Highest CD Rates Sallie Mae Bank CD Rates

Sallie Mae Bank, the banking arm of the student loan company Sallie Mae is advertisting some of the highest CD rates currently available from any bank or credit union. Sallie Mae Bank current 1 year bank CD rates are at 1.19% with a CD yield of 1.20%. The current national average 1 year CD rate as reported by MonitorBankRates.com is less than half that rate at 0.51%.

Find the best CD rates by searching our CD rates lists in your state or zip: Best CD Rates.


Sallie Mae's 1 year rate was tied with 1 year bank CD rates at Discover Bank but Discover recently lowered their rate to 1.14% with an APY of 1.15%, the same rate as 1 year CD rates at Ally Bank.

Sallie Mae is also advertising 36 month certificates of deposit with a current CD interest rate of 1.29% with a CD interest yield of 1.30%. 60 month certificate of deposit rates are advertised at 2.07% with a yield of 2.09%. 

Sallie Mae CD Account Benefits

  • Interest is compounded daily and credited to the account monthly.
  • Early withdrawal penalties are 3 months of simple interest for CD accounts 12 months or less.
  • Early withdrawal penalties for CD accounts greater than 12 months are 6 months simple interest.
  • Accounts are insured by the Federal Deposit Insurance Corporation for up to $250,000. FDIC Cert number is 58177.
  • No minimum balance
  • No monthly fees

Opening a CD account at Sallie Mae Bank is quick and easy. For a list of current CD rates and to open an account go to: Sallie Mae CD Account Application.

Author: Jason P. Jones
August 26th, 2011

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