Sallie Mae Bank Money Market Review: 0.60% APY (Nationwide)

Available nationwide, Sallie Mae Bank Money Market is offering a competitive 0.60% 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.

Note: Interested in Bank Bonuses? See our favorite banks including HSBC Bank, Chase Bank, Huntington Bank, Discover Bank, TD Bank, BBVA Bank, or CIT Bank.

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: 0.60% 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

(FDIC Insured)

*Best Hub Bank Account- Very Important Account If You Chase Bank Rate* American Express® High Yield Savings Account - You earn 0.60% interest rate along with no minimum deposits or monthly fees. Amex High Yield Savings account has been my favorite Hub account for the past 5 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/Money Market Offers You May Like 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.
FEATURED BANK RATES
PROMOTIONAL LINK	OFFER	REVIEW
Chase SavingsSM	$150 Cash	Review
Axos My Savings Builder	Up to 0.70% APY	Review
Axos Bank High Yield Savings	0.61% APY	Review
Axos Bank High Yield Money Market	0.60% APY	Review
American Express High Yield Savings	0.60% APY	Review
CIT Bank Money Market	0.60% APY	Review
Simple	0.60% APY	Review
Discover Bank Online Savings	0.60% APY	Review

Sallie Mae Bank ACH Capabilities & Limits

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

1. Open a Money Market account from Sallie Mae Bank.
2. Input your info – Provide your name, address, phone, email, and social security number or Tax ID.
3. Created a secret questions/answer and a four-digit PIN number that can be used to access the telephone banking system.
4. Fund the account – Transfer funds electronically from an internal account here or an external account at another bank.
5. Earn 0.60% 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.

Bottom Line

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.

For more bank offers, see the complete list of Best Bank Rates!

Check back often to see the latest info on Sallie Mae Bank Money Market Account.

FEATURED BANK PROMOTIONS
PROMOTIONAL LINK	OFFER	REVIEW
Chase Private Client	$2,000 Cash	Review
Chase Business Checking Account	$300 Cash	Review
Chase Total Checking®	$200 Cash	Review
Chase SavingsSM	$150 Cash	Review
HSBC Premier Checking Member FDIC	$450 Cash	Review
HSBC Premier Checking Member FDIC	Up To $600	Review
HSBC Advance Checking Member FDIC	$200 Cash	Review
HSBC Advance Checking Member FDIC	Up To $240	Review
Huntington 25 Checking	$500 Cash	Review
Huntington 5 Checking	$200 Cash	Review
Huntington Asterisk-Free Checking	$150 Cash	Review
TD Bank Beyond Checking	$300 Cash	Review
TD Bank Convenience CheckingSM	$150 Cash	Review
Huntington Bank Unlimited Plus Business Checking	$750 Cash	Review
Huntington Bank Unlimited Business Checking	$400 Cash	Review
Huntington Bank Business Checking 100	$200 Cash	Review
Axos Bank Basic Business Checking	$100 Cash	Review
Aspiration Spend & Save Account	$100 Cash	Review
American Express High Yield Savings	0.60% APY	Review
CIT Bank Money Market	0.60% APY	Review
Simple	Up to 0.60% APY	Review
Ally Invest	Up to $3,500 Cash	Review
E*TRADE	$0 Commissions	Review