175 S West Temple
Salt Lake City, UT 84101
Phone: 800 472 5543
| FDIC Insured | Yes |
| FDIC Certificate | # 58177 |
| Date Established | 2005 |
| Assets | $27.60 billion |
| Loans | $23.50 billion |
| Deposits | $20.01 billion |
| Capital | $2.99 billion |
Sallie Mae Bank is an FDIC insured institution located in Salt Lake City, UT. It was founded in 2005 and has approximately $27.6 billion in assets.
For a more detailed analysis of Sallie Mae Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.
Your Current Location: Virginia, VA 20146
| Savings and Money Market Rates | APY | MIN | MAX | |
|---|---|---|---|---|
|
Money Market
|
2.15% | $0 | - | Learn More |
| CD Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| 6 Month CD
|
2.20% | $2,500 | - | Learn More |
| 12 Month CD
|
2.45% | $2,500 | - | Learn More |
| 18 Month CD
|
2.45% | $2,500 | - | Learn More |
| 24 Month CD
|
2.45% | $2,500 | - | Learn More |
| 36-Month CD
|
2.50% | $2,500 | - | Learn More |
| 60 Month CD
|
2.50% | $2,500 | - | Learn More |
Sallie Mae Bank has raised its 1-year online CD rate to 2.85%. Their CDs have a $2,500 minimum and have a 3-month early withdrawal penalty should you need to withdraw your money before maturity.
Sallie Mae has raised its online money market rate from 2.20% to 2.30%.
Sallie Mae has dropped its money market rate from 2.30% to 2.20%. Its 1-Year CD had been attractive at 2.75%, but is now 2.65%.
Your Current Location: Virginia, VA 20146
There are currently no loan rates available for Sallie Mae Bank
Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:
| Lender | APR | Rate (%) | Points | Fees | Monthly Payment |
Learn More |
|---|---|---|---|---|---|---|
NMLS ID: 3030 |
4.990% | 4.990% | 0.00 | $0 | $1,341 | Learn More |
NMLS ID: 3030 |
4.875% | 4.875% | 0.00 | $0 | $1,324 | Learn More |
NMLS ID: 2890 License#: MC-3098 |
3.536% | 3.500% | 0.50 | $1,108 | $1,123 | Learn More |
| Lender | APR (%)? | Monthly Payment? | Learn More |
|---|---|---|---|
Figure Home Equity Line |
0.000 %
|
$0 |
Learn More
More Info |
Note to Sallie Mae Bank
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Sallie Mae Bank branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.
Your Location:
Ashburn,Virginia
The following ratios and data are available to help you better understand the financial condition of Sallie Mae Bank. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.
| Sallie Mae Bank | U.S. Bank Average |
|---|---|
| 3.7% | 6.94% |
The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its the bank’s tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.
As of March 31, 2019, Sallie Mae Bank had $123,814,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $2,991,702,000 in equity and $358,325,000 in loans loss reserves. That gives it a Texas Ratio of 3.7%.
| Sallie Mae Bank | U.S. Bank Average |
|---|---|
| 23.05% | 9.47% |
Sallie Mae Bank has a Return on Equity of 23.05% versus the BestCashCow average of 9.47%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.
| Sallie Mae Bank | U.S. Bank Average |
|---|---|
| 10.84% | 12.49% |
Sallie Mae Bank has a Capitalization of 10.84% versus the BestCashCow average of 12.49. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.
As of March 31, 2019, Sallie Mae Bank had assets of $27,601,911,000, loans of $23,503,601,000, and deposits of $20,014,513,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.
