SallieMae CD Rates

SallieMae CD Rates SallieMae, who is traditionally known for their student loans, have some new and very attractive certificate of deposits.

With products that have no minimum deposit and no monthly fees it makes getting into a SallieMae CD pretty easy to do.  The CDs are FDIC insured and SallieMae claims rates as hi as 3.0 apy.

Being new into the online bank retail space, including CDs and Savings Accounts (see SallieMae Savings Accounts here), it appears SallieMae is marketing aggressive rates to get clients.

Here is a quick and easy to read break down of the CD Rates and Guidelines at SallieMae:

  • No Monthly Charges
  • No Minimum Deposit
  • No Hidden Charges
  • 12 month CD at 1.50% APY
  • 3 Year CD at 2.20% APY
  • 5 Year CD at 3.00% APY
  • FDIC Insured

A word from SallieMae, “We have a CD term and rate that’s right for you and your goals. It’s simple to start and even easier to earn more because the returns are guaranteed! Open your account today.”

SallieMae Savings Accounts

SallieMae CD RatesSallieMae, typically not your retail banking option, now has some very attractive savings accounts being offered.

Being primarily a student loan lender, SallieMae is now branching out and offering savings accounts with these features.

  • No Minimum Balance
  • No Monthly Fees
  • Daily Compounded Interest
  • FDIC Insured
  • 1.40% apy

Their leap into retail online banking does not stop with just savings accounts. They are offering certificate of deposits with some pretty competitive rates. See Sallie Mae CD Rates for more on that.

SallieMae claims their High-Yield Savings Account delivers an Annual Percentage Yield (APY) that’s ‘6x the national average’ (that according to bankrates 2010 Passbook & Statement Savings Study, as of 4/21/2010.) Not to shabby for a newcomer.

So go ahead and see what SallieMae can do for you.