Sallie Mae, the Sallie Mae logo, and other Sallie Mae names and logos are service marks or registered service marks of Sallie Mae Bank.

Ratings are rounded to the nearest half-star.Alice Holbrook has covered banking for NerdWallet since 2017.
It also offers certificates of deposits. Sallie Mae Bank is an FDIC-insured bank headquartered in Salt Lake City, Utah. Our opinions are our own.No minimum opening deposit on savings or money market accounts.NerdWallet’s overall ratings for banks and credit unions are weighted averages of several categories: checking, savings, certificates of deposit or credit union share certificates, banking experience and overdraft fees.

Neither the money market nor the high-yield savings account has a minimum deposit to open or earn interest.You can only move money into your savings account with an electronic transfer or a check, so you need at least one additional account at another institution to move money around.Sallie Mae Bank offers CDs in a variety of term lengths, from six months to five years. All financial products, shopping products and services are presented without warranty. Neither the money market nor the high-yield savings account has a minimum deposit to open or earn interest.You can only move money into your savings account with an electronic transfer or a check, so you need at least one additional account at another institution to move money around.Sallie Mae Bank offers CDs in a variety of term lengths, from six months to five years. The stars represent ratings from poor (one star) to excellent (five stars). Factors we consider, depending on the category, include rates and fees, ATM and branch access, account features and limits, user-facing technology, customer service and innovation.

SLM Corporation and its subsidiaries, including Sallie Mae Bank are not sponsored by or agencies of the United States of America.

The SLM Corporation (the formal name for Sallie Mae) is a publicly traded (NASDAQ: SLM) education finance corporation with a plethora of divisions and subsidiaries that offer an array of debt management services and business products.
Sallie Mae Bank is a financial institution affiliated with Sallie Mae, the company widely known for its student loan business. The company doesn’t offer live chat or other service methods, and neither of Sallie Mae Bank’s apps cracks 2.5 stars in the Android or iOS app stores.Sallie Mae Bank offers multiple savings options, including a high-yield savings account, a money market account and SmartyPig, an interest-paying account with goal tracking. However, this does not influence our evaluations. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion® directly. You can find online banks with lower or even no minimum deposit requirements.As with most online banks, you shouldn’t expect to do your banking at a branch with Sallie Mae — it just has one, in Salt Lake City.Sallie Mae’s products are all easy to find on its website and rates are clearly spelled out, but to get in touch with Sallie Mae, you’ll likely have to call, and customer service hours are limited to weekdays. This may influence which products we write about and where and how the product appears on a page. Sallie Mae Bank offers multiple savings options, including a high-yield savings account, a money market account and SmartyPig, an interest-paying account with goal tracking. Power for providing “An Outstanding Customer Service Experience” for phone support. The company doesn’t offer live chat or other service methods, and neither of Sallie Mae Bank’s apps cracks 2.5 stars in the Android or iOS app stores.NerdWallet strives to keep its information accurate and up to date. Beginning March 24th, you can speak with an agent Monday - Friday from 9 a.m. to 6 p.m. ET.Use this free, online piggy bank to save for long- and short-term goals.Grow your money faster with a higher interest rate and no monthly fees.Earn a guaranteed rate of interest over a fixed period of time.Earn interest at a higher rate than a traditional savings account, with no monthly fees. Sallie Mae has been recognized by J.D.

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