Available nationwide, Sallie Mae Bank Money Market is offering a competitive 4.05% APY Rate, which is 21x the national average. Continue reading below to learn everything you need to know about Sallie Mae Bank.
About Sallie Mae Bank Money Market
Sallie Mae Bank was created in 1972. Sallie Mae Bank is currently headquartered in Murray, Utah, and maintains its customers’ deposit accounts through its online banking system.
Additionally, 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 below.
|Balance Requirement||APY Rate|
|Any Balance||4.05% APY|
Sallie Mae Bank Money Market Rate
To earn Sallie Mae Bank’s competitive rate, you don’t need a minimum balance. Just open the account with any amount and you’ll get to enjoy earning the high rate on all balances.
- Account Type: Money Market
- Interest Rate: 4.05% APY
- Availability: Nationwide
- Minimum Balance: None
- Maximum Balance: None
- Credit Inquiry: Soft pull
- Opening Deposit: None
- Monthly Fee: None listed
- Early Termination Fee: None
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
- Open a Money Market account from Sallie Mae Bank.
- Input your info – Provide your name, address, phone, email, and social security number or Tax ID.
- Created a secret questions/answer and a four-digit PIN number that can be used to access the telephone banking system.
- Fund the account – Transfer funds electronically from an internal account here or an external account at another bank.
- Earn 4.05% APY on any balance which is compounded daily, paid monthly.
Why You Should Sign Up For This Account
- No minimum deposit – You can open your account with as little as $1 and still continue to earn a high rate APY.
- No monthly fees – Sallie Mae Bank allows you to maintain an account without having to worry about any transaction fees, allowing you to earn as high of a return as you can on your investment.
- 24/7 account access – You’ll be able to manage your funds from the comfort of your own home at any time.
- FDIC insured – Your funds will be FDIC insured up to the maximum amount of $250,000.
Check out Sallie Mae Bank and open a Money Market account with this amazing 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.
Interested in Bank Bonuses? See our favorite banks including HSBC Bank, Chase Bank, Huntington Bank, Discover Bank, TD Bank, or CIT Bank.
For more bank offers, see the complete list of Best Bank Rates!
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They offer predatory loans to students at 11 to 13% interests, so 1.75% APR is not impressive at all!