The interest rate and APY will be determined on the date you fund the CD, not the date you open the account. If no action is taken within the 10 day grace period, the funds will automatically renew into the same CD with its current rate. Upon the maturity of your Sallie Mae CD, you’ll have a 10 calendar day grace period during which you can withdraw funds from your CD account without penalty. ![]() ![]() CD TermĮarnings = Sum of all interest payments through maturity. Take a look at the table below showing potential earnings based on a $25,000 deposit. The amount of money you can earn with a Sallie Mae CD depends on your deposit size, the CD term you select and its APY (annual percentage yield). How Much Can You Make with a Sallie Mae CD? BankĬD rates surveyed on August 11, 2023. Take a look at the table below to see how Sallie Mae’s best CD rate compares with the best CD rates from other FDIC-insured online banks. To put Sallie Mae’s CD rates (above) in perspective, the current national average for a 12 month CD sits at 1.72% and the current average for a 5 year CD sits at 1.37% according to FDIC data. ![]() Sallie Mae offers 11 standard CDs (certificates of deposit) with terms ranging from 6 months to 5 years.Īll of their CDs are federally insured by the FDIC up to the applicable limits and come with a minimum deposit requirement of $2,500.
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