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High-Yield Savings Account

g Benefits

Reach your goals faster. Open a High-Yield Savings Account and start earning more on your savings.

What you get:

  • 0.80% Interest Rate1
  • A rate that's 8X the national average2
  • No minimum balance or monthly fees
  • FDIC-insured peace of mind
  • 10% annual match on Upromise® earnings4
  • Easy online account management, 24 hours a day

Maximize your savings. It takes just minutes to open an account online.

g Rates, terms and fees

Rates & interest

  • Rates on all balances: 0.80% Annual Percentage Yield1 (APY)
    0.80% Interest Rate1
  • Interest:   Compounded daily, paid monthly

Balances & fees

  • Minimum balance:  None
  • Monthly fees:   None


  • Electronic Transfers:  Free
  • Maximum Withdrawals: Six per month6

g Rewards

Save even more with Upromise

  • Earn a 10% annual match on your Upromise earnings with the High-Yield Savings Account4
  • Turn your everyday purchases into more rewards for your savings
  • Invite your friends and family to join Upromise and contribute to your earnings

You can use your Upromise earnings several ways:

  • Transfer them to your High-Yield Savings Account
  • Request a check
  • Help pay down your eligible Sallie Mae student loans



Open Account  


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

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Earn cash back for college every time you use the Upromise MasterCard®.

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See Terms and Conditions


1 Advertised Interest Rate and Annual Percentage Yield for the High-Yield Savings 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.

2 National statement savings rate courtesy of's 2015 Passbook & Statement Savings Study, as of 4/22/2015. The terms and conditions of the Sallie Mae Money Market account may be different than the savings accounts compiled by the study.

3 Based on a August 20, 2015, review of competitor rates and APYs.

4 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.

5 Subject to $10 minimum monthly transfer amount.

6 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.

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.