Sallie Mae still offering best money market account rate
Of all the money market accounts (or online savings accounts) available online to consumers throughout the country, SallieMae continues to remain on top. Currently their MMA account provides an interest rate of 1.10% APY (national average sits at just 0.80% APY) and comes with absolutely no fees and no minimum balance requirements. SallieMae came on the savings scene earlier this year by offering online savings accounts and certificates of deposit.
As we mentioned in our first review of SallieMae’s online savings account, this interest rate, while currently on top, is a variable one and is subject to change at anytime without notice.
To open online you will need just your social security number and your drivers license. You can fund this account through several different ways, the most convient being an ACH transfer from a current bank.
Quick Facts from SallieMae:
- Earn 5X more on your savings
- No Minimum Balance — Easy to start
- No Monthly Fees — More Money to Save
- Daily Compounded Interest — It all Adds up
- FDIC Insured — Peace of Mind
- Deposits insured by the FDIC up to $250,000
Top Money Market Rates available online:
1) SallieMae Online Savings Account yielding 1.10% APY with $0 minimum deposit required.
2) Discover Bank Online Savings Account $500 minimum deposit required.
3) Capital One Online Savings Account $2,500 minimum deposit required.
* Interest rates change daily, please refer to the date of this article for accuracy.
