Sallie Mae CD Rates and Terms for 2026
Written by
Rudri Bhatt Patel, CFHC™
Edited by
Elizabeth Constantineau, CFHC™
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Sallie Mae Bank, headquartered in Salt Lake City, Utah, is an online-only bank with an array of high-interest savings products. The online bank offers a wide variety of certificates of deposit (CDs) with competitive yields. Check out the CD rates for 2026 and see if you find the right investment for you.
Current Sallie Mae CD Rates: February 2026
Sallie Mae CDs come in terms ranging from six months to five years. Interest is compounded daily. See the chart below for all the rates and terms.
| Term | Annual Percentage Yield (APY) | Minimum Deposit |
|---|---|---|
| 6 months | $2,500 | |
| 9 months | $2,500 | |
| 11 months | $2,500 | |
| 12 months | $2,500 | |
| 13 months | $2,500 | |
| 15 months | $2,500 | |
| 18 months | $2,500 | |
| 24 months | $2,500 | |
| 30 months | $2,500 | |
| 36 months | $2,500 | |
| 60 months | $2,500 |
Pros and Cons of Sallie Mae CDs
As an online-only bank, Sallie Mae delivers a lot of advantages, but it may not be the best choice for everyone. Here’s a rundown of the pros and cons of a Sallie Mae CD.
Pros
- High APYs for all terms
- Automatic renewal
- Interest compounds daily
- No penalties for withdrawing interest before term ends
- No monthly fees
Cons
- Early withdrawal penalties
- High minimum opening deposit of $2,500 required
- No ATM or debit card
How Much Can You Earn With a Sallie Mae CD?
Here’s a simple example showing estimated earnings with a Sallie Mae CD:
| Deposit Amount | Term | APY | Estimated Interest Earned* |
|---|---|---|---|
| $1,000 | 6 months | $19.31 | |
| $2,500 | 1 year | $100 | |
| $10,000 | 5 years | $2,166.53 |
How To Open a Sallie Mae CD
Opening a Sallie Mae CD is easy, since you can begin the process online or by phone. To open an account online, follow these quick steps:
- Choose your term and click the blue link that reads “Open an account.”
- If you already have a Sallie Mae savings or money market account, you’ll be prompted to log in. If you don’t, you’ll need to start your application by entering your email address.
- Follow the prompts to fill in your personal information, including your Social Security number, mother’s maiden name and phone number.
- Choose a secret question and enter your response. Make sure to remember this answer, because it will be used to verify your identity when you call Sallie Mae.
- From there, you can enter your financial information, including your occupation and annual income.
- You’ll need to fund your CD account immediately with a deposit of at least $2,500. You can do this through: an ACH deposit, a transfer from a linked account or a personal check.
How Do Sallie Mae CD Rates Compare With Other Banks?
Sallie Mae CD rates are competitive, but how do they compare to other banks’ rates? Here’s a side-by-side comparison:
| Bank | 1-Year CD Rate | 5-Year CD Rate | Minimum Deposit |
|---|---|---|---|
| Sallie Mae | $2,500 | ||
| Ally Bank | $0 | ||
| First Horizon Bank | $1,000 | ||
| Capital One* | $0 |
Is a Sallie Mae CD Right for You?
Here’s who a Sallie Mae CD may be a good fit for — and who might want to explore other options.
Ideal For
- Tech-savvy investors
- Individuals with at least $2,500 to deposit
- Investors seeking a variety of CD terms
Not Great For
- Savers with less than $2,500 to invest
- Investors who need liquidity
- Customers who prefer in-person service
Tips for Getting the Best CD Rates
Want the best rate on your Sallie Mae CD? Here are some tips that may help:
- Consider relationship banking perks: A long-term relationship with Sallie Mae or multiple accounts may help you secure a higher CD rate.
- Compare multiple terms: Do your due diligence and research different banks with CDs and a variety of terms.
- Look for promotional or limited-time offers: Check for promotional rates or special offers on CDs. You can look up this information online or ask in person for those offers.
- Use a CD laddering strategy if liquidity matters: Use CD laddering as a strategy so that you can have cash on hand when you need it.
Sallie Mae CD Rates FAQ
Here's a look at some of the best Sallie Mae rates and accounts available for the new year:- What is the minimum deposit for a Sallie Mae CD?
- You’ll need at least $2,500 to open a Sallie Mae CD.
- Are Sallie Mae CDs FDIC-insured?
- Yes. Sallie Mae Bank is a Member FDIC, and deposits in CDs, savings and money market accounts are insured up to $250,000 per depositor per ownership category.
- What is the early withdrawal penalty on Sallie Mae CDs?
- If you withdraw before maturity, Sallie Mae charges an early withdrawal penalty of 90 days’ simple interest for CD terms of 12 months or less, and 180 days’ simple interest for longer terms.
- How do Sallie Mae CD rates compare with top CD rates?
- Sallie Mae’s best APYs are competitive but not always the very highest. If you’re chasing every last fraction of a percent, it’s worth comparing Sallie Mae’s rates to online-only banks and credit unions.
Dawn Allcot contributed to the reporting for this article.
Data is accurate as of Jan. 26, 2026, and is subject to change.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
*Capital One interest rates are accurate as of 01/26/2026. See website for all current rates.
