Sallie Mae Bank Rates —
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Sallie Mae Bank — best known for student loans — also runs a full online deposit business that we track for YourBestSavings. It is FDIC insured, charges no monthly fees, and offers a High-Yield Savings account, the goal-based SmartyPig account, a Money Market with check-writing, and a broad CD ladder. Below is every Sallie Mae account we monitor, ranked by the ByTheMath score and verified daily against its published rates. We rank by the math; no institution pays to appear or move up.
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What stands out at Sallie Mae
Sallie Mae’s deposit lineup is aimed squarely at savers. Its High-Yield Savings and check-writing Money Market cover everyday saving, while its CD ladder — with the 13-, 15-, and 18-month terms among the most competitive — rewards those who can lock money up ($2,500 CD minimum). SmartyPig is a goal-based savings account for earmarking money toward specific targets. Sallie Mae also offers a 14-month No-Penalty CD through the Raisin marketplace with just a $1 minimum, for savers who want flexibility.
How we rank these accounts
Every account is scored by the ByTheMath method — APY weighted most heavily, then accessibility and flexibility — and grouped by type below, best first. Effective APY reflects the rate you would actually earn after any balance caps or conditions, which is why a capped or conditional rate does not automatically outrank a straightforward one. No commission ever changes the order; see our affiliate disclosure and methodology.
Fees, access & insurance
Sallie Mae Bank is a member FDIC bank; deposits are insured up to $250,000 per depositor, per ownership category, and are entirely separate from any student-loan account you may have. There are no monthly maintenance fees on its deposit accounts, which are managed online and by phone. Use the insurance calculator to check coverage across accounts.
Yes. Sallie Mae Bank is a member FDIC bank with deposits protected up to $250,000 per depositor. Your deposits are separate from any Sallie Mae student loan.
SmartyPig is Sallie Mae’s goal-based savings account — it lets you set up separate savings goals and track progress toward each, while earning a competitive rate.
Yes. Unlike many online savings accounts, Sallie Mae’s Money Market account offers check-writing, which can make larger or occasional payments easier.
Daily. Each account shows the date its APY was last verified against Sallie Mae’s own rate page. Promotional CD rates in particular can change without notice, so we re-check every day.
See where its accounts land against the whole market on our high-yield savings, CD rate, and money market rankings.