Money Market Account

Grow your money faster with a higher interest rate and no monthly fees
Open an account

What is a money market account?

With an online money market account, you earn interest at a higher rate than with a traditional savings account. Plus, you'll still have access to your money and can write checks from the account.

Competitive money market interest rate

3.90%APY (Annual Percentage Yield)footnote 1

Compounded daily, paid monthly

Sallie Mae named one of the best money market accounts and CDs for 2025.

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 Money Market Account

No minimum balance and no monthly maintenance fees

Write checks from your account

Free transfers

FDIC-insured for your peace of mind

Easy online account management

Have questions about our online Money Market 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. Annual Percentage Yield (APY) for the Sallie Mae Money Market Account is variable and may change after account opening, applies to personal accounts only, and is accurate as of 02/24/2025. 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.