Sallie Mae Bank 2026 Review

Mika L.
Written by Mika L.
Financial Content Writer

Sallie Mae Bank4.5/5

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

Sallie Mae Bank shines for its 5-year CD, which offers a competitive 4.00% APY with daily compounding interest. This account is perfect for savers who want to lock in a rate for the long haul while enjoying the benefits of compounding.

Pros:

  • Daily interest compounding
  • Long-term investment

Cons:

  • High early withdrawal penalty
  • No promotional rates

In summary, Sallie Mae Bank's 5-year CD is an excellent choice for those looking to secure a competitive 4.00% APY with the added benefit of daily compounding, making it ideal for long-term savers aiming to grow their investments steadily. With a minimum deposit of $2,500, it caters well to both new and experienced savers seeking reliable returns.

Frequently Asked Questions

Compare CD Rates

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

Provider ↕Rate ↓Term ↕Min Deposit
First National Bank of America4.30% APY5 years$1,000Learn more
Connexus Credit Union4.30% APY17 months$5,000Learn more
NASA Federal Credit Union4.20% APY49 months$10,000Learn more
Climate First Bank4.07% APY6 months$500Learn more
Popular Direct4.05% APY1 year$10,000Learn more
OMB Bank4.05% APY3 months$1,000Learn more
Sallie Mae Bank4.00% APY5 years$2,500Learn more
Newtek Bank4.00% APY6 months$2,500Learn more
LendingClub3.40% APY5 years$500Learn more
Wells Fargo1.50% APY1 year$2,500Learn more
Bank of America0.03% APY1 year$1,000Learn more

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