Available nationwide, Sallie Mae Bank High-Yield Savings is offering a competitive 4.20% APY Rate, which is 20x the national average. Continue reading below to learn everything you need to know about Sallie Mae Bank.
Update 10/4/24: The rate has decreased to 4.20% APY (from 4.55%). We recommend our top picks – the Western Alliance savings account or the M1 Finance Cash account.
About Sallie Mae Bank High-Yield Savings
Sallie Mae Bank was created in 1972 and is currently headquartered in Murray, Utah. They maintain their customers’ deposit accounts through its online banking system.
Sallie Mae Bank online banking provides the only way for customers to access their deposit accounts. The web-based platform gives account holders the ability to perform functions like direct deposit, bill pay, and fund transfers.
| Balance Requirement | APY Rate |
| Any Balance | 4.20% APY |
Sallie Mae Bank High-Yield Savings Rate
To earn Sallie Mae Bank’s competitive rate, you don’t need a minimum balance. Just open the account with any amount and you’ll get to enjoy earning a high rate on all balances.
- Account Type: High-Yield Savings
- Interest Rate: 4.20% APY
- Availability: Nationwide
- Minimum Balance: None
- Maximum Balance: None
- Credit Inquiry: Soft pull
- Opening Deposit: None
- Monthly Fee: None listed
- Early Termination Fee: None
(FDIC Insured)
Sallie Mae Bank ACH Capabilities & Limits
| ACH Type | Speed | Daily $ Limit | Monthly $ Limit | Notes |
| Push | ? | ? | ? | None |
| Pull | ? | ? | ? | None |
Editor’s Note: Help us with the table above in the comment section if you have experience with Sallie Mae Bank’s ACH capabilities.
How to Earn Sallie Mae Bank Rate
- Apply and sign up online. You must provide all of your personal credentials.
- Open a High-Yield Savings Account
- Earn the 4.20% rate and gain access with all of their features.
Why You Should Sign Up For This Account
- No minimum balance or monthly fees
- Free transfers with a maximum of 6 withdrawals per month
- Easy online account management
- APY compounded daily and paid monthly
- FDIC-insured for your peace of mind
Bottom Line
Check out Sallie Mae Bank and open a High-Yield Savings account with this rate. The fact that you can earn a high rate on any balance makes this Savings Account worth looking into. Let us know about your experience with this bank and comment below.
Interested in Bank Bonuses? See our favorite banks including HSBC Bank, Chase Bank, Huntington Bank, Discover Bank, TD Bank, or CIT Bank.
For more bank offers, see the complete list of Best Bank Rates!
Check back often to see the latest info on Sallie Mae Bank High-Yield Savings Account.
please tell me how to get into my high yield savings account. I opened it a few months ago and haven’t received any correspondence. I probably need to change my password.
Spoke to CSR, they do a soft pull via chexsystems.