Coming soon—a new online experience. Beginning June 3, 2019, you’ll see changes that will make managing your Sallie Mae Bank accounts easier than ever. For a sneak peek of what’s ahead and FAQs, visit our new site toolkit.

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With a money market account, you earn interest at a higher rate than with a traditional savings account. Plus, you’ll still have access to your money and can write checks from the account.

Competitive interest rate

23x the national average

2.30%APY (Annual Percentage Yield)

Compounded daily, paid monthly

More features of our Money Market Account

No minimum balance and no monthly maintenance fees

Write checks from your account

Free transfers and maximum of six withdrawals per month

FDIC-insured for your peace of mind

Easy online account management



Sallie Mae named one of the best online banks for 2019

GOBankingRates named Sallie Mae as one of the top online banks, recognizing its products' high interest rate and no monthly fees.

Have questions about our Money Market Account?

Call us at 877-346-2756

Our normal business hours are 8 a.m. to 8 p.m. ET Monday through Friday.

Federal Regulation D limits certain types of withdrawal and transfer transactions you can make from your Sallie Mae Money Market Account(s) 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, any 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.

Based on Bankrate.com's 2018 Passbook & Statement Savings Study, as of 11/14/2018. The terms and conditions of the Sallie Mae Money Market Account may be different than the savings accounts compiled by Bankrate.com.

Annual Percentage Yield (APY) for the Sallie Mae Money Market Account is variable and may change after account opening, applies to personal accounts only, and is accurate as of 04/15/2019. Fees could reduce earnings. Please refer to the Account Terms and Conditions Agreement for details.

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

SALLIE MAE RESERVES 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.