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Money Market

Competitive interest rates and no monthly maintenance fees —keep your money growing for the future.

What you get:

  • Check writing directly from your account3
  • No minimum balance and no monthly maintenance fees
  • Easy online account management, 24 hours a day
  • FDIC Insured for your peace of mind

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

Rates & Interest

Rates:

  • 1.05% one-year APY1
  • 1.19% interest rate for the first 180 days1

Interest: Compounded daily, paid monthly

Balances & fees

Minimum balance: None

Monthly maintenance fees: None

Withdrawals

Electronic transfers: Free

Withdrawals: Maximum of six withdrawals per month3

 

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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


A Fresh Financial Start for Your Wallet!

The Upromise MasterCard®: earn cash back on every purchase to help pay down your eligible student loans.

Upromise MasterCard

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See Terms and Conditions

 
 

1 Advertised Interest Rate and Annual Percentage Yield (APY) for the Money Market account are variable and may change after account opening (except as to the promotional rate which will remain effective for the full duration of the promotional term), apply to personal accounts only, and are accurate as of . The initial interest rate for your account is %. You will be paid this rate during the promotional term which is the first 180 days after your account is funded. After that time, the interest rate will revert to the non-promotional rate. Currently, that rate is %, but it is variable and subject to change. The blended APY on your account is %. We calculated the blended APY by using the promotional rate of % for the promotional period and the non-promotional rate of % for the remainder of the twelve months from the funding date of your account. Your initial deposit must be made at the time of account opening in order to receive the full duration of the promotional term. Fees could reduce earnings. Please refer to the Account Terms and Conditions Agreement for details.

2 National statement savings rate courtesy of Bankrate.com's 2015 Passbook & Statement Savings Study, as of 10/07/2015. The terms and conditions of the Sallie Mae Money Market account may be different than the savings accounts compiled by the study.

3 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, 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.

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.