| ASSETS | |
|---|---|
| Cash & Balances due from depository institutions | $2.26 billion |
| Interest-bearing balances | $2.23 billion |
| Total securities | $0.21 billion |
| Federal funds sold and reverse repurchase | $0.00 billion |
| Net loans and leases | $23.50 billion |
| Loan loss allowance | $0.36 billion |
| Trading account assets | $0.00 billion |
| Bank premises and fixed assets | $0.00 billion |
| Other real estate owned | $0.00 billion |
| Goodwill and other intangibles | $0.00 billion |
| All other assets | $1.52 billion |
| Total Assets | $24.61 billion |
| LIABILITIES | |
|---|---|
| Total deposits | $20.01 billion |
| Interest-bearing deposits | $20.01 billion |
| Deposits held in domestic offices | $20.01 billion |
| % insured (estimated) | 95.08% |
| Federal funds purchased and repurchase agreements | $0.00 billion |
| Trading liabilities | $0.00 billion |
| Other borrowed funds | $4.28 billion |
| Subordinated debt | $0.00 billion |
| All other liabilities | $0.32 billion |
| Total Liabilities | $24.61 billion |
| Shareholders’ Equity | $2.99 billion |
| INCOME AND EXPENSES | |
|---|---|
| Total Interest Income | $0.57 billion |
| Total Interest Expense | $0.16 billion |
| Net interest income | $0.40 billion |
| Provision for loan and lease losses | $0.07 billion |
| Total non interest income | $0.01 billion |
| Total non interest expense | $0.12 billion |
| Pre-tax Net Operating Income | $0.22 billion |
The top three loan types in Sallie Mae Bank’s loan portfolio are 1-4 Family Residential Loans, Multifamily Mortgages, and Credit Card Loans.
Compared to other banks, Sallie Mae Bank’s loan portfolio does not show any specific loan specialty.
Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.
| % Loans |
% Comparison to Other Banks |
|||
|---|---|---|---|---|
| Low | Med | High | ||
| 1-4 Family Residential Loans | 0.00 | ✓ | ||
| Multifamily Mortgages |
0.00 | ✓ | ||
| Credit Card Loans | 0.00 | ✓ | ||
| Consumer Auto Loans | 0.00 | ✓ | ||
| Small Business Loans | 0.00 | ✓ | ||
| Construction and Development Loans | 0.00 | ✓ | ||
| Commercial Real Estate | 0.00 | ✓ | ||
| Commercial and Industrial Loans | 0.00 | ✓ | ||
| Farm Loans | 0.00 | ✓ | ||
Yes. It is covered under FDIC Certificate #58177.
See the best online savings rates here. See the best local savings rates here.
See the best online CD rates here. See the best local CD rates here.
Yes
Compare home equity lines of credit rates here.
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Last Update on September 21, 2019
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Rucksizer
December 06, 2018 |
I have been pretty happy with Sallie for many years. The MM account is now paying 2.20%. They have been bombarding me with emails to get me to open a Smartypig account with them that pays 1.75%. Why would they send me these emails and why would I do that?
Is this review helpful? Yes:0 / No: 0
Just OK
November 25, 2018 |
I have a money market account with Sallie Mae. I enjoy consistently making one of the highest rates here. There are three things I really do not like. First, you need to transfer money in or out on a Tuesday. They don't do transfers on Monday, and any transfer later in the week won't be credited until the following week. Second, the hold times are odd. Deposits over $5,000 are on hold for 2 weeks. Third, they are always trying to convince me to switch my money to something stupid called Smarty Pig which pays a lower rate. If you cannot put up with these three odd things, this one is not for you.
Is this review helpful? Yes:1 / No: 0
Transfer times
September 10, 2018 |
I have been very happy with Sallie's rates, but I cannot stand the transfer process. If you set up an incoming "immediate transfer", you don't see the date until you confirm the transaction and the date is 2 days later. Outgoing immediate transfers are also one day longer than Ally or Purepoint. Those get 5 stars. This one only three.
Is this review helpful? Yes:0 / No: 0
Ilaria DeFrago
August 18, 2018 |
We have an account here and it has always been as good as any of the other ones.
Is this review helpful? Yes:0 / No: 0
8-year customer
July 07, 2018 |
Worse still, if you set up a transfer on a Thursday, the money will be pulled from your other account immediately, but you won't be credited until the following Monday. And, you don't know that they are doing this until you enter "immediate transfer" and get the confirmation and cannot cancel it. The rates are always good and I have never had any problems but this should be illegal!
Is this review helpful? Yes:3 / No: 0
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