bank rates

Check Out These Attractive CD Rates From Sallie Mae

If you’re shopping for a CD, short-term or long, Sallie Mae is offering some great deals.

But that should come as no suprise.

Sallie Mae is often near the head of the pack when it comes to showcasing the best CD rates.

And while it’s not currently the leader on any single term, its rates are highly competitive.

It’s nice to see banks competing like this. We’re finally getting back to a place where returns are valuable for savers.

But we’re not quite there just yet.

The average 1-year CD pays just 0.77% APY, while the average 5-year CD pays just 1.33% APY.

Fortunately, there are bunch of banks paying around two or three times those average rates, including Sallie Mae.

Remember, it’s always important to compare the best CD rates before you purchase.

Here are Sallie Mae’s CD Rates:

Sallie Mae CD Rates
Term Rate Minimum
1-year 2.65% APY $2,500
2-year 2.80% APY $2,500
3-year 2.95% APY $2,500
5-year 2.90% APY $2,500

Requirements to open

You can open up a Sallie Mae CD online. Those with a Social Security number and valid physical address are eligible.

Sallie Mae Bank CDs have a ten calendar day grace period, which begins on the date of maturity.

The future of CDs

While the Fed rate hikes have pushed some banks to increase their rates, not all will be so quick to react. That makes it crucial to keep an eye out for CDs at banks like Sallie Mae that are already on the rise.

Make sure to check out the best CD rates daily.

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