I had no idea, until I read a review of it on Consumerism Commentary today, that Sallie Mae has entered the high-yield online savings account game with its own somewhat competitive offer.
What are the details? Never thought you would ask! Here's the rundown:
- No minimum balance requirements
- No monthly service fees
- Your interest with the Sallie Mae online savings account is compounded daily
- Currently 1.25% APY and deposits are FDIC insured
Seems like a pretty good offer. You can view their site and sign up page here. Sallie Mae is also offering online certificates of deposit (CDs) on the same site. Is it easy to get an online savers account at Sallie Mae? Yes. According to Consumerism Commentary, it could not be easier actually: "The account opening process was the smoothest I’ve ever experienced."
Rates subject to change; this page may not be updated with the most recent bank terms or rates. Information here provided without warranty or guarantee.
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