Sallie Mae Bank vs. Santander Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
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
Santander Bank
Santander Savings
0.01%APYDec 10, 2025FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppIn-Person AccessShow Fine Print & Trends Hide Details
Santander Bank
Santander Savings
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.
Sallie Mae Bank vs. Santander Bank Savings Calculator
Sallie Mae Bank earns $2,364.5 more than Santander Bank.
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
Santander Bank
Santander Savings
Savings Breakdown
- Interest Earned+$5.70(0.0%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$18,005.70
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Comparison Analysis
Comparing Sallie Mae Bank vs. Santander Bank
Why Sallie Mae Bank?
- ✓Higher potential APY (3.90% vs 0.01%) on all balances
- ✓No checking account or direct deposit required
Why Santander Bank?
- ✓Physical branch access (Primarily in the Northeast and Miami, Florida)
- ✓Higher rated iOS app (4.8 vs 1.5)
- ✓Higher rated Android app (4.0 vs 1.6)
— 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 $1/yr).
Better Returns at $25,000
Sallie Mae BankSallie Mae Bank's High-Yield Savings Account pulls ahead with larger amounts (approx. $975 vs $3/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.
Best Mobile App Experience
Santander BankSantander Bank offers an iOS app rated 4.8 (vs. 1.5) and Android app rated 4.0 (vs. 1.6)
Shared Benefits
Over a 1-year period, Sallie Mae Bank's High-Yield Savings Account pays $389 more interest on a $10,000 balance than Santander Bank's Santander 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%, making it the clear winner in this comparison. This account requires no minimum deposit or maintenance fees and does not mandate direct deposit, providing a straightforward savings solution. In contrast, Santander Bank's Savings account yields a significantly lower APY of 0.01%, with a minimum deposit of $25 and a $1 maintenance fee. While Santander Bank boasts a strong mobile app experience, the stark difference in interest rates positions Sallie Mae Bank as the more advantageous option for savers.
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 Sallie Mae Bank and Santander Bank.
| Feature | Sallie Mae Bank | Santander Bank |
|---|---|---|
| APY | 3.90% Verified: 12/10/2025 Stable (90d) | 0.01% Verified: 12/10/2025 ↘︎ 0.02%90d Change |
| Product Name | High-Yield Savings Account | Santander Savings |
| Minimum Deposit | $0 | $25 |
| Min. Balance for APY | $0 | $0 |
| Monthly Fee | $0 | $1 |
| Branch Access | None | Yes |
| Account Type | Online Only | Online & Branches |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS1.5 Android1.6 | iOS4.8 Android4.0 |
| BBB Rating | A+ | Not Rated |
| Next Steps |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Sallie Mae Bank | Santander Bank |
|---|---|---|
| High-Yield Savings Account | Santander Savings | |
Current APY | 3.90% | 0.01% |
Trend | Stable | Stable |
Velocity (bps/mo) | -0.1 | -0.2 |
Days Since Change | 313 | 82 |
11-Month High | 4.00% | 0.03% |
11-Month Low | 3.90% | 0.01% |
Adjustments / Mo | 0.09 | 0.09 |
Volatility Score | 0.004 | 0.384 |
How to read these metrics(Click to expand)
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