Sallie Mae CD Rates

Although better known for student loans, the Sallie Mae CD rates come from the New Online CD by Sallie Mae. These are designed to help you achieve your goals by guaranteeing a great return on your investment and maximizing your earning power. There is no minimum deposit, no monthly fees, and no hidden charges.

SLM Corporation, commonly known as Sallie Mae, is a publicly-traded U.S. corporation whose operations are originating, servicing, and collecting on student loans. The Student Loan Marketing Association was originally created in 1972 as a government-sponsored enterprise (GSE) and began privatizing its operations in 1997, a process it completed at the end of 2004 when Congress terminated its federal charter, ending its ties to the government. The company remains the country’s largest originator of federally insured student loans. Through its specialized subsidiaries and divisions, Sallie Mae also provides debt management services as well as business and technical products to a range of business clients, including colleges, universities, and loan guarantors.

Sallie Mae’s New Online CDs are designed with no minimums and no monthly fees. With this institution, banking should be simple, rewarding and hassle-free. The Sallie Mae New Online 12 month CD has an APY of 1.50%. The 36 month CD has an APY of 2.20%. The 60 month CD has an APY of 3.00%. While the certificates of deposit require no minimum balance, you must have funds in your account in order for your account to earn the APY. The interest rate on your CD will be compounded daily and will be credited to your account on a monthly basis. Your CD automatically renews at maturity. At maturity, you will also have a 10 calendar day grace period in which you can withdraw funds from your account without penalty.

These CD rates were posted on 3/8/2010 and are still current as of 3/10/2010, and may change without notice. Visit their website for more details on the Sallie Mae CD rates.

Posted : March 10th, 2010 by Douglas

Tags: CD rates, certificate of deposit, investing, money, Sallie Mae

Comments (2)

2 Responses to “Sallie Mae CD Rates”

Edward Wittkamper Says:

Greetings,
I am Treasurer of Home Owners’Association and am requesting information about your Business CD Rates, if applicable.
Thank you.

Douglas Says:

Edward,
Please contact the home page of Sallie Mae for a quote
Douglas

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