Sallie Mae Online Savings Account Rate Top in the Nation
Sallie Mae is going big with their new online savings account promotion by offering 1.15% APY.
When the national average for savings accounts looms around just 0.20%, this is an offer you do not want to miss. Online savings account rates are known to be higher than traditional savings rates, however Sallie Mae trumps them all. Sallie Mae’s Online High-Yield Savings Account delivers an APY that is over 5 times the national average.
Sallie Mae is not only paying 1.15% APY, but they have partnered with Upromise to make it super easy to save for college by giving you cash back for everyday purchases.
Upromise is a big contender when it comes to rewards programs – you can get cash back from:
- Over 700 online stores
- More than 8000 restaurants
- 22,000+ grocery and drug stores
Two major benefits of the Upromise program are the ability to enroll your current credit cards into the program and the ability to transfer your cashback to your Sallie Mae Online Savings Account (other accounts don’t qualify) ANYTIME you have earned up to $10.
The amount of cash back you can earn depends on the merchant:
- Quicken Loans $250 for college
- DIRECTV $50 for college
- GoToMeeting.com $50 per subscription
- audible.com $12 per registration
- Qwest Communications $25 for college
- DentalPlans.com $24 per enrollment
- Verizon Wireless $18 per new subscription
- AT&T $18 for college
- Simply Audiobooks 34%
- Magazines.com 25%
As a bonus, if you open a Sallie Mae online Savings account with $5,000, set up an automatic monthly deposit of $25 into it, Upromise will match your rewards with an extra 10%.
Sallie Mae’s Online Savings Account has no monthly fees, and no minimum deposit/balance which means start-up is easy and fees won’t wipe out your returns.
Interest is compounded daily and credited monthly and best of all your money will be FDIC insured. When you open your online account, make sure to take advantage of Sallie Mae’s new Upromise program so you can save even more with access to thousands of coupons, cash back, and deals from leading retailers.
Spend less, save more. Get cash back when you do have to spend.
Learn more about the Sallie Mae savings account here and get double the benefits by using the Upromise program. Don’t let procrastination lead you to miss out on one of the highest national savings rates.
SallieMae Dream. Invest. Succeed.®
{ 4 comments… read them below or add one }
I tried two times to open an account with your company, filled out long pages, but in the end it did not work.
Problem was the withdroawal of the $0.40 from my CapitalOne Directbanking account. Of course, I was not given an account number yet from your company.
Erna Negandhi
RateCatcher is independent of Sallie Mae but I understand your frustration with the account opening process at Sallie Mae. I can help you through the process – use the contact form at http://www.ratecatcher.com/contact-us/ to get a hold of me.
IF I OPENED AN SAVING ACCOUNT OF 200.000 DOLLORS WITH SALLEY MAE I WOULD LIKE THE INTEREST TO BE SENT TO MY PERSONAL BANK ACCOUNT EACH MONTH IS THAT POSSIBLE TO HAVE THAT DONE.
Most savings accounts don’t offer a way to automatically withdraw the interest every month. Sallie Mae could be different but I doubt it.
You can contact Sallie Mae directly here: https://www.salliemae.com/content/contactus/index.asp
Certificates of Deposit will often allow you to have the interest sent to you on a regular basis. For example, Ally.com provides this service.
Depending on your age and circumstance, an immediate annuity or a variable annuity might be a better investment. For example, you withdraw 4 – 6% of your investment annually for life with an immediate annuity.
AnnuityFYI offers more info here:
http://www.annuityfyi.com/lifetime_income_benefit.html
{ 1 trackback }