Sallie Mae, which provides federal and private student loans has just started offering retail banking products. Sallie Mae’s retail banking deposit products are being offered through Sallie Mae Bank. The banking products include three different certificates of deposit terms and an online savings account.

Looking for the highest Rates? Search our CD rate tables: Highest CD Rates.

The CD rates might not be the best CD rates around but they are very competitive. Here is a list of the current Sallie Mae CD rates and CD yields:

Sallie Mae Bank CD Rates and CD Yields

• 12 month rate 1.49% – APY 1.50%.
• 36 month rate 2.18% – APY 2.20%
• 60 month rate 2.96% – APY 3.00%

Sallie Bank Bank CD Account Details

• CD Interest earned is compounded daily and credit to the account monthly.
• Early withdrawal penalty is 3 months of simple interest for certificate of deposit accounts 12 months or less.
• CD accounts greater than 12 months have an early withdrawal penalty of 6 months simple interest.
• Certificate of deposit accounts are insured by the FDIC.
• Sallie Mae’s FDIC Cert number is 58177.

Sallie Mae CD Rates: Sallie Mae CD Rates