Sallie Mae Bank Online Money Market Earns 4.20% APY (Nationwide)

Read about Sallie Mae banking promotions and offers for their money market account here.

• Update 10/16/2024: Rate has decreased slightly to 4.20%. CIT Bank also offers a strong APY on its CIT Platinum Savings account.
• Update 9/11/2024: Rate is slightly lower again at 4.55%.
• 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.

TRENDING DEAL:

▶ GET A $300 CASH BONUS FOR A NEW CHECKING ACCOUNT WITH CHASE

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, 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.

Click here to see why Interactive Brokers is the #1 brokerage for serious investors!