What are Sallie Mae Bank CD Rates Today?
Sallie Mae Bank CD rates range from 3.20% APY for a 6-month CD to 4.50% APY for a 5-year CD as of Oct 19, 2026.Sallie Mae Bank CD rates rank among the highest we track each week, with a flat rate across several mid-range terms and a $2,500 minimum deposit. Its 12-month CD currently pays 4.40% APY.
Sallie Mae Bank CDs at a glance
- Top rate
- 4.50% APY on a 5-year Standard CD
- Terms
- 6 months to 5 years
- Minimum deposit
- $2,500
- CD types
- Standard
- Insurance
- FDIC, up to $250,000
Rates checked Oct 19, 2026 against Sallie Mae Bank's own rate page. We check weekly and accept no paid placements.
- A $2,500 minimum deposit is required to open any Sallie Mae CD.
- The 12-through-30-month terms all pay 4.40% APY APY, so there is no rate reward for locking in longer until you reach the 36-month term.
- Sallie Mae offers several less-common terms, including 11, 13, and 15 months, which can fill specific rungs in a CD ladder.
- For comparison, the FDIC national average on a 12-month CD is 1.76% APY.
Sallie Mae CD rates today
Sallie Mae offers a single CD product with no tier structure, so the rate is the same for every balance above the $2,500 minimum.
| Term | APY | Min deposit | Rate last changed |
|---|---|---|---|
| 6-month | 3.20% APY | $2,500 | – |
| 9-month | 3.20% APY | $2,500 | – |
| 11-month | 4.10% APY | $2,500 | – |
| 12-month | 4.40% APY | $2,500 | – |
| 13-month | 4.40% APY | $2,500 | – |
| 15-month | 4.40% APY | $2,500 | – |
| 18-month | 4.40% APY | $2,500 | – |
| 2-year | 4.40% APY | $2,500 | – |
| 30-month | 4.40% APY | $2,500 | – |
| 3-year | 4.45% APY | $2,500 | – |
| 5-year | 4.50% APY | $2,500 | – |
A penalty may be imposed for early withdrawal.
Where the rate depends on your balance, the table shows the tier that includes $25,000. Rate last changed is the as-of date of the first week we saw the current rate; a dash means it hasn't changed since we started tracking it. Deposits at FDIC-member banks are insured up to $250,000 per depositor, per ownership category.
How Sallie Mae CDs work
- Opening. You apply online and fund the CD from a linked external bank account. The $2,500 minimum must be met at the time of opening.
- Interest. Interest compounds daily and is credited monthly.
- Deposits. The CD is funded once at opening and cannot receive additional deposits during the term.
- Maturity. The CD renews automatically for the same term at the then-current rate unless you act during the 10-day grace period.
Sallie Mae early withdrawal penalties
Sallie Mae’s penalty schedule uses simple interest rather than compound, making the calculation straightforward. Terms of 12 months or less carry a 90-day penalty; terms longer than 12 months carry a 180-day penalty.
How Sallie Mae compares
The table below ranks the highest 12-month rates among the banks and credit unions we track each week. This is a limited comparison; a smaller institution may pay more.
| Rank | Bank | APY | Min deposit | As of |
|---|---|---|---|---|
| 1 | Barclays | 4.50% APY | None | Oct 7, 2026 |
| 2 | Sallie Mae Bank | 4.40% APY | $2,500 | Oct 19, 2026 |
| 3 | Ally Bank | 4.30% APY | None | Oct 16, 2026 |
| 4 | Navy Federal Credit Union | 4.05% APY | $1,000 | Oct 19, 2026 |
| 5 | Capital One, N.A. | 4.00% APY | None | Oct 9, 2026 |
Standard CD rates for a $25,000 balance. These are the highest rates among the institutions AnnuityJournal checks each week, not every bank in the country. A penalty may be imposed for early withdrawal. Verify the current rate with the bank.
Across all terms, these are the best rates currently available from the institutions we follow.
| Term | Top APY | National avg. | Bank | Min deposit | As of |
|---|---|---|---|---|---|
| 6-month | 4.00% APY | 1.39% APY | Barclays | None | Oct 7, 2026 |
| 9-month | 4.00% APY | – | Ally Bank | None | Oct 16, 2026 |
| 11-month | 4.10% APY | – | Sallie Mae Bank | $2,500 | Oct 19, 2026 |
| 12-month | 4.50% APY | 1.76% APY | Barclays | None | Oct 7, 2026 |
| 13-month | 4.40% APY | – | Sallie Mae Bank | $2,500 | Oct 19, 2026 |
| 15-month | 4.40% APY | – | Sallie Mae Bank | $2,500 | Oct 19, 2026 |
| 18-month | 4.50% APY | – | Barclays | None | Oct 7, 2026 |
| 2-year | 4.75% APY | 1.55% APY | Barclays | None | Oct 7, 2026 |
| 30-month | 4.40% APY | – | Sallie Mae Bank | $2,500 | Oct 19, 2026 |
| 3-year | 4.50% APY | 1.39% APY | Barclays | None | Oct 7, 2026 |
| 5-year | 4.75% APY | 1.41% APY | Barclays | None | Oct 7, 2026 |
Standard CD rates for a $25,000 balance, from each institution's own published rates. These are the highest among the institutions AnnuityJournal checks each week, not every bank in the country. A penalty may be imposed for early withdrawal. Verify the current rate with the bank. National average: the FDIC national rate for October 2026, via the Federal Reserve Bank of St. Louis (FRED).
