High-Yield Savings Account

Start earning more with a high-yield savings account and no monthly fees
Open an account

What is a high yield savings account?

With a high-yield savings account, you'll reach your goals faster by earning interest at a higher rate than a traditional savings account. Plus, there's no minimum balance or monthly fees.

Competitive interest rate on online savings accounts

4.20% APY (Annual Percentage Yield)footnote 1

compounded daily, paid monthly

Sallie Mae named one of the best savings accounts, money market accounts and CDs for 2022.

GOBankingRates named Sallie Mae as one of the top online banks, recognizing its products' high interest rate and no monthly fees.

More features of our High-Yield Savings Account

No minimum balance and no monthly maintenance fees

Free transfers

FDIC-insured for your peace of mind

Easy online account management

Have questions about our High-Yield Savings Account?

Call us at 

877-346-2756

Our normal business hours are 9 a.m. to 6 p.m. ET Monday through Friday.

footnote 1. Advertised Annual Percentage Yield (APY) for the Sallie Mae High-Yield Savings Account is variable and may change after account opening, applies to personal accounts only, and is accurate as of 11/25/2024. Fees could reduce earnings. Please refer to the Account Terms and Conditions Agreement for details.

footnote Deposit products are offered through Sallie Mae Bank, Member FDIC.

footnote SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE. CHECK SALLIEMAE.COM FOR THE MOST UP-TO-DATE PRODUCT INFORMATION.