Compare Savings vs. CDs
Comparison of Deposit Account from Sallie Mae Bank with 4.95% - April 2024


Long-Term Analysis of Sallie Mae Bank with 4.95% APY

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.

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$
PRODUCT
BANK
APY
STATE
AMOUNT
TERM
BANK TYPE
VS.NAT.AV.
MIN
  • 1
    ONLINE CD
    4.95%
    -
    $50,000
    12 Month
    Bank
    8.90x (National Avg. - 0.56%)
    $2,500
     
    SCENARIO
    Year Rate
    4.95%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 2,475 1,733
    2 52,475 2,598 1,818
    3 55,073 2,726 1,908
    4 57,799 2,861 2,003
    5 60,660 3,003 2,102
    6 63,662 3,151 2,206
    7 66,814 3,307 2,315
    8 70,121 3,471 2,430
    9 73,592 3,643 2,550
    10 77,235 3,823 2,676
    11 81,058 4,012 2,809
    12 85,070 4,211 2,948
    13 89,281 4,419 3,094
    14 93,700 4,638 3,247
    15 98,339 4,868 3,407
    16 103,206 5,109 3,576
    17 108,315 5,362 3,753
    18 113,677 5,627 3,939
    19 119,304 5,906 4,134
    20 125,209 6,198 4,339
    TOTAL $81,407 $56,985

    All calculations are for demonstration purposes only.

    Featured CD Rates

    ONLINE BANKS APY? MIN?

    6 Month CD Special. Must be linked to a standard consumer or business checking account in which 12.6% of the total combined balance is maintained. Otherwise APY is 5.25%.

    Last change: ↑0.46% on December 15, 2023.
    3 Month CD.

    Last change: ↑0.60% on April 19.
    Warning: Early Withdrawal Penalty is 12 Months interest.

    Last change: ↑0.20% on September 8, 2023.
    6 Month CD.

    Last change: ↓0.05% on March 15.
    3 Month CD.