Sallie Mae Bank 2026 Review

Mika L.
Written by Mika L.
Financial Content Writer

Sallie Mae Bank4.6/5

Rate (APY)
4.00% APY
Term
5 years
Minimum Deposit
$2,500
Promotion
N/A
Apply Now →on Sallie Mae Bank's website

What sets Sallie Mae Bank apart is its strong reputation for customer service and competitive rates, offering a 4.00% APY on its 5-year CDs. Although the minimum deposit is higher at $2,500, the daily compounding of interest enhances the potential returns.

Pros:

  • FDIC-insured
  • Daily interest compounding

Cons:

  • Higher minimum deposit
  • Early withdrawal penalties apply

Sallie Mae Bank's 5-year CD is an excellent choice for those who can meet the $2,500 minimum deposit and are looking for a reliable provider with competitive rates and exceptional customer service. It is particularly well-suited for conservative investors seeking steady returns through daily compounded interest.

Frequently Asked Questions

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Summary of all rates from our cd rate pages. Click column headers to sort.

Provider ↕Rate ↓Term ↕Min Deposit
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Marcus by Goldman Sachs4.05% APY6 months$500Learn more
Popular Direct4.05% APY1 year$10,000Learn more
Sallie Mae Bank4.00% APY5 years$2,500Learn more
Bread Savings4.00% APY6 months$1,500Learn more
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