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Best CD Rates: Sallie Mae Bank CD Rates 12 Month CD Rates at 1.19%

Best CD Rates: Sallie Mae Bank CD Rates 12 Month CD Rates at 1.19%

The banking division of the student loan company Sallie Mae is still offering some of the best CD rates available right now. Sallie Mae Bank is advertising bank CD rates in terms of only 12 months, 36 months and 60 months. Of course the bank's highest CD rates are on 60 month certificates of deposit.

5 year CD interest rates are currently at 2.07% with a CD interest yield of 2.09%. While that rate isn't the highest CD rate available on a 60 month certificate of deposit that rate does beat most rates.

Find the best CD rates at banks by searching here: CD Rates at Banks.

Sallie Mae Bank’s 12 month CD rates are currently advertised at 1.19% with a CD yield of 1.20%. That rate is sightly higher than 12 month CD rates at Ally Bank which are currently at 1.18% with a CD yield of 1.19%. Sallie Mae Bank CD rates are lower since we first reported on their rates a year ago. Just over a year ago 12 month CD rates were at 1.54% with yields at 1.55%.

36 month bank CD rates at Sallie Mae are advertised at 1.29% with a bank CD yield of 1.30%. Sallie Mae Bank's best CD rate deal is on their 12 month certificate of deposit so you're better off investing in the 12 month term.

Certificate of Deposit Account Information and Benefits

  • CD Interest is compounded daily and credited to the account monthly.

  • Early withdrawal penalties are 3 months of simple interest for certificate of deposit accounts 12 months or less.

  • Early withdrawal penalties for certificate of deposit accounts greater than 12 months are 6 months simple interest.

  • Certificate of deposit accounts are insured by the Federal Deposit Insurance Corporation for up to $250,000.

  • Sallie Mae’s FDIC Cert number is 58177.

  • No hidden charges

  • No minimum balance and no monthly fees

Author: Robert Till
August 20th, 2011