Sallie Mae Bank Recognized as a Best Online Bank of 2015
Sallie Mae Bank – the retail banking arm of Sallie Mae – today announced it has been named a best online bank of 2015 by GOBankingRates, a leading personal finance site.
“Sallie Mae consistently delivers customers high interest rates on deposit products, a necessity for savers in this low interest rate environment,” said Casey Bond, managing editor of GOBankingRates. “Combine great rates with their participation in the innovative Upromise rewards program, and it’s clear Sallie Mae deserves to be named a top online bank for 2015.”
The GOBankingRates survey measured multiple criteria of FDIC-insured online banks, such as CD interest rates, savings account yield, fees, minimum balance requirements, customer service, and BauerFinancial Star overall financial strength.
Sallie Mae savings accounts offer free mobile banking, enabling customers to securely deposit checks, check balances, and transfer funds on the go. Account owners may also opt to receive mobile text alerts to check account balances and monitor transactions. Sallie Mae direct banking products are offered through Sallie Mae Bank and are FDIC-insured.
The Sallie Mae Bank 12-month certificate of deposit carries a low minimum deposit of $2,500 with a 1.15 percent annual percentage yield (APY), one of the nation’s leading rates. Sallie Mae Bank also offers a competitively priced 36-month certificate of deposit at 1.45 percent APY and a 60-month certificate of deposit at 2.10 percent APY. Sallie Mae Bank’s money market deposit account offers an interest rate at least 10 times the Bankrate.com national average rate. Sallie Mae Bank also offers a high-yield savings account with a 0.80 percent interest rate, 8 times the national average.
“Our mission is to provide customers with responsible, competitive and sound financial products and services to help meet their saving, planning, and paying for college goals,” said Paul Thome, president, Sallie Mae Bank. “This recognition reaffirms we are delivering on that mission and providing tools that can help families get on the financial path to college.”
Sallie Mae Bank is a subsidiary of SLM Corporation, commonly known as Sallie Mae. For more information or to open an account visit SallieMae.com/banking.
Join the conversation on how to save, plan and pay for college at Facebook.com/SallieMae.
GOBankingRates.com is a leading portal for personal finance news and features, offering visitors the latest information on everything from interest rates to strategies on saving money, managing a budget and getting out of debt. Its editors are regularly featured on top-tier media outlets, including U.S. News, Business Insider, Daily Finance, Huffington Post and more.
Sallie Mae (NASDAQ:SLM) is the nation’s saving, planning, and paying for college company. Whether college is a long way off or just around the corner, Sallie Mae offers products that promote responsible personal finance including private education loans, Upromise rewards, scholarship search, college financial planning tools, insurance, and online retail banking. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.
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