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High-Yield Savings Account

g Benefits

Reach your goals faster. Open a High-Yield Savings Account and start earning more on your savings.

What you get:

  • 1.98% Interest Rate1
  • A rate that's 10X the national average2
  • No minimum balance or monthly fees
  • FDIC-insured peace of mind
  • Easy online account management, 24 hours a day

Maximize your savings. It takes just minutes to open an account online.

g Rates, terms and fees

Rates & interest

  • Rates on all balances: 2.00% Annual Percentage Yield1 (APY)
    1.98% Interest Rate1
  • Interest:   Compounded daily, paid monthly

Balances & fees

  • Minimum balance:  None
  • Monthly fees:   None

Withdrawals

  • Electronic Transfers:  Free
  • Maximum Withdrawals: Six per month4

 

 
 

Sallie Mae Bank Customers

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Have questions?

Get help deciding which account is right for you.
Call us at (877) 346-2756(877) 346-2756

Browse Savings and CDs FAQs

 
 

1 Advertised Interest Rate and Annual Percentage Yield for the High-Yield Savings Account are variable and may change after opening, apply to personal accounts only, and are accurate as of . Fees could reduce earnings. Please refer to the Account Terms and Conditions Agreement for details.

2 National statement savings rate courtesy of Bankrate.com's 2015 Passbook & Statement Savings Study, as of 10/07/2015. The terms and conditions of the Sallie Mae Money Market account may be different than the savings accounts compiled by the study.

3 Based on a December 8, 2015, review of competitor rates and APYs.

4 Federal Regulation D limits certain types of withdrawal and transfer transactions you can make from your Sallie Mae Savings or Money Market accounts to a maximum of six per monthly statement period per account. An Excessive Transaction Fee applies for each transaction that exceeds the limit, but no more than seven Excessive Transaction Fees shall ultimately be charged per monthly statement period. Should you make more than seven Excessive Transactions during a monthly statement period, the additional Excessive Transaction Fees will be credited to you during the following monthly statement period. Please refer to the Account Terms and Conditions Agreement for details.

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

Sallie Mae, Sallie Mae Bank and the Sallie Mae logo are service marks or registered service marks of Sallie Mae Bank or its subsidiaries.

Upromise and the Upromise logo are registered service marks of Upromise, Inc.

WE RESERVE 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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