Sallie Mae Bank Named Best Savings Account of 2019
NEWARK, Del.--(BUSINESS WIRE)--Jan 25, 2019--Sallie Mae Bank — the retail banking arm of Sallie Mae, the nation’s saving, planning, and paying for college company — was recently named the Best Savings Account of 2019 and one of the 10 Best Online Banks of 2019 by GOBankingRates.com, a leading site for personal finance and consumer banking information.
“For the fifth straight year, Sallie Mae Bank’s banking products rank among the best in the industry,” said Cameron Huddleston, Life + Money columnist for GOBankingRates. “Whether you’re looking for an online bank or a new savings account, it’s important to trust your finances with a bank that offers competitive interest rates and low fees.”
GOBankingRates’ recognized Sallie Mae Bank’s high-yield savings account based on its annual percentage yield (APY) — 2.10 percent APY — in addition to no monthly service fees, minimum balance, or minimum deposit. The company was ranked among the 10 Best Online Banks of 2019 for its 12-month certificate of deposit, currently at 2.85 percent APY. The Bank recently surpassed more than $5 billion in retail deposits.
“Whether you’re just starting out or working toward your next savings target, we are committed to helping our customers save, plan, and responsibly pay for college and other financial goals,” said Paul Thome, president, Sallie Mae Bank. “We are proud that our high-yield savings account was recognized and that our bank was ranked among the best.”
In addition to a high-yield savings account and certificates of deposit, Sallie Mae offers a money market account, currently at 2.20 percent APY, and SmartyPig, a goal-based, online, high-yield savings account. SmartyPig offers competitive interest rates of up to 1.75 percent APY and allows customers to save using automatic monthly or biweekly contributions or individual deposits, and then track progress.
Sallie Mae Bank, member FDIC, is a subsidiary of SLM Corporation, commonly known as Sallie Mae. For more information or to open an account, visit SallieMae.com/banking.
GOBankingRates.com is a personal finance news and features website dedicated to helping visitors Live Richer™. From tips on saving money to investing for retirement or finding a good interest rate, GOBankingRates helps turn financial goals into milestones and money dreams into realities. Its content is regularly featured on top-tier media outlets, including MSN, Yahoo!, AOL, Business Insider, CNBC, USA Today and dozens of others. GOBankingRates specializes in connecting consumers with the financial institutions and products that best match their needs. Start your journey toward a rich mind and full wallet with us at www.gobankingrates.com.
About Sallie Mae
Sallie Mae (NASDAQ: SLM) is the nation’s saving, planning, and paying for college company. Whether college is a long way off or just around the corner, Sallie Mae offers products that promote responsible personal finance, including private education loans, scholarship search, college financial planning tools, and online retail banking. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.
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CONTACT: Connor Peoples
KEYWORD: UNITED STATES NORTH AMERICA DELAWARE
INDUSTRY KEYWORD: TECHNOLOGY INTERNET PROFESSIONAL SERVICES BANKING FINANCE
SOURCE: Sallie Mae
Copyright Business Wire 2019.
PUB: 01/25/2019 01:03 PM/DISC: 01/25/2019 01:02 PM