Sallie Mae Bank Ratings – CD Account (5/5)

 Sallie Mae Bank has some of the best CD accounts available in the banking industry today.  Why is that?  First of all the rates offered on all of their CD accounts are above the national average, although there are only 3 term lengths offered.  A 12 month CD has an APY of 1.20%, 36 month at 1.30%, and 60 month at 2.09%.  What is even better about Sallie Mae Bank’s CDs come in regards to their fees.  There is no minimum deposit requirement, no minimum balance fee, and no other monthly fees as well.  The banking industry usually has a $1,500 minimum opening deposit requirement, so to find a bank that has absolutely no minimum deposit requirement is unusual to say the least.  The only significant fee worth mentioning is a paper statement fee of only $5.  Other than that fees are practically nonexistent when it comes to Sallie Mae Bank CD accounts.  All accounts are FDIC insured up to $250,000, and the interest on each account is compounded daily and paid monthly. Check out more information on Sallie Mae CDs

CD Rating