Charles Schwab Bank vs. Sallie Mae Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
Charles Schwab Bank
Schwab Bank Investor Savings™
0.15%APYDec 10, 2025FDIC InsuredNo MinimumsGreat iOS AppIn-Person AccessShow Fine Print & Trends Hide Details
Charles Schwab Bank
Schwab Bank Investor Savings™
Sallie Mae Bank
High-Yield Savings Account
3.90%APYDec 10, 2025FDIC InsuredNo MinimumsShow Fine Print & Trends Hide Details
Sallie Mae Bank
High-Yield Savings Account
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.25% APY.
Charles Schwab Bank vs. Sallie Mae Bank Savings Calculator
Sallie Mae Bank earns $2,284.1 more than Charles Schwab Bank.
Charles Schwab Bank
Schwab Bank Investor Savings™
Savings Breakdown
- Interest Earned+$86.10(0.5%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$18,086.10
Sallie Mae Bank
High-Yield Savings Account
Savings Breakdown
- Interest Earned+$2,370.20(11.6%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,370.20
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Comparison Analysis
Comparing Charles Schwab Bank vs. Sallie Mae Bank
Why Charles Schwab Bank?
- ✓Higher rated iOS app (4.8 vs 1.5)
Why Sallie Mae Bank?
- ✓Higher potential APY (3.90% vs 0.15%) on all balances
- ✓No checking account or direct deposit required
— Key Feature Differences —
Better Returns at $10,000
Sallie Mae BankSallie Mae Bank's High-Yield Savings Account earns more on smaller deposits (approx. $390 vs $15/yr).
Better Returns at $25,000
Sallie Mae BankSallie Mae Bank's High-Yield Savings Account pulls ahead with larger amounts (approx. $975 vs $38/yr).
Best for Simplicity
Sallie Mae BankSallie Mae Bank's High-Yield Savings Account offers 3.90% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Sallie Mae Bank's High-Yield Savings Account pays $375 more interest on a $10,000 balance than Charles Schwab Bank's Schwab Bank Investor Savings™.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary
Sallie Mae Bank offers a High-Yield Savings Account with a competitive APY of 3.90%, significantly higher than Charles Schwab Bank's Schwab Bank Investor Savings™, which has an APY of 0.15%. Both accounts have no minimum deposit or maintenance fees, and neither requires direct deposit. However, Sallie Mae Bank's account is online-only, making it a more attractive option for those seeking higher returns without additional requirements. In contrast, Schwab's offering may serve as a secondary alternative for those who prefer a traditional banking experience.
Analysis generated based on current Banksparency database records
* AI-generated content provided for informational purposes only. Accuracy is not guaranteed; always verify details with the provider.
Top Market Contenders
See who beats both Charles Schwab Bank and Sallie Mae Bank.
| Feature | Charles Schwab Bank | Sallie Mae Bank |
|---|---|---|
| APY | 0.15% Verified: 12/10/2025 Stable (90d) | 3.90% Verified: 12/10/2025 Stable (90d) |
| Product Name | Schwab Bank Investor Savings™ | High-Yield Savings Account |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0.01 | $0 |
| Monthly Fee | $0 | $0 |
| Branch Access | Yes | None |
| Account Type | Online & Branches | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.8 Android2.9 | iOS1.5 Android1.6 |
| BBB Rating | A+ | A+ |
| Next Steps |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Charles Schwab Bank | Sallie Mae Bank |
|---|---|---|
| Schwab Bank Investor Savings™ | High-Yield Savings Account | |
Current APY | 0.15% | 3.90% |
Trend | Stable | Stable |
Velocity (bps/mo) | -0.0 | -0.0 |
Days Since Change | 314 | 313 |
10-Month High | 0.15% | 4.00% |
10-Month Low | 0.15% | 3.90% |
Adjustments / Mo | 0.00 | 0.10 |
Volatility Score | 0.000 | 0.002 |
How to read these metrics(Click to expand)
Compare Similar High-Yield Accounts
Compare Charles Schwab Bank vs...
Comparing against Standard Savings
Compare Sallie Mae Bank vs...
Comparing against Standard Savings
Higher Rates (With Checking)
Looking for something different? Check out these top-rated alternatives.