Grow your savings with our certificates of deposit

Q: What is a CD account?

A Sallie Mae® Certificate of Deposit is a savings product where you select a specific time period, or term, to deposit funds and grow your savings with a fixed interest rate that is typically higher than a traditional savings account. The minimum deposit and balance is $2,500, and your returns are guaranteed.

Q: What are the benefits of a Sallie Mae CD?

You have the freedom of choice when it comes to the term length of your CD, and you’ll get a competitive fixed interest rate to help you earn more on your savings. With a fixed rate, your returns are guaranteed. Your CD is also safe with FDIC insurance.

Q: How do I fund my Sallie Mae CD?

To open your CD, you’ll start with a one-time deposit of at least $2,500. Then, you’ll connect an external bank account to transfer funds electronically to your CD.

Q: How will my Sallie Mae CD earn money?

Your CD earns money as interest accrues on your savings. Interest continues to grow every day, and the compounded interest gets credited to your CD monthly.

Q: Where can I learn more about CD?

Learn more about Sallie Mae Certificates of Deposit here.

Pick your term. Lock in your rate. Enjoy guaranteed returns.

Open an account

Already have an account? Log in

11-month CD

4.00% ^{APY^{footnote 1}}

Open an account

60-month CD

4.00% ^{APY^{footnote 1}}

Open an account

Your savings, your terms

Lock in a CD rate that works for you.

11-month CD

4.00% APY^{footnote 1}

Open an account

15-month CD

3.95% APY^{footnote 1}

Open an account

60-month CD

4.00% APY^{footnote 1}

Open an account

What is a certificate of deposit

A Certificate of Deposit (CD) is a safe way to grow your money at a fixed interest rate for a set time, giving you guaranteed returns. Sallie Mae^® Certificates of Deposit offer competitive rates and flexible terms ranging from 6 to 60 months, so you can choose the option that fits your savings goals.

A certificate of deposit that helps you save more

Your returns—guaranteed

Pick a term and lock in a rate for guaranteed returns.

FDIC-insured

Relax knowing that your deposits are protected by the FDIC up to the legal coverage limit.

$2,500 minimum balance

Maintain a minimum balance of $2,500 in your CD to keep earning interest.

Automatic renewal

Once your CD matures, we’ll make sure it keeps earning interest.

Watch your money grow with these CD rates

Choose a term, secure a competitive rate, and watch your money grow.

Open an account

Term	APY1
6 months	3.80% APY
9 months	3.70% APY
11 months	4.00% APY
12 months	3.80% APY
13 months	3.95% APY
15 months	3.95% APY
18 months	3.70% APY
24 months	3.75% APY
30 months	3.90% APY
36 months	3.95% APY
60 months	4.00% APY
Show More

Sallie Mae named one of the best CDs for 2025.

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

Save stress free. You’re FDIC-insured.

Your deposits are protected—up to $250,000 in coverage for each depositor, insured bank, and ownership category.
You’re covered automatically—no action needed.
All our savings products are FDIC-insured.
FDIC insurance covers up to $250,000 per co‑owner for qualifying joint accounts at the same bank. Adding a joint owner can increase total coverage to as much as $500,000, provided the account meets FDIC joint‑ownership requirements.

How to get
started

1. Tell us about yourself

2. Link your funding source

3. Watch your savings grow!

Open an account

FAQs

Have other questions? We’re here to help.
1-877-346-2756

What is a CD account?

What are the benefits of a Sallie Mae CD?

How do I fund my Sallie Mae CD?

Is my money safe with a Sallie Mae CD?

Yes! All Sallie Mae savings products, including the Certificates of Deposit, are FDIC-insured. Funds deposited in an Account—and any other account(s) you hold at Sallie Mae Bank—are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to the applicable coverage limit. The amount of insurance coverage available to you depends on the number of Accounts you have with us and the ownership of those Accounts. For additional information, click here.

Are there any monthly maintenance fees for a Certificate of Deposit?

There are no monthly maintenance fees associated with a Sallie Mae Certificate of Deposit, but you will be charged a penalty if you make a withdrawal before your CD matures. If your CD has a maturity of twelve (12) months or less, the penalty we impose will equal ninety (90) days’ simple interest on the amount withdrawn subject to penalty. If your CD has a maturity greater than twelve (12) months, the penalty we impose will equal one hundred eighty (180) days' simple interest on the amount withdrawn subject to penalty. If the amount required to be forfeited is greater than the interest earned or paid on your CD, we will deduct the difference from principal. In certain circumstances, such as the death or incompetence of an Accountholder, the law permits, and in some cases requires, the waiver of the early withdrawal penalty.

How will my Sallie Mae CD earn money?

What happens to a Sallie Mae CD after it matures?

When your CD matures, you’ll have a 10-day grace period to choose whether you’d like to withdraw your savings without penalty, place your funds into a new CD, transfer the money to a new account, or make any other personal financial decisions. If you don’t make any choices before the grace period is up, your CD will automatically renew at its current rate and term.

Where can I learn more about CDs?

Check out more ways to save

Sallie Mae^® High-Yield Savings Account

3.85% APY^{footnote 2}

Save more with a competitive interest rate and no monthly maintenance fees. (Compounded daily, paid monthly)

Access your money anytime
No minimum deposit & free transfers

Open an account

Learn more

Sallie Mae^® Money Market Account

3.65% APY^{footnote 3}

Save faster with a higher interest rate and no monthly maintenance fees. (Compounded daily, paid monthly)

Access your money & write checks
No minimum deposit & free transfers

Open an account

Learn more

SmartyPig^® Savings Account

Up to 3.60% APY^{footnote 4}

Track goals and save for them with a higher interest rate than a traditional savings account. (Compounded daily, paid monthly)

Stay on top of saving with goal trackers
No monthly maintenance fees

Open an account

Learn more

footnote 1. 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 03/24/2026. A penalty may be charged for early withdrawal. Fees could reduce earnings. Please refer to the Account Terms and Conditions Agreement for details.

footnote 2. Advertised Annual Percentage Yield (APY) for the Sallie Mae High-Yield Savings Account is variable and may change after account opening, applies to personal accounts only, and is accurate as of 03/24/2026. Fees could reduce earnings. Please refer to the Account Terms and Conditions Agreement for details.

footnote 3. 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 03/24/2026. Fees could reduce earnings. Please refer to the Account Terms and Conditions Agreement for details.

footnote 4. 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 03/24/2026. 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 3.54% with an annual percentage yield of 3.60%. 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 3.54% with an annual percentage yield of 3.60%. 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 3.54% with an annual percentage yield of 3.60%. If your daily balance is more than $50,000 the interest rate paid on the entire balance in your account will be 3.54% with an annual percentage yield of 3.60%. Please refer to the SmartyPig Account Terms and Conditions Agreement for details.

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

footnote Sallie Mae compensates partners for their referral of banking customers.

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.