Sallie Mae Bank: Savings Account & Rates
Mission: Banksparency aims to make Sallie Mae Bank's savings account transparent and comparable to the market.
Savings Overview
High-Yield Savings Account
| Min. Deposit | $0 |
| Min. Balance | $0 |
| Maintenance Fee | $0 |
Market Reality Check
This bank offers rates below the current top tier. The best rates we track are currently above 4.21% APY.
Also see affiliated bank: SmartyPig
View productsBank Overview
- HQ LocationNewark, Delaware
- Founded2005
- AffiliationSallie Mae Bank is a subsidiary of SLM Corporation
- Ratings & Trust
- Zelle® SupportNo SupportStandard ACH or Wire transfers only.
- Deposit InsuranceFDIC Insured(Cert: 58177)
Our Take on Sallie Mae Bank
The Good
- Decent APY of 3.90%
- No minimum deposit or balance requirements
- No monthly maintenance fees
Considerations
- No physical branch access (online only)
- Poorly rated mobile apps on both platforms (iOS: 1.5, Android: 1.6)
Sallie Mae Bank offers a High-Yield Savings Account with an attractive APY of 3.90%. This account features no minimum deposit or balance requirements and does not charge monthly maintenance fees. Additionally, there are no direct deposit requirements, making it accessible for various users. However, it is important to note that the bank operates online only, lacking physical branch access, and its mobile apps have received poor ratings (iOS: 1.5, Android: 1.6).
Top Market Contenders
Savings Account: In-Depth View
Savings Account Offered by Sallie Mae Bank
| Feature | High-Yield Savings Account |
|---|---|
APY | 3.90%Verified: 1/7/2026 |
APY Trend | Very StableNo rate changes in last 90 days |
Min. Deposit | $0 |
Min. Balance | $0 |
Monthly Fee | $0 |
Direct Deposit | None |
Checking Bundle | No |
Branch Access | None |
Compounding | Daily |
FDIC Insured | Yes |
Eligibility | United States |
| Next Steps | - |
Calculate Savings for Sallie Mae Bank
Savings Breakdown
- Interest Earned+$1,526.90(9.8%)
- Total Contributions$13,000
- Initial Deposit$1,000
Projected Balance
$15,526.90
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Sallie Mae Bank Savings Rates Over Time
Historical APY Insights
Last 11 Months| Metric | High-Yield Savings Account |
|---|---|
Latest APY | 3.90% |
Trend | Sideways |
Slope (bps/mo) | -0.1 |
Rate Changes / Mo | 0.09 |
Days Since Last Change | 341 |
High (-11m) | 4.00% |
Low (-11m) | 3.90% |
Draw-down | -2.5% |
Volatility (CV) | 0.004 |
How to read these metrics▼
Trends & Velocity
- Trend
- The general direction of the rate over the analyzed period. Useful for spotting if a bank is currently aggressive or pulling back.
- Slope (bps/mo)
- Speed of change. A high positive number means they raise rates quickly. 10 bps = 0.10%.
- Rate Changes / Mo
- "Twitchiness." High frequency means the rate changes constantly; low frequency means it's stable.
Risk & Range
- High/Low
- The absolute ceiling and floor of the rate during the 350-day window.
- Volatility Score
- Lower is better for predictability. It indicates how wildly the rate swings relative to its average.
- Days Since Change
- If this number is high (e.g., >90), the rate is very sticky. If low, it changed recently.
Why track this? Understanding volatility helps you avoid "bait-and-switch" rates. A steady, rising slope is ideal; high volatility often signals a temporary teaser rate.
Compare with Sallie Mae Bank
| Feature | Current View Sallie Mae Bank | Empty Slot |
|---|---|---|
| Product | High-Yield Savings Account | - |
APY | 3.90%Verified: 1/7/2026 | - |
APY Trend | Very StableNo rate changes in last 90 days | - |
| Min. Deposit | $0 | - |
| Monthly Fee | $0 | - |
Direct Deposit | No | - |
Checking Bundle | No | - |
| Branch Access | None | - |
| Eligibility | United States | - |
Compounding | Daily | - |
FDIC Insured | Yes | - |
| Next Steps | - | - |
Bank-to-Bank Comparisons
Compare Sallie Mae Bank's APY of 3.90% with other banks
Alternatives to Sallie Mae Bank
Banks with Higher/Similar Savings APY
For a top list of the highest savings rates, see all HYSA top rates
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