Sallie Mae Bank

Sallie Mae Bank is a Utah state-chartered bank with over 1,450 employees. The company provides education loans as well as savings and money market accounts, certificates of deposit and college savings plans to students and their families. It also offers credit and debit cards, insurance products, online banking and other services. There are no monthly or annual fees charged for the Sallie Mae accounts. As of June 30, 2026, Sallie Mae Bank had total assets of $28.5 billion and total deposits of $20.3 billion, compared with total assets of $19.3 billion, total deposits of $14 billion and loans of $17 billion at June 30, 2017. Sallie Mae Bank was established in 2005 and operates as a subsidiary of SLM Corporation.

Head office address:
175 S West Temple, Suite 600
Salt Lake City, UT 84101
United States
FDIC Certificate: 58177
Routing number: 124385119
Website: www.salliemae.com/landing/salliemaebank

Savings Account Rates

Money Market Rates

The Annual Percentage Yield (APY) as of September 17, 2026, the date carried on the rate disclosure published by Sallie Mae Bank. Deposit rates are subject to change. The Upromise GoalSaver account listed in the November 2017 rate table is no longer offered; the SmartyPig Savings Account has taken its place in the deposit range.

Certificate of Deposit Rates

As of September 8, 2026, Sallie Mae Bank advertised certificate of deposit yields ranging from 3.20% APY on a six-month term to 4.40% APY on the 36-month and 60-month terms.