain their customers’ deposit accounts through its online banking system.
Sallie Mae Bank online banking provides the only way for customers to access their deposit accounts. The web-based platform gives account holders the ability to perform functions like direct deposit, bill pay, and fund transfers.
I’ll review Sallie Mae Bank High-Yield Savings below.
Sallie Mae Bank High-Yield Savings Rate
- Account Type: High-Yield Savings
- Interest Rate: 0.55% APY
- Minimum Balance: None
- Maximum Balance: None
- Availability: Nationwide (Online)
- Credit Inquiry: Soft pull
- Opening Deposit: None
- Credit Card Funding: Unknown. Let us know.
- Monthly Fee: None listed
- Early Termination Fee: None
American Express® High Yield Savings Account - You earn 0.40% interest rate along with no minimum deposits or monthly fees. Amex High Yield Savings account has been my favorite Hub account for the past 7 years. Using this account to Pull/Push your money is absolutely necessary when you have many accounts. Here's why:
*No dollar limitations for ACH transfers - When you find a top bank rate account, you don't want to be limited to just $5K or $10K transfers. Amex Savings will let you transfers as much as you want whether you are pulling or pushing money from and to an external bank account.
*1 to 2 business days ACH transfers speed - With top-notch user interface, you get your money to another external account or pull money from another bank account within a day or two.
*No loss of interest during transfers - On the day you initiate your transaction on the high yield savings account website, the funds will be reflected in your Current Balance and begin earning interest.
Some other features from American Express High Yield Savings Account include Free Wire Transfers, 3 maximum linked accounts, and maximum 6 ACH withdrawals per month.
Savings account offers are frequently updated. Find the best nationwide Savings/Money Market rates here, and the best Savings account bonuses here. The Axos Bank and CIT Bank accounts offer great rates available nationwide which I recommend.
|Aspiration||1.00% APY + $100 Cash||Review|
|Axos Bank High Yield Savings||0.61% APY + $100 Cash||Review|
|Axos My Savings Builder||Up to 0.70% APY||Review|
|Axos Bank High Yield Money Market||0.60% APY||Review|
|CIT Bank Money Market||0.45% APY||Review|
|American Express High Yield Savings||0.40% APY||Review|
|Discover Bank Online Savings||0.40% APY||Review|
Sallie Mae Bank ACH Capabilities & Limits
|ACH Type||Speed||Daily $ Limit||Monthly $ Limit||Notes|
Editor’s Note: Help us with the table above in the comment section if you have experience with Sallie Mae Bank’s ACH capabilities.
How to Earn Sallie Mae Bank Rate
- Apply and sign up online. You must provide all of your personal credentials.
- Open a High-Yield Savings Account
- Earn the 0.55% rate and gain access with all of their features.
|Balance Requirement||APY Rate|
|Any Balance||0.55% APY|
Why You Should Sign Up For This Account
- No minimum balance or monthly fees
- Free transfers with a maximum of 6 withdrawals per month
- Easy online account management
- APY compounded daily and paid monthly
- FDIC-insured for your peace of mind
Check out Sallie Mae Bank and open a High-Yield Savings account with this rate. The fact that you can earn a high rate on any balance makes this Savings Account worth looking into. Let us know about your experience with this bank and comment below.
For more bank offers, see the complete list of Best Bank Rates!
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