Find the latest Sallie Mae Bank CD Rates, Offers, and Promotions here. You can now earn some of the best CD Rates from Sallie Mae Bank.
Best CD Rates: 4.75% APY 14-Month No Penalty CD ($1 min, No max), 4.70% APY 10-Month No Penalty CD ($1 min, No max)
Availability: Nationwide (internet bank)
About Sallie Mae Bank
In 1972, Sallie Mae Bank opened its banks. Although you may be more familiar with Sallie Mae as being a student loan provider they also provide traditional banking services.
Headquartered in Salt Lake City, Utah, Sallie Mae Bank is a “pure” internet bank, having no brick-and-mortar branch locations.
Accounts are available to individuals who have a valid Social Security number and a physical address in the United States.
Opening any account, including CDs, Savings, and Money Market accounts, must be done online.
Sallie Mae CD Rates
CDs are a certificate issued by a bank to a person depositing money for a specified length of time. Usually the longer of a term, the higher APY rate you make.
With as little as $1, you can invest in a Sallie Mae CD account to maximize your earnings.
Compare their offering now to find the solutions that fit best with your savings goals.
If you’re interested in making a higher rate than a traditional savings account then make sure to check out the CD rates.
- Minimum deposit: $1
- Maximum deposit: None listed
- Early withdrawal penalty:
- The 10 and 14-month CD options are not subject to an early withdrawal penalty, and withdrawals may be made 30 DAYS after opening.
- The 23 and 27-month Sallie Mae options ARE both subject to an early withdrawal penalty, but withdrawals may be made 7 days after opening.
| Term | APY Rate | Minimum Deposit |
| 10-Month No-Penalty CD | 4.70% | $1 |
| 14-Month No-Penalty CD | 4.75% | $1 |
Think of a no-penalty CD as a better version than a traditional certificate of deposit. Like its name suggests, a no-penalty CD does not impose early withdrawal penalties if you need to tap your savings before the term is complete.
No-penalty CDs aka liquid CDs, offers considerable liquidity by allowing you access to your deposited funds at anytime, with no penalty! While no-penalty CDs typically offer lower rates than fixed-term CDs, they still provide a higher rate than most regular savings accounts.
If you do need to break up your no-penalty CD before the term is over, you’ll have to take out its full value. You also cannot make incremental, top-up deposits after the first purchase.
Sallie Mae Bank CD Features
- Interest Compounded Daily
- Credited Monthly
- Competitive Rate
- FDIC Insured
Bottom Line
With a unique selection of CD lengths to choose from, you can be sure to find an account that best fits all your banking needs. Take advantage of a low required minimum balance of just $1.
For example accounts like Certificate of Deposits, Savings Accounts, and Loan services. The rates are worth a look, but always compare them with the nation’s best using our guides: CD Rates | Savings Rates.
This is a great opportunity to invest in a high-interest CD from Sallie Mae Bank. However, you may want to compare them with our best CD Rates:
- Best 6-Month CD Rates
- Best 9-Month CD Rates
- Best 12-Month CD Rates
- Best 18-Month CD Rates
- Best 24-Month CD Rates
- Best 36-Month CD Rates
- Best 48-Month CD Rates
- Best 60-Month CD Rates
- Best No Penalty CD Rates
You might even find yourself earning more than a regular savings account. Be sure to apply as soon as you can to start your new account experience. Check back often for the latest Sallie Mae Bank CD rates!
Disclaimer: Rates / APY terms above are current as of the date indicated. These quotes are from banks, credit unions and thrifts. Bank, thrift and credit union deposits are insured by the FDIC or NCUA. Contact the bank for the terms and conditions that may apply to you. Rates are subject to change without notice and may not be the same at all branches.
