Rate (APY)
4.30% APY
Term
1 year
Minimum Deposit
$2,500
Promotion
N/A
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Rate (APY):
4.30% APY
Term:
1 year
Promotion:
N/A
Minimum Deposit:
$2,500
Sallie Mae offers a 4.30% APY on its 1-year CD, which is appealing for those looking for a reputable institution, although the minimum deposit of $2,500 may be a barrier for some savers.
Pros:
- Good APY
- Reputable institution
Cons:
- Higher minimum deposit than some competitors
Overall, Sallie Mae's 1-year CD at a competitive 4.30% APY is an excellent option for those with a higher initial deposit who value stability and a trusted financial institution. However, potential investors should consider the minimum deposit requirement before proceeding.