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Sallie Mae Bank

For information concerning Sallie Mae Bank online bank, please click here .

Phone: 800 472 5543

ACH Number: 124085066

SWIFT Code: SLMYUS44XXX

Sallie Mae Bank is an FDIC insured institution headquartered at 175 S West Temple, Salt Lake City, UT 84101.
It was founded in 2005 and has approximately $30 billion in assets. Customers can open an account at one of its 1 branches.

Deposit Rates - December 16, 2025

SAVINGS RATES APY MIN
SAV
3.90% $0 Compare
SAV
3.90% $1 Compare
CD RATES APY MIN
6 Mo CD
3.90% $2,500 Compare
9 Mo CD
4.10% $2,500 Compare
12 Mo CD
4.00% $2,500 Compare
15 Mo CD
4.10% $2,500 Compare
18 Mo CD
3.95% $2,500 Compare
24 Mo CD
3.50% $2,500 Compare
36 Mo CD
3.90% $2,500 Compare
60 Mo CD
4.00% $2,500 Compare
MM RATES APY MIN
Money Market
3.85% $0 Compare




Overview 2025

General Bank Information

FDIC Insured Yes
FDIC Certificate # 58177
Date Established 2005
Assets $ 29.55 billion
Loans $ 21.22 billion
Deposits $ 20.81 billion
Capital $ 2.94 billion

Summary Balance Sheet as of June 30, 2025

ASSETS
Cash & Balances due from depository institutions $ 4.24 billion
Interest-bearing balances $ 4.22 billion
Total securities $ 1,650.66 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 21.22 billion
Loan loss allowance $ 1,478.08 million
Trading account assets $ 47.15 million
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles N.A.
All other assets $ 1,633.81 million
     Total Assets $ 26.61 billion

LIABILITIES
Total deposits $ 20.81 billion
      Interest-bearing deposits $ 20.76 billion
      Deposits held in domestic offices $ 20.81 billion
      % insured (estimated)" 94.22%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 4.23 billion
Subordinated debt N.A.
All other liabilities $ 412.16 millionn
      Total Liabilities $ 26.61 billion
      Shareholders’ Equity $ 2.94 billion

Summary Income Statement as of June 30, 2025

INCOME AND EXPENSES
Total Interest Income $ 1,317.77 million
Total Interest Expense $ 542.44 million
Net interest income $ 775.33 million
Provision for loan and lease losses $ 174.83 million
Total non interest income $ 246.85 million
Total non interest expense $ 286.66 million
Pre-tax Net Operating Income $ 680.06 million

Customer Reviews for Sallie Mae Bank (3)

Rated 1.00 stars out of 5 - based on 3 reviews

  • Called and asked them to match rates offered through save better for a 15 year client since directly offered rates are no longer competitive. Received nasty response. My only regret now is that I need to call back to close account (cannot do it online).

  • It is ludicrous in this day and age to have an account where it takes so long to get your money. This may be Sallie's racket, but I am out.

  • Sallie Mae is offering a 10-month no penalty cd at 1.85% and a 14-month no penalty cd at 2.20 on something called save better. These are like cash rates since the can be withdrawn after 6 days with no penalty, but if you are an existing customer (like me, for over 10 years) you cannot take advantage of these. They aren't available through the regular website.

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Branches

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Your current location is: Seattle, WA

Sallie Mae Bank Locations

Savings Comparison

This analysis is for demonstrative purposes only. Savings rates may go up or down, and CD rates may not be renewable for the length of the term of the analysis."

PRODUCT
BANK
BANK TYPE
STATE
AMOUNT
TERM
APY
VS.NATL'L AV.
MIN
MILES

Tax Rate: 30%

All calculations are for demonstration purposes only."

  • 1
    ONLINE SAVINGS
    Sallie Mae Bank
    Bank
    -
    $50,000
    N.A.
    3.90%
    17.26x (National Avg. - 0.23%)
    $0
    -
    SCENARIO
    Year Rate
    3.90%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 1,950 1,365
    2 51,950 2,026 1,418
    3 53,976 2,105 1,474
    4 56,081 2,187 1,531
    5 58,268 2,272 1,591
    6 60,541 2,361 1,653
    7 62,902 2,453 1,717
    8 65,355 2,549 1,784
    9 67,904 2,648 1,854
    10 70,552 2,752 1,926
    11 73,304 2,859 2,001
    12 76,162 2,970 2,079
    13 79,133 3,086 2,160
    14 82,219 3,207 2,245
    15 85,426 3,332 2,332
    16 88,757 3,462 2,423
    17 92,219 3,597 2,518
    18 95,815 3,737 2,616
    19 99,552 3,883 2,718
    20 103,434 4,034 2,824
    TOTAL $57,468 $40,228
  • 2
    ONLINE SAVINGS
    First Foundation Bank , ★ TOP PICK ★
    Bank
    -
    $50,000
    N.A.
    4.00%
    17.70x (National Avg. - 0.23%)
    $1,000
    -
    SCENARIO
    Year Rate
    4.00%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 2,000 1,400
    2 52,000 2,080 1,456
    3 54,080 2,163 1,514
    4 56,243 2,250 1,575
    5 58,493 2,340 1,638
    6 60,833 2,433 1,703
    7 63,266 2,531 1,771
    8 65,797 2,632 1,842
    9 68,428 2,737 1,916
    10 71,166 2,847 1,993
    11 74,012 2,960 2,072
    12 76,973 3,079 2,155
    13 80,052 3,202 2,241
    14 83,254 3,330 2,331
    15 86,584 3,463 2,424
    16 90,047 3,602 2,521
    17 93,649 3,746 2,622
    18 97,395 3,896 2,727
    19 101,291 4,052 2,836
    20 105,342 4,214 2,950
    TOTAL $59,556 $41,689


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