Save more in a high-yield savings account

Earn 7X more than the national average on every dollar with a competitive rate and no monthly fees.footnote 1

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Sallie Mae® High-Yield Savings Account

3.85% APYfootnote 2

What is a high-yield savings account?

A high-yield savings account (HYSA) offers a higher interest rate than a traditional savings account. This means your money can grow faster over time due to the higher Annual Percentage Yield (APY).

A Sallie Mae® High-Yield Savings Account is known for its competitive rates and flexibility. It’s a smart way to grow your emergency or long-term savings.

Let your goals grow with a high-yield savings account

Earn at a higher rate

Reach your goals faster with a competitive APY & no monthly fees.

FDIC-insured

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

No monthly fees

There are no monthly maintenance fees, helping you save more.

Access anytime, anywhere

Manage your accounts online & in the Sallie Mae® mobile app.

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.

Stay on top of your savings

Download the Sallie Mae® mobile app to manage your savings anytime, anywhere.
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


Check out more ways to save

Sallie Mae® Certificates of Deposit

Up to 4.00% APYfootnote 3

Lock in a fixed rate and APY for guaranteed returns.

*Rate is determined by the term length you choose.

  • Multiple CD terms to choose from
  • $2,500 minimum deposit

Open an account
Learn more
Sallie Mae® Money Market Account

3.65% APYfootnote 4

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% APYfootnote 5

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. National Average APYs are based on specific product types of top 50 U.S. banks (ranked by total deposits) provided by Curinos LLC through 07/01/2025. High Yield Savings Rates: Average APYs are based on High Yield Savings Accounts of $10,000. Curinos data is obtained from public sources; accuracy and completeness is not guaranteed. Curinos is not liable for reliance on the data.

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. 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 4. 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 5. 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 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. 

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