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Banking

Introducing three 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 funds, no minimums, and a top rate5
  • 0.90% APY2
  • No minimum balance, minimum deposit, or monthly maintenance fee
  • Check-Writing5

Open Account  

Learn more


High-Yield Savings Account

  • Competitive rates and 10% annual Upromise® rewards match6
  • 0.80% APY3
  • No minimum balance, minimum deposit, or monthly maintenance fee
  • 10% annual match on Upromise rewards6

Open Account  

Learn more


Certificates of Deposit

  • A great rate and a guaranteed return
  • Rates up to 2.10% APY4
  • No monthly maintenance fee, $2,500 minimum deposit
  • 12 month, 36 month, and 60 month terms available

Open Account  

Learn more


FDIC
 
 

Sallie Mae Bank Customers

Manage your account

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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 June 23, 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 To be eligible for the 10% annual match on your Upromise earnings from Upromise, you must link your High Yield Savings Account (HYSA) to your Upromise Account and, within 90 days of opening your HYSA, either: 1. Set up an Automatic Savings Plan with a monthly deposit of $25 or more ("ASP"), or 2. Fund your HYSA account with $5,000 or more. Should you fail to meet the requirements during a calendar year, you will have the opportunity to become eligible for the 10% match in additional years if, by January 1, you (a) link your HYSA to your Upromise Account, and (b), you either meet the $5,000 minimum funding requirement beginning January 1, or you meet the ASP requirement each month of the year. If you qualify for the 10% match based on having the minimum balance of $5,000 in your HYSA, you must maintain that minimum balance in your HYSA for the duration of the calendar year for which your earnings will be matched. Once you complete the steps above, Upromise will match 10% of your Upromise earnings posted as ”funded” to your Upromise Account during each calendar year. Your match will be deposited into your HYSA in February in the year after you have linked and funded your account as described above, provided that both accounts remain active and are in good standing at time of transfer. Visit the FAQs to learn more. Upromise may change or terminate the 10% annual match offer 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.

Deposit products 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.