Read about Sallie Mae banking promotions and offers for their money market account here.
- Update 9/11/2024: Rate is slightly lower again at 4.55%. CIT Bank also offers a strong APY on its CIT Platinum Savings account.
- Update 4/26/2024: Rate is slightly lower, now 4.65%.
- Update 1/19/2024: Rate remains the same at 4.75% APY.
- Update 8/10/2023: Rate increased to 4.75% APY.
- Update 7/27/2023: Rate increased to 4.50% APY.
- Update 6/25/2023: APY rate increased to 4.25% APY.
- Update 4/24/2023: Their APY rate increased again from 4.05% to 4.15%.
- Update 3/29/2023: Their APY rate increased from 3.80% to 4.05%.
- Update 3/14/2023: Their APY rate increased from 3.75% to 3.80%.
- Update 2/27/2023: Their APY rate increased from 3.60% to 3.75%.
- Update 2/3/2023: Their APY rate increased from 3.40% to 3.60%.
- Update 12/27/2022: Their APY rate increased from 3.20% to 3.40%.
Sallie Mae, often thought of in terms of student loans, boasts one of the highest money market rates in the nation with no minimums or monthly fees.
Link a couple of their programs together and over time, you can build up a substantial amount for tuition, educational necessities or for something else altogether.
Sallie Mae Bank Money Market Account Details
- Available nationwide
- Minimum to open: None
- Minimum for APY: $1
- Monthly fee: None
- No minimum balance required
- Access to your money and write checks from the account
- Rate compounded daily, paid monthly
READ MORE: GET TOP BONUSES FROM CHASE, AXOS, BANK OF AMERICA AND BMO.
Bottom Line
Here’s a recap of this account:
- Grow your money faster with a higher interest rate and no monthly fees
- Earn interest at a higher rate than a traditional savings account with an online money market account
- Access your money and write checks from the account
- No minimum balance required
- No monthly maintenance fees
- Enjoy free transfers
- FDIC-insured for your peace of mind
- Convenient and easy online account management
Compare with more popular savings and money market accounts here.
READ MORE: SEE THE BEST BANK BONUSES HERE AND THE BEST INVESTING BONUSES HERE.
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