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Sallie Mae Bank Review 2026

This Sallie Mae Bank review 2026 covers rates, fees and our verdict.

1-year CD

4.20%

FDIC insured

Yes — $250,000

Total assets

$28.5B

Total deposits

$20.3B

Headquarters

Salt Lake City, UT

Why no rate is shown here

We could not read a savings rate from Sallie Mae Bank’s own published rate page within the past seven days, so this review shows no APY, no comparison and no rate-based call to action. Everything below — deposits, complaints, fees and branches — comes from filings and public databases and is unaffected.

Check the current rate on Sallie Mae Bank’s own site

For a benchmark, the FDIC national average savings rate was 0.38% as of 17 Aug 2026 — FDIC · National Rates and Rate Caps.

What the filings show

Savings APY vs FDIC national average
Not verified in the past 30 days
Monthly maintenance fee
—
Minimum opening deposit
Not published
Total deposits (FDIC filing)
$20,327m
Deposit insurance
FDIC insured

We do not assign a star rating. A score with no published formula is not evidence, so this page carries only figures we can point at a source for: FDIC filings, the CFPB complaint database and the bank’s own published rate page.

Cash is only one part of the plan

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Editorial disclosure — Some companies listed here are commercial brands. We select them editorially from public regulatory data and are never paid for placement or ranking. Read our full disclosure.

Sallie Mae Bank FAQ

Is Sallie Mae Bank FDIC insured?

Yes. Sallie Mae Bank is an FDIC-insured institution, so deposits are protected up to $250,000 per depositor, per ownership category, in the unlikely event the bank fails.

What APY does Sallie Mae Bank pay on savings?

We do not have a verified current rate for Sallie Mae Bank. Check salliemae.com for today's APY.

Does Sallie Mae Bank charge monthly fees?

See the fee row in the summary above. Where a monthly fee exists it can usually be waived by meeting a minimum balance or direct-deposit requirement — read the account's fee schedule before signing up.

How do I open an account with Sallie Mae Bank?

Applications are online and take about ten minutes. You will need your Social Security number, a government photo ID, your address and the details of an existing bank account to fund the first deposit.

Think Bigger Today keeps its editorial standards independent of commercial relationships. This review was written by our team using publicly available information, including regulatory filings and published rate sheets. Sallie Mae Bank did not review, approve or endorse it, and is not responsible for its accuracy. Companies that work with us commercially get no preferential coverage, scoring or placement. This page may link to our free matching service, for which we can be paid a referral fee — that fee never decides what we publish, and you may or may not be matched with Sallie Mae Bank. Figures can change without notice; always confirm the current terms with the provider. Nothing here is financial, legal or tax advice.

Source: FDIC BankFind; Federal Reserve H.15 via FRED. Latest observation 2026-09-15.

Source: Sallie Mae Bank published rate sheet. No savings rate read inside the past 7 days, so no APY is shown.