About Sallie Mae Bank

Sallie Mae Bank makes education loans to students and their families as part of Sallie Mae's overall education loan business. Established in 2005, State-chartered Utah industrial bank.
Customer Service #

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Overall Rating

MyBankTracker Grade

A+
Customer Rating
Based on 14 Reviews
Financial Health
Based on Texas Ratio: 0.02
Bank Fees
vs. Average
Bank Rates
vs. Average
Mobile Deposits
Mobile Deposits
Mobile Banking
Quality of Mobile Services

Customer Reviews

Most Helpful Customer Reviews

Robert P's Profile Image

Reviewed by Robert P

Mar 4th 2011

5 out of 5 marks

Pretty good savings account & CD rates

Sallie Mae Bank has remained competitive as interest rates continue to dwindle. Their online experience isn't great, but it's pretty good. Pretty easy to open multiple accounts for multiple savings goals. ACH in/out seems reasonably fast.

Is this review helpful? ▲ Yes 3 ▼ No 0

b4u2's Profile Image

Reviewed by b4u2

Jul 15th 2011

3 out of 5 marks

Not worth fooling with...

I opened a savings account and deposited several thousand dollars. When I applied for one of their credit cards months later I was turned down. I'm now moving my savings to another bank.

Is this review helpful? ▲ Yes 3 ▼ No 0

KendraBest's Profile Image

Reviewed by KendraBest

Jan 26th 2014

1 out of 5 marks

Horrible

I have dealt with such horrible customer service since I have had a loan with sallie mae. I am not getting any help whatsoever and I suggest people who are considering a loan with these people to not do it. I have complained to the Ombundsman group and my next step is the Department of Education. I think it is unfair how these people have treated me. I have filled out numerous forbearance applications and income based repayment to help me not to get into default with these loans. They continue to mislead me and give me false information. I wish I never had to deal with them.

Is this review helpful? ▲ Yes 1 ▼ No 0

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Bank Rates

NAME RATE (APY) MIN TO EARN APY Min Deposit
High Yield Savings

0.80%

$0

$0

NAME RATE (APY) MIN TO EARN APY Min Deposit
Money Market Account

0.90%

$0

$0

NAME ANNUAL FEE INTRO APR REGULAR APR
Sallie Mae World MasterCard

$0

0.00%

13.99% - 22.99%

NAME ANNUAL FEE INTRO APR REGULAR APR
Sallie Mae World MasterCard

$0

0.00%

13.99% - 22.99%

TERM RATE (APY) Min Deposit
12 Month CD

0.90%

$0

36 Month CD

1.45%

$0

60 Month CD

2.10%

$0

Banking Fees

Type Fee National average
Monthly Inactivity

N/A

$7

Non-Sufficient Fund (Overdraft)

N/A

$30

Stop Payment item

N/A

$27

Return Deposit

$5

$14

Domestic Wire Transfer (Outbound)

N/A

$22

Domestic Wire Transfer (Inbound)

N/A

$9

Non-Bank ATM

N/A

$1