Sallie Mae CD Rates

Sallie Mae, which provides federal and private student loans, has just started offering certificate of deposits and a savings account. Sallie Mae is currently offering three different certificate of deposit terms.

One year CD rates at Sallie Mae have a current rate of 1.49% with a 1.50% annual percentage yield (APY). Three year CD rates are currently at 2.18% with an APY of 2.20%. Five year CD rates are at 2.96% with an APY of 3.00%.

Looking for the best CD Rates? Search our CD rate tables: Best CD Rates

The CD rates and CD yields Sallie is offering are not the best CD rates around but they are higher than the national average rates.  The current national average 12 month CD rate is at 0.98%. 36 month CD rates are averaging 1.64%. 60 month CD rates are averaging 2.34%.

CD Account Information

Interest is compounded daily and credited to the account monthly for both certificate of deposit accounts and savings accounts. Early withdrawal penalties are 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. Simple interest is interest earned on principal only.

Certificate of deposit accounts and savings accounts are insured by the FDIC. Sallie Mae’s FDIC Cert number is 58177.

Current Sallie Mae CD Rates: Sallie Mae CD Rates