Scouring the internet to find the best certificates of deposit (CDs) to grow your savings? You might at first glance neglect Sallie Mae, the financial institution best known for issuing student loans—but that would be a mistake.
Sallie Mae CDs offer up to 4.45% APY. That’s near the top of the market. It’s not a perfect destination for everyone’s money (it’s not a full-service bank, after all) but may be an excellent fit for those seeking to earn a generous amount of interest. Here’s everything you need to know about Sallie Mae CD rates.
Rates are current as of July 28, 2025 and are subject to change.
Sallie Mae CD rates and products
Sallie Mae offers only standard CDs. You won’t find specialty CDs like bump-up, flexible, business, or IRA CDs. If you’re looking for something distinct, your best bet is to open a CD elsewhere.
You can choose from 11 different CD terms from six months to five years. Sallie Mae also provides some unconventional term lengths, such as 11- and 13-month accounts. This can come in handy if you plan to build a CD ladder, as you’ll have more options when staggering your maturity dates.
The only real caveat when it comes to Sallie Mae CDs is its minimum opening deposit of $2,500. This is a little more than we’ve found to be typical. Some banks require no minimum deposit at all.
Sallie Mae also offers CDs with different term lengths and APYs through its partner, Raisin, but this requires that you open an account with Raisin.
Sallie Mae standard CD rates
| Term length | APY |
|---|---|
| 6 months | 4.15% |
| 9 months | 4.45% |
| 11 months | 4.15% |
| 12 months | 4.20% |
| 13 months | 4.15% |
| 15 months | 4.40% |
| 18 months | 3.80% |
| 24 months | 4.10% |
| 30 months | 3.70% |
| 36 months | 4.00% |
| 60 months | 4.00% |
| 6 months | |
|---|---|
| APY | 4.15% |
| 9 months | |
| APY | 4.45% |
| 11 months | |
| APY | 4.15% |
| 12 months | |
| APY | 4.20% |
| 13 months | |
| APY | 4.15% |
| 15 months | |
| APY | 4.40% |
| 18 months | |
| APY | 3.80% |
| 24 months | |
| APY | 4.10% |
| 30 months | |
| APY | 3.70% |
| 36 months | |
| APY | 4.00% |
| 60 months | |
| APY | 4.00% |
Bank details checked July 28, 2025
Compare Sallie Mae to competitors
Sallie Mae’s CD rates are nothing to sneeze at. But again, there are higher rates out there for select terms. Here’s a look at some of its competitors, all of which have far lower minimum opening deposit requirements.
 Sallie Mae Bank |  Discover |  Northern Bank Direct |
|---|---|---|
| 6 months | 6 months | 6 months |
| 4.15% | 4.20% | 4.25% |
| 9 months | 9 months | 9 months |
| 4.45% | 3.50% | 4.35% |
| 12 months | 12 months | 12 months |
| 4.20% | 4.00% | 4.30% |
| 18 months | 18 months | 18 months |
| 3.80% | 3.80% | 3.50% |
| 24 months | 24 months | 24 months |
| 4.10% | 3.80% | 3.50% |
| 60 months | 60 months | 60 months |
| 4.00% | 3.75% | 3.50% |
| Learn more | Learn more | Learn more |
| View offer at Bankrate | View offer at MoneyLion | View offer at Northern Bank Direct |
Bank details checked July 28, 2025
Learn more about Sallie Mae
Sallie Mae is a financial institution primarily focused on student loans, advertising private, undergrad, graduate, and career training options. It was originally created by the U.S. Congress in 1972 and called the Student Loan Marketing Association. It became privatized in 2004.
Sallie Mae now offers more than just student loans and CDs—you can also open high-yield savings accounts and a money market account. It’s far from a full-service bank, however, so those who want to manage all their accounts under one roof (think mortgage, checking, auto loan, etc.) may not find Sallie Mae to be a good fit.
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Frequently asked questions
Does Sallie Mae offer bump-up, jumbo, or IRA CDs?
Sallie Mae doesn’t offer bump-up, jumbo, or IRA CDs. It keeps things uncomplicated by offering only standard CDs.
When does interest compound on Sallie Mae CDs?
Interest compounds daily on Sallie Mae CDs.
Are Sallie Mae CDs FDIC insured?
Sallie Mae CDs are FDIC insured up to $250,000.
What is the minimum deposit required for a Sallie Mae CD?
The minimum deposit required for a Sallie Mae CD is $2,500.
What customer support options are available for Sallie Mae CD holders?
If you need help with your Sallie Mae CD, you can call 877-346-2756 from Monday through Friday between 9 a.m. and 6 p.m. Eastern Time. You can also write to Sallie Mae Bank at: 175 S West Temple, Ste. 600, Salt Lake City, UT 84101.