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Sallie Mae Bank CDs Review
Our take: Up to 5.00% APY on a 5 year CD and 4.50% on terms from 12 to 30 months. You need $2,500 to open.
Pros
- 5.00% APY on 5 years
- 4.50% APY from 12 to 30 months
- No monthly fees
Cons
- $2,500 minimum deposit and balance
- Penalty amount not shown on the rate page
- Short terms (6 and 9 months) pay much less
Key facts
- Terms
- 6 to 60 months
- Early withdrawal penalty
- May be charged; see account terms
- Minimum balance
- $2,500 to earn the APY
- At maturity
- Renews automatically
- Minimum to open
- $2,500
- Monthly fee
- No monthly fee
- Insurance
- FDIC insured up to $250,000 per depositor, per ownership category
- FDIC certificate
- 58177 (Sallie Mae Bank, Salt Lake City, UT)
- Mobile app
- Sallie Mae app: 3.9 on Google Play (Oct 20, 2026); App Store rating not checked
Source: Sallie Mae website, checked Oct 28, 2026. Insurance details from the FDIC BankFind database.
Sallie Mae CDs pay up to 5.00% APY (60 months) and 4.50% APY on 12 to 30 months, with a $2,500 minimum deposit. Sallie Mae Bank is an FDIC insured bank in Salt Lake City, Utah (FDIC certificate 58177). Is it safe? See is Sallie Mae Bank legit? Rates accurate as of Oct 28, 2026, checked on Oct 28, 2026.
Sallie Mae CD rates today
| Term | APY |
|---|---|
| 6 months | 3.20% |
| 9 months | 3.20% |
| 11 months | 4.10% |
| 12 months | 4.50% |
| 13 months | 4.50% |
| 15 months | 4.50% |
| 18 months | 4.50% |
| 24 months | 4.50% |
| 30 months | 4.50% |
| 36 months | 4.60% |
| 60 months | 5.00% |
From Sallie Mae’s rate table, rates accurate as of October 23, 2026. CD rates are fixed for the term once your CD is opened and funded.
Which Sallie Mae CD term is best?
The 5 year CD pays the most. If you want a shorter lock up, the 12 month CD pays the same as every term up to 30 months, so there is little reason to choose 13 to 30 months over 12.
Minimum deposit and early withdrawal penalties
You need $2,500 to open and must keep $2,500 in the CD to earn the APY. Sallie Mae says a penalty may be charged for early withdrawal but does not list the amount on its rate page; check the account terms before opening.
How Sallie Mae CDs work
- Fixed rate for the full term
- $2,500 minimum to open and to earn the APY
- Renews automatically at maturity
- No monthly maintenance fees
Is Sallie Mae safe?
Yes. Sallie Mae Bank is FDIC certificate 58177, which we confirmed as active in the FDIC BankFind database, with about $28.5 billion in assets as of June 30, 2026. Deposits are insured up to $250,000 per depositor, per ownership category.
Compare CD rates by term: 6 month · 9 month · 1 year · 18 month · 2 year · 3 year · 4 year · 5 year
How it compares
The best CD rate we track right now is Sallie Mae Bank CDs. Compare every CD on our CD rates page.
Who it is best for
- Savers with $2,500 or more who want a 5 year rate
- Anyone who wants the same rate on 12 to 30 month terms
How Sallie Mae compares
| Account | Rating | Best APY | 12 month APY |
|---|---|---|---|
| E*TRADE CDs (Morgan Stanley Private Bank) | 4.7 | 4.80% | 4.55% |
| Barclays Online CD | 4.7 | 4.75% | 4.50% |
| Synchrony Bank CDs | 4.7 | 4.75% | 4.30% |
| Capital One 360 CDs | 4.7 | 4.50% | 4.00% |
| Marcus by Goldman Sachs High Yield CD | 4.6 | 4.40% | 4.40% |
| Bread Savings CD | 4.4 | 4.85% | 4.45% |
| CFG Bank CDs | 4.4 | 4.82% | 4.65% |
| Happen Bank CD | 4.4 | 4.76% | 3.50% |
| American Express CDs | 4.4 | 4.40% | 3.65% |
| Always.bank CDs | 4.3 | 4.15% | 4.15% |
| Service Credit Union Share Certificates | 4.3 | 4.10% | 4.10% |
| Sallie Mae Bank CDs | 4.2 | 5.00% | 4.50% |
| Ivy Bank CDs | 4.2 | 4.25% | 4.05% |
| Popular Direct CDs | 4.0 | 5.00% | 4.60% |
| Peak Bank CDs | 4.0 | 3.69% | 3.69% |
Sallie Mae CD FAQ
What are Sallie Mae CD rates today?
Up to 5.00% APY on 60 months and 4.50% APY on 12 to 30 months, as of Oct 28, 2026.
What is the minimum deposit?
$2,500 to open, and a $2,500 balance to earn the APY.
Is Sallie Mae Bank FDIC insured?
Yes. Sallie Mae Bank is FDIC certificate 58177 in Salt Lake City, Utah.
What happens at maturity?
Sallie Mae CDs renew automatically at the rate in effect then.
Ready to open Sallie Mae Bank CDs?
Rates as of Oct 28, 2026. Confirm the current rate and terms on the provider’s site before you apply.
Sallie Mae Bank CDs rate history
Every change we found to this account’s rates in our checks of the bank’s website, newest first, with the date the bank gives for each rate. See every bank on our rate change tracker.
| Rate as of | Account | Term | Change | Direction |
|---|---|---|---|---|
| Oct 23, 2026 | CD | 60 months | 4.75% to 5.00% APY | Raised |