GOBankingRates.com Recognizes Sallie Mae Bank as Best Savings Account and One of Best Online Banks
NEWARK, Del.--(BUSINESS WIRE)--Sallie Mae Bank — the retail banking arm of Sallie Mae, the nation’s
saving, planning, and paying for college company — was recently named
the Best
Savings Account of 2019 and one of the 10
Best Online Banks of 2019 by GOBankingRates.com,
a leading site for personal finance and consumer banking information.
“For the fifth straight year, Sallie Mae Bank’s banking products rank
among the best in the industry,” said Cameron Huddleston, Life + Money
columnist for GOBankingRates. “Whether you’re looking for an online bank
or a new savings account, it’s important to trust your finances with a
bank that offers competitive interest rates and low fees.”
GOBankingRates’ recognized Sallie Mae Bank’s high-yield savings account
based on its annual percentage yield (APY) — 2.10
percent APY — in addition to no monthly service fees, minimum
balance, or minimum deposit. The company was ranked among the 10 Best
Online Banks of 2019 for its 12-month certificate of deposit, currently
at 2.85
percent APY. The Bank recently surpassed more than $5 billion in
retail deposits.
“Whether you’re just starting out or working toward your next savings
target, we are committed to helping our customers save, plan, and
responsibly pay for college and other financial goals,” said Paul Thome,
president, Sallie Mae Bank. “We are proud that our high-yield savings
account was recognized and that our bank was ranked among the best.”
In addition to a high-yield savings account and certificates of deposit,
Sallie Mae offers a money market account, currently at 2.20
percent APY, and SmartyPig,
a goal-based, online, high-yield savings account. SmartyPig offers
competitive interest rates of up to 1.75
percent APY and allows customers to save using automatic monthly or
biweekly contributions or individual deposits, and then track progress.
Sallie Mae Bank, member FDIC, is a subsidiary of SLM Corporation,
commonly known as Sallie Mae. For more information or to open an
account, visit SallieMae.com/banking.
About GOBankingRates
GOBankingRates.com is a personal finance news and features website
dedicated to helping visitors Live Richer™. From tips on saving money to
investing for retirement or finding a good interest rate, GOBankingRates
helps turn financial goals into milestones and money dreams into
realities. Its content is regularly featured on top-tier media outlets,
including MSN, Yahoo!, AOL, Business Insider, CNBC, USA Today and dozens
of others. GOBankingRates specializes in connecting consumers with the
financial institutions and products that best match their needs. Start
your journey toward a rich mind and full wallet with us at www.gobankingrates.com.
About Sallie Mae
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, scholarship search, college
financial planning tools, 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.
