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($2,500 min deposit) & More
Deal Details
Sallie Mae is offering 12-Month High Yield Certificate of Deposit Account (CD) at 5.50% APY with $2,500 min deposit.
Thanks to Community Member susko for posting this deal.
Sallie Mae is also offering 18-Month High Yield Certificate of Deposit Account (CD) at 5.55% APY with $2,500 min deposit.
Thanks to Community Member susko for posting this deal.
Sallie Mae is also offering 18-Month High Yield Certificate of Deposit Account (CD) at 5.55% APY with $2,500 min deposit.
Editor's Notes
Written by megakimcheelove | Staff- About this deal:
- Terms and Conditions here
- Advertised Interest Rate and Annual Percentage Yield (APY) for Certificates of Deposit may change after maturity, applies to personal accounts only, and are accurate as of 08/02/2023.
- A penalty may be charged for early withdrawal. Fees could reduce earnings.
- Funds deposited in an Account and any other account(s) at Sallie Mae Bank are collectively insured up to the applicable limit by the Federal Deposit Insurance Corporation ("FDIC").
- See the forum thread for additional discussion of this deal.
Community Notes
About the Poster
Deal Details
Community Notes
About the Poster
Sallie Mae is offering 12-Month High Yield Certificate of Deposit Account (CD) at 5.50% APY with $2,500 min deposit.
Thanks to Community Member susko for posting this deal.
Sallie Mae is also offering 18-Month High Yield Certificate of Deposit Account (CD) at 5.55% APY with $2,500 min deposit.
Thanks to Community Member susko for posting this deal.
Sallie Mae is also offering 18-Month High Yield Certificate of Deposit Account (CD) at 5.55% APY with $2,500 min deposit.
Editor's Notes
Written by megakimcheelove | Staff- About this deal:
- Terms and Conditions here
- Advertised Interest Rate and Annual Percentage Yield (APY) for Certificates of Deposit may change after maturity, applies to personal accounts only, and are accurate as of 08/02/2023.
- A penalty may be charged for early withdrawal. Fees could reduce earnings.
- Funds deposited in an Account and any other account(s) at Sallie Mae Bank are collectively insured up to the applicable limit by the Federal Deposit Insurance Corporation ("FDIC").
- See the forum thread for additional discussion of this deal.
Community Voting
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Top Comments
"Penalties for Early Withdrawal. As noted above, a penalty will be imposed for withdrawals of principal before maturity. If your CD has a maturity of twelve (12) months or less, the penalty we impose will equal ninety (90) days' simple interest on the amount withdrawn subject to penalty. If your CD has a maturity greater than twelve (12) months, the penalty we impose will equal one hundred eighty (180) days' simple interest on the amount withdrawn subject to penalty. If the amount required to be forfeited is greater than the interest earned or paid on your CD, we will deduct the difference from principal. In certain circumstances, such as the death or incompetence of an Accountholder, the law permits, and in some cases requires, the waiver of the early withdrawal penalty."
It's on their huge terms page here [salliemae.com].
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111 Comments
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I know they're FDIC insured so you can get your $ back, but does this mean they can modify the rate and you don't get the 5.5%?
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"Penalties for Early Withdrawal. As noted above, a penalty will be imposed for withdrawals of principal before maturity. If your CD has a maturity of twelve (12) months or less, the penalty we impose will equal ninety (90) days' simple interest on the amount withdrawn subject to penalty. If your CD has a maturity greater than twelve (12) months, the penalty we impose will equal one hundred eighty (180) days' simple interest on the amount withdrawn subject to penalty. If the amount required to be forfeited is greater than the interest earned or paid on your CD, we will deduct the difference from principal. In certain circumstances, such as the death or incompetence of an Accountholder, the law permits, and in some cases requires, the waiver of the early withdrawal penalty."
It's on their huge terms page here [salliemae.com].
Our community has rated this post as helpful. If you agree, why not thank
Our community has rated this post as helpful. If you agree, why not thank
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The treasurydirect website can be a PITA (for some...it wasn't for me) if not using a brokerage firm
Rates should be similar
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