Sallie Mae Bank has recently boosted their online savings account and CD rates.
Sallie Mae has traditionally been a a student loan lender but it looks like they are trying to attract more deposits with one of the top savings rates.
Sallie Mae online savings account features:
- No Minimum Balance
- No Monthly Fees
- Daily Compounded Interest
- FDIC Insured
- 1.40% apy
SallieMae claims their High-Yield Savings Account delivers an Annual Percentage Yield (APY) that’s ‘6x the national average’ (that according to bankrates 2010 Passbook & Statement Savings Study, as of 4/21/2010.)
The account opening process is pretty streamlined and hassle free and can all be done online.
Sallie Mae bank is FDIC insured.
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