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- Sallie Mae Bank (Member FDIC) is an online bank that offers savings accounts, a money market account, and CDs.
- The SmartyPig savings account lets you name individual savings goals and set deadlines.
- The bank doesn’t have a checking account, so you’ll have to transfer funds to an external bank account to access your savings, which could take a couple business days.
- Sallie Mae pays competitive rates on its savings and money market accounts, but you can find better CD rates elsewhere.
- See Business Insider’s picks for the best CD rates »
You might like Sallie Mae if you:
- Are comfortable banking digitally
- Want to earn a competitive APY on a