Sallie Mae Bank

Sallie Mae Bank, member FDIC, is a Utah-based online bank with over 1,770 employees. It offers three competitive savings products with high APYs including high-yield savings account, money market account and certificates of deposit (CDs). Sallie Mae Bank doesn’t provide checking accounts. As of June 30, 2024, it had $28.7 billion in total assets, $19 billion in net loans, $26 billion in deposits and $2.8 billion in equity capital. The Bank was founded in 2005 and operates as a subsidiary of SLM Corporation, a company known for its government-backed and private student loans. Sallie Mae has one of the best savings, money market and certificate of deposit accounts, according to GOBankingRates.

Savings products (no monthly fees):
High-Yield Savings Account: 4.20% APY
Money Market Account: 4.20% APY
SmartyPig Account: 4.10% APY
Certificates of Deposit: 4.10% APY (12-month CD)
(Interest rates are effective as of November 2024)

Headquarters address:
175 South West Temple
Salt Lake City, UT 84101
Phone number: 877 346 2756
FDIC Certificate: 58177
Routing (ABA) number: 124385119
Website: www.salliemae.com

Opening Hours:
Monday - Friday, 9 am - 6 pm
Saturday, Sunday - Closed