Sallie Mae CD vs. a fixed annuity
Both a CD and a multi-year guaranteed annuity (MYGA) provide a guaranteed rate for a fixed period. The main differences are the tax treatment of interest and the exit costs.
| Product | Rate/APY | What $25,000 earns over 5 years | Guaranteed by |
|---|---|---|---|
| National average 5-year CD FDIC national rate, October 2026 | 1.41% APY | $1,813 | FDIC or NCUA insurance, up to $250,000 |
| Sallie Mae Bank 5-year CD Standard rate, as of Oct 19, 2026 | 4.50% APY | $6,155 | FDIC insurance, up to $250,000 |
| 5-year MYGA: Knighthead Life Staysail 5 (Simple Interest) Top rate from carriers rated A- or better (AM Best A-) | 6.65% guaranteed | $8,313 | The issuing insurer and state guaranty associations |
| 5-year Treasury Par yield as of Oct 19, 2026 | 4.94% yield | $6,816 | The U.S. government |
MYGAs are not FDIC-insured; they are backed by the issuing insurer and state guaranty associations, up to state limits, and carry surrender charges for early withdrawals. Earnings are estimates before taxes: the rate compounded once a year over the term with interest left in the account (simple interest where noted). The national average and Treasury figures are treated the same way. A penalty may be imposed for early CD withdrawal. This comparison is educational, not a recommendation; verify every rate with the provider.
CD interest is taxed annually, while annuity interest is tax-deferred until withdrawal. See how MYGAs compare with Treasury bonds and today’s best MYGA rates for a broader view.
Who Sallie Mae CDs suit
Sallie Mae CDs suit savers who can meet the $2,500 minimum and are willing to compare its competitive rates against other online banks. Its flat rate across 12 to 30 months means a 12-month term is as good a choice as a longer one unless you reach 36 months, making it well-suited for short- to mid-range CD ladders. The unusual term lengths, such as 11 and 13 months, add flexibility.
Sallie Mae is a weaker fit if you cannot meet the minimum deposit, if you want a no-penalty CD, or if you are locking in five or more years and want the tax deferral that a fixed annuity provides. Also compare with the institutions on our CD rates hub before committing.
Frequently asked questions
What is Sallie Mae Bank's best CD rate right now?
Sallie Mae Bank's highest CD rate we track is 4.50% APY on its 5-year Standard CD, as of Oct 19, 2026. That's for a $25,000 balance. Rates change often, so confirm the current rate with Sallie Mae Bank before opening an account.
When were these rates last checked?
AnnuityJournal last checked Sallie Mae Bank's rates on Oct 19, 2026, directly from Sallie Mae Bank's own rate page. We check once a week, and we stop showing any rate that hasn't been checked in 10 days.
Is a Sallie Mae Bank CD better than a fixed annuity (MYGA)?
Over 5 years, Sallie Mae Bank pays 4.50% APY on its CD, and the top 5-year MYGA we track pays 6.65% guaranteed (Knighthead Life). It depends on what you need. A CD is FDIC-insured up to $250,000 and you can reach the money early by paying a penalty. A MYGA is not FDIC-insured; it is backed by the issuing insurance company and state guaranty associations, carries surrender charges, and its interest grows tax-deferred until you withdraw it.
Is Sallie Mae Bank FDIC insured?
Yes. Sallie Mae Bank is a federally chartered savings bank and a member of the FDIC. Deposits are insured up to $250,000 per depositor, per ownership category. Sallie Mae is a bank, not a student loan servicer, though the brand is the same.
Why does Sallie Mae have odd CD terms like 11 and 13 months?
Sallie Mae Bank has historically offered non-standard terms to give savers more flexibility in matching a CD’s maturity to a specific date, such as a tax bill or a home purchase. These terms can be useful when building a CD ladder around a specific cash-flow schedule.
Sallie Mae Bank CD rates change without notice, so confirm the current rate directly on the Sallie Mae Bank site before opening an account.
