GOBankingRates.com Lists Sallie Mae Bank as One of the Top 10
Banks for CD Accounts
NEWARK, Del.–(BUSINESS WIRE)–For the second year in a row, Sallie Mae Bank – the retail banking arm
of Sallie Mae, the nation’s saving, planning, and paying for college
company – has been ranked among the “Best
Banks of 2016” by GOBankingRates.com,
a leading portal for personal finance and consumer banking information.
This year, Sallie Mae Bank is one of the 10 “Best
Banks of 2016 for CD Accounts.”
“Savers looking to grow their money can find some of the most
competitive CD rates at Sallie Mae Bank,” said Cameron Huddleston,
personal finance expert and Life + Money columnist for GOBankingRates.
“For that reason, the bank’s CD products are among the best in the U.S.
GOBankingRates evaluated 12-month certificates of deposit (CDs) and
five-year CDs on minimum- deposit-to-open requirements and annual
percentage yields (APY). Sallie Mae Bank’s CDs feature a minimum deposit
of $2,500. The 12-month
CD has a 1.25 percent APY and the 60-month
CD has a 2.10 percent APY. In addition, Sallie Mae Bank’s 36-month
CD offers a 1.60 percent APY.
Sallie Mae Bank also offers a money
market deposit account with a current 0.90 percent APY, 11 times the
Bankrate.com national average rate. Sallie Mae Bank’s competitive high-yield
savings account offers a current rate of 0.80 percent APY, 10 times
the national average. Neither account requires a minimum balance,
minimum deposit, or monthly maintenance fee.
In addition, the company recently introduced Upromise
GoalSaver, a free, no-fee, FDIC-insured online savings account that
makes it easy for families to save for college and other goals all in
one place. Upromise GoalSaver rewards account holders with a current
competitive 0.85 percent APY, available annual cash-back bonuses, and
cash-back rewards through Upromise
by Sallie Mae.
“We are committed to helping our customers save, plan, and pay for
college with financial products and services that are responsible,
sound, and competitively priced,” said Paul Thome, president, Sallie Mae
Bank. “We are proud to be recognized as one of the 10 best banks in the
U.S. for CD accounts – and for our efforts to help students and families
make college happen.”
Sallie Mae Bank is a subsidiary of SLM Corporation, commonly known as
Sallie Mae. All of Sallie Mae Bank’s savings products are FDIC-insured.
For more information or to open an account, visit SallieMae.com/banking.
is a leading portal for personal finance and consumer banking
information, offering visitors the latest on everything from finding a
good interest rate to strategies for saving money, investing for
retirement, and getting a loan. Its editors are regularly featured on
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specializes in connecting consumers with the best financial institutions
and banking products nationwide.
About Sallie Mae
Sallie Mae (NASDAQ: SLM) is the nation’s saving, planning, and paying
for college company. Whether college is a long way off or just around
the corner, Sallie Mae offers products that promote responsible personal
finance, including private education loans, Upromise rewards,
scholarship search, college financial planning tools, and online retail
banking. Learn more at SallieMae.com.
Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are
not sponsored by or agencies of the United States of America.
Ellen J. Roberts, 302-451-0428