Last Updated: 01/16/2026
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Highlights
APY (Annual Percentage Yield)
Up to 3.75%(Verified 09/19/2025)
Minimum Opening Deposit
$1
Certificate Term
14 Months
Sallie Mae High Yield CDs Review
Sallie Mae High Yield CDs are offered by Sallie Mae, a direct lender founded in 1972 and based in Newark, DE. Sallie Mae High Yield CDs are available in 50 states and Washington, DC.
Key Takeaways
- Only one CD type available. Sallie Mae High Yield CDs only offers traditional CD accounts.
- Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 3.75%, which is much higher than the national average for a CD account.
- Small minimum initial deposit. You only need $1 to open an account.
- Limited selection of CD terms. Sallie Mae High Yield CDs only offers one CD term. This limits your options when trying to set up a CD ladder.
Pros & Cons of Sallie Mae High Yield CDs
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Sallie Mae High Yield CDs FAQ
Are CD from Sallie Mae federally insured?
Yes, your Sallie Mae CDs are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.
What types of CDs does Sallie Mae offer?
Sallie Mae High Yield CDs provides the following types of CDs.- Traditional CDs. These CDs pay a fixed interest rate if you deposit a fixed amount of money for a specific term. Once the maturity date arrives, you have the option of cashing out or automatically renewing the CDs for another term.
What rates does Sallie Mae offer on its CDs?
What terms does Sallie Mae High Yield CDs offer?
Sallie Mae offers CD terms of the following lengths:| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Certificate Term | 14 Months | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 11-Month APY | 0% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| APY (Annual Percentage Yield) | Up to 3.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 10-Month APY | 3.65% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 14-Month APY | 3.75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What is the minimum deposit to open a CD account with Sallie Mae?
Sallie Mae High Yield CDs require a minimum deposit of $1 to open an account.
What is the grace period for Sallie Mae High Yield CDs?
Sallie Mae High Yield CDs does not specify what their grace period is. A grace period is a period of time during which you can withdraw the money in your CD without paying an early withdrawal penalty. A grace period starts the day after a CD’s maturity date, or the final day a CD is opened. Standard CDs renew automatically at the same term if you don't withdraw your money after the grace period. Note that the new CD rates probably won’t be the same as the original.
What types of fees, such as early withdrawal penalties, does Sallie Mae charge?
Financial institutions don't typically charge many fees on CDs. However, most charge a fee if you choose to withdraw your money before the term ends.
Sallie Mae does not charge an early withdrawal fee.
Sallie Mae does charge any of the fees we track.
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Hours of Operation
Sunday
Closed
Monday
9:00AM - 5:00PM
Tuesday
9:00AM - 5:00PM
Wednesday
9:00AM - 5:00PM
Thursday
9:00AM - 5:00PM
Friday
9:00AM - 5:00PM
Saturday
Closed