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Banking

Introducing four smart ways to save from Sallie Mae.

Save for the future with top rates1 and no monthly fees. Compare your savings options


Money Market

  • Easy access to your funds5, no minimums, and a top rate1
  • 0.90% APY2
  • No minimum balance, minimum deposit, or monthly maintenance fee
  • Check-Writing5

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High-Yield Savings Account

  • Competitive interest rate that is 10X the national average1
  • 0.80% APY3
  • No minimum balance, minimum deposit, or monthly maintenance fee
  • Easy online account management, 24 hours a day

Open Account  

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Certificates of Deposit

  • A great rate and a guaranteed return
  • Earn 2.10% APY4 on a 5-year Certificate of Deposit
  • No monthly maintenance fee, $2,500 minimum deposit
  • 12 month, 36 month, and 60 month terms available

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Upromise GoalSaver Account

  • Earn cash rewards as you save for your goals6
  • 0.85% APY7
  • Set up automatic deposits
  • Share your goals with family and friends

Open Account  

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FDIC
 
 

Sallie Mae Bank Customers

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Have questions?

Get help deciding which account is right for you.
Call us at (877) 346-2756(877) 346-2756


Browse Savings and CDs FAQs


 
 

1 Based on a December 8, 2015, review of competitor rates and APYs.

2 Advertised Interest Rate and Annual Percentage Yield (APY) for the Money Market account are variable and may change after opening, apply to personal accounts only, and are accurate as of . Fees could reduce earnings. Please refer to the Account Terms and Conditions Agreement for details.

3 Advertised Annual Percentage Yield for the High-Yield Savings Account is variable and may change after opening, applies to personal accounts only, and is accurate as of . Fees could reduce earnings. Please refer to the Account Terms and Conditions Agreement for details.

4 Advertised Annual Percentage Yield for Certificates of Deposit may change after maturity, applies to personal accounts only, and is accurate as of . A penalty may be charged for early withdrawal. Fees could reduce earnings. Please refer to the Account Terms and Conditions Agreement for details.

5 Federal Regulation D limits certain types of withdrawal and transfer transactions you can make from your Sallie Mae Savings or Money Market accounts to a maximum of six per monthly statement period per account. An Excessive Transaction Fee applies for each transaction that exceeds the limit, but no more than seven Excessive Transaction Fees shall ultimately be charged per monthly statement period. Should you make more than seven Excessive Transactions during a monthly statement period, the additional Excessive Transaction Fees will be credited to you during the following monthly statement period. Please refer to the Account Terms and Conditions Agreement for details.

6 Cash rewards will post to Upromise GoalSaver account(s) in the form of interest payments and is subject to taxable income rules. Each cash reward program is subject to individual eligibility requirements:

  • 10% Match on Upromise Rewards: To be eligible for the 10% annual match on your Upromise earnings from Upromise, you must link your Upromise GoalSaver Account to your Upromise Account and, within 90 days of opening your Upromise GoalSaver Account, either: 1. Make your first of at least 10 externally funded credit/deposit transactions into the Upromise GoalSaver Account and complete at least 10 externally funded credit/deposit transactions within the anniversary year or 2. Fund your Upromise GoalSaver Account with $5,000 or more and maintain an average daily balance of $5,000 or more during the 12 months from account opening. Should you fail to meet the requirements during the anniversary year, you will have the opportunity to become eligible for the 10% match in additional years if, by your anniversary date, you (a) link your Upromise GoalSaver Account to your Upromise Account, and (b), you either meet the $5,000 average daily balance minimum funding requirement, or you meet the 10 externally funded credit/deposit requirement in the anniversary year. If you qualify for the 10% match based on having the average daily balance of $5,000 in your Upromise Account, you must maintain that average balance in your Upromise GoalSaver for the duration of the anniversary year for which your transferred earnings will be matched. Once you complete the steps above, Upromise will match 10% of your Upromise earnings that you transfer from your Upromise Rewards Account into your Upromise GoalSaver Account during each anniversary year. Your match will be deposited into your Upromise GoalSaver Account within 60 days after your anniversary date, provided that both accounts remain active at time of transfer. Please refer to GoalSaver FAQs for additional information. Upromise may change or terminate the 10% annual match at any time without notice. Other terms and conditions may apply. Upromise accounts are not FDIC insured, carry no bank guarantee and may lose value.
  • Annual Bonus: $10 Annual Bonus will post to your Upromise GoalSaver account within 60 days of the completion of each anniversary from the date your account was opened. To be eligible for the bonus each year, you must have a recurring deposit post at least 10 out of the 12 months in an amount not less than $10 each deposit and your account must be in an open status at the time of bonus posting.
  • Loyalty Bonus: $100 will post to your Upromise GoalSaver account within 60 days of the completion of the 3rd year anniversary of when your account was opened. To be eligible the Account must maintain at least $0.01 up until the day before the 3rd anniversary date, a $5,000 balance must be reached by and remain in the account on the 3rd anniversary date and the account must be in an open status at the time of bonus posting.

7 Advertised Annual Percentage Yield is variable and is subject to change after account opening. Rate effective as of . Please refer to the account Terms and Conditions Agreement for details.

Deposit products, including Upromise GoalSaver, are offered through Sallie Mae Bank, Member FDIC.

Sallie Mae, Sallie Mae Bank and the Sallie Mae logo are service marks or registered service marks of Sallie Mae Bank or its subsidiaries.

Upromise and the Upromise logo are registered service marks of Upromise, Inc.

WE RESERVE THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE. CHECK SALLIEMAE.COM FOR THE MOST UP-TO-DATE PRODUCT INFORMATION.