Sallie Mae CD Rates
Sallie Mae is offering really good short-term and long-term CD rates. Current 12-month CD rates are at 4.90%, 18-month CD rates are at 5.00% and 6-month CD rates are at 4.00%. Besides those three certificates of deposit, Sallie Mae is also offering several other CD accounts, a complete list of rates is below. The minimum opening deposit for all CD accounts at Sallie Mae is $2,500.
Sallie Mae is a well-known company that offers student loans and a range of banking products, including CDs, savings accounts and money market accounts. One thing to keep in mind about Sallie Mae CDs, is that the interest rates on Sallie Mae's CDs are subject to change at any time, and the rates listed below might have changed.
Obviously when you open a CD account you locked in that rate, unless you decide to withdrawal your funds before the CD matures, then you play an early withdrawal penalty, lowering the rate. It's always a good idea to check directly with Sallie Mae, on their website or speak with a representative to confirm the current rates before opening a CD account.
Current Sallie Mae CD Rates
A little history on Salle Mae:
Sallie Mae, also known as the Student Loan Marketing Association, is a publicly traded company that provides education loans and related services to students and families. The company was originally founded in 1972 as a government-sponsored enterprise (GSE) by the U.S. Congress with the purpose of providing federal education loans to students. The name "Sallie Mae" was originally an acronym for "Student Loan Marketing Association."
Sallie Mae operated as a GSE until 2004, when it was privatized and became a fully independent, publicly traded company. In 2014, the company split into two separate entities: Sallie Mae Bank, which provides private education loans, and Navient, which services and collects on both federal and private education loans.
Sallie Mae's CDs offer competitive interest rates and a range of terms to choose from. While there are some penalties associated with early withdrawals and automatic renewals, these terms are fairly standard for CDs. Sallie Mae's CDs are worth considering because of the good rates and all the different CD terms available. To read more about Sallie Mae CDs, go to https://www.salliemae.com/banking/rate-table/.