Compare our savings products’ rates

Sallie Mae deposit products

Savings and money market accounts

Product name

Minimum balance to open account

Balance required to obtain APY

Interest rate

Annual Percentage Yield (APY)
Money Market Account 

Open an account

$0

$0

3.83%

3.90% APYfootnote 1
SmartyPig Account

Open an account

$0

$0.01 – $2,500

3.83%

3.90% APYfootnote 2

$0

$2,500.01 – $10,000

3.83%

3.90% APYfootnote 2

$0

$10,000.01 – $50,000

3.83%

3.90% APYfootnote 2

$0

$50,000.01+

3.83%

3.90% APYfootnote 2
High-Yield Savings Account

Open an account

$0

$0

3.83%

3.90% APYfootnote 3

Certificates of deposit (CDs)
Open a CD

 

Term

Minimum balance to open account

Balance required to obtain APY

Interest rate

Annual Percentage Yield (APY)

6 months

$2,500

$2,500

4.07%

4.15% APYfootnote 4

9 months

$2,500

$2,500

4.11%

4.20% APYfootnote 4

11 months

$2,500

$2,500

4.16%

4.25% APYfootnote 4

12 months

$2,500

$2,500

4.31%

4.40% APYfootnote 4

13 months

$2,500

$2,500

4.31%

4.40% APYfootnote 4

15 months

$2,500

$2,500

4.31%

4.40% APYfootnote 4

18 months

$2,500

$2,500

3.73%

3.80% APYfootnote 4

24 months

$2,500

$2,500

3.92%

4.00% APYfootnote 4

30 months

$2,500

$2,500

3.63%

3.70% APYfootnote 4

36 months

$2,500

$2,500

3.34%

3.40% APYfootnote 4

60 months

$2,500

$2,500

3.73%

3.80% APYfootnote 4

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

footnote 1. Advertised Interest Rate  and Annual Percentage Yield (APY) for the Sallie Mae Money Market Account are variable and may change after account opening, applies to personal accounts only, and are accurate as of 05/14/2025. Fees could reduce earnings. Please refer to the Account Terms and Conditions Agreement for details. 

footnote 2. Advertised Interest Rates and Annual Percentage Yields (APY) for the SmartyPig Account are variable and may change after account opening, are based on your aggregate account balance on all your SmartyPig goals (including your Primary Account) plus your month to date accrued interest which may not have yet posted to your account, apply to personal accounts only, and are accurate as of 05/14/2025. The ongoing APYs and Interest Rates associated with different account balances are: If your daily balance is more than $0 but $2,500 or less the interest rate paid on the entire balance in your account will be 3.83% with an annual percentage yield of 3.90%. If your daily balance is more than $2,500 but $10,000 or less the interest rate paid on the entire balance in your account will be 3.83% with an annual percentage yield of 3.90%. If your daily balance is more than $10,000 but $50,000 or less the interest rate paid on the entire balance in your account will be 3.83% with an annual percentage yield of 3.90%. If your daily balance is more than $50,000 the interest rate paid on the entire balance in your account will be 3.83% with an annual percentage yield of 3.90%. Please refer to the SmartyPig Account Terms and Conditions Agreement for details.

footnote 3. Advertised Interest Rate  and Annual Percentage Yield (APY) for the Sallie Mae High-Yield Savings Account are variable and may change after account opening, applies to personal accounts only, and are accurate as of 05/14/2025. Fees could reduce earnings. Please refer to the Account Terms and Conditions Agreement for details. 

footnote 4. Advertised Interest Rate and Annual Percentage Yield (APY) for Certificates of Deposit may change after maturity, applies to personal accounts only, and are accurate as of 05/14/2025. A penalty may be charged for early withdrawal. Fees could reduce earnings. Please refer to the Account Terms and Conditions Agreement for details.

footnote 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.