SallieMae, who is traditionally known for their student loans, have some new and very attractive certificate of deposits.
With products that have no minimum deposit and no monthly fees it makes getting into a SallieMae CD pretty easy to do. The CDs are FDIC insured and SallieMae claims rates as hi as 3.0 apy.
Being new into the online bank retail space, including CDs and Savings Accounts (see SallieMae Savings Accounts here), it appears SallieMae is marketing aggressive rates to get clients.
Here is a quick and easy to read break down of the CD Rates and Guidelines at SallieMae:
- No Monthly Charges
- No Minimum Deposit
- No Hidden Charges
- 12 month CD at 1.50% APY
- 3 Year CD at 2.20% APY
- 5 Year CD at 3.00% APY
- FDIC Insured
A word from SallieMae, “We have a CD term and rate that’s right for you and your goals. It’s simple to start and even easier to earn more because the returns are guaranteed! Open your account today.”