Sallie Mae Bank CDs Review

Two CDs from FDIC-insured Sallie Mae Bank, 14 months at 4.10% and 10 months at 4.05%, opened through the Raisin marketplace with a $1 minimum.

By Michael Hewitt, Founder & Editor-in-Chief. Rates last checked October 12, 2026.

Our verdict

Raisin lists two Sallie Mae Bank CDs, 14 months at 4.10% APY and 10 months at 4.05%, each with a $1 minimum, held at an FDIC-insured bank. They are marketplace products: you open and manage them on Raisin rather than at Sallie Mae Bank, which lists different CDs on its own site, and the early-withdrawal penalty sits in the product terms rather than beside the rate. With two terms it fits a specific date, not a ladder.

Skip it if you want the penalty stated beside the rate, or a CD you open and manage at the bank itself.

About Sallie Mae Bank CDs

Two CDs from FDIC-insured Sallie Mae Bank, 14 months at 4.10% and 10 months at 4.05%, opened through the Raisin marketplace with a $1 minimum. Sallie Mae Bank CDs is offered by Sallie Mae Bank. We could not find a published customer rating for it on Trustpilot or the Better Business Bureau, so none is shown.

Best for: Savers who want a 10- or 14-month term from an FDIC-insured bank and are comfortable opening it through a marketplace.

Editorial grade: B (composite score 76/100).

Highlights

Raisin lists two Sallie Mae Bank CDs: 14 months at 4.10% APY and 10 months at 4.05% APY (Raisin's page prints "APY is accurate as of October 13, 2026"; we read it on October 12, 2026)
$1 minimum opening deposit and no platform fees; Raisin says the only fee on its platform is the early-withdrawal penalty on a fixed-term CD, set out in the product's terms
Where the money sits: Raisin says it does not hold customer funds and that a Custodial Bank holds them for your benefit at the bank you select, while its Sallie Mae page also says deposits are "held directly with Sallie Mae Bank"; both are quoted under Offer terms rather than chosen between

What we like

A $1 minimum, so any amount can start
FDIC insured at Sallie Mae Bank, with no platform fees from Raisin
One Raisin login can hold CDs from many banks, so a CD here can sit beside others

Where it falls short

You open and manage the CD on Raisin's marketplace, not at Sallie Mae Bank's own site, and Raisin says you do not become a direct customer of the bank
The early-withdrawal penalty is not shown beside the rate; it is in the product terms on Raisin, and we have not read the schedule for these two CDs
Raisin lists only two terms, 10 and 14 months; Sallie Mae Bank's own site lists CDs from 6 to 60 months with a $2,500 minimum and no 10- or 14-month term, so these two are available only through Raisin

Fees, minimums, and rates

Monthly fee: $0 monthly; early-withdrawal penalty applies. Minimum to open: $1. Current APY: 4.10%. Rates and fees last checked on October 12, 2026.

How we reviewed it

This is a desk review: we have not opened an account with Sallie Mae Bank. It is built from Sallie Mae Bank's published rates, fee schedule and terms and from the public complaint record, and compared with the other products in the Certificates of Deposit shortlist. Our bank-account reviews weight APY (30%), fees (20%), access and convenience (15%), account features (15%), trust and safety (10%), and customer support (10%). The rubric is the same for every brand.

The bank behind this account

Sallie Mae Bank, FDIC certificate 58177: capital, loan quality, every office and the complaint record.

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Read our full editorial methodology for how we review products.