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The goal of savings accounts is to save money. Banks today seem to be offering savings accounts with low APY’s and an excess of fees, which can make it hard to save any money. The is different than most banks and can actually help you save more of your money.
Benefits
This account is an online money market savings account offered through Sallie Mae Bank, which is currently offering . Compared to other savings accounts rates, this account is one of the best. The Sallie Mae online savings account allows you to write checks directly from you account, but only allows up to six withdrawals per month. Fees may apply if you exceed the number of withdrawals allowed each month. All electronic transfers are free for this account. Since this high-yield savings account by Sallie Mae is an online account, you can have easy access to your account anytime, day or night. This allows you to always be aware of the balance of your account. Sallie Mae bank savings accounts are FDIC insured, which means your money is protected even if the bank fails. This can help ease your mind, knowing your money will be there when you need it.
Save More Money
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This doesn’t have a minimum monthly balance you have to maintain, and it doesn’t have tiered interest rates. Your interest on the account is compounded daily and paid monthly. Since this Sallie Mae savings account doesn’t pay interest based on your account balance, your money will continue to gain interest, no matter what the balance on the account is. Another money saving benefit of the Sallie Mae high yield savings account is that it has NOmonthly fees . By offering an account with no fees, no monthly minimum balances, and interest rates that aren’t tiered, the Sallie Mae high yield savings account allows you to not only save all of the money you deposit into the account, but also helps you make more interest off your own money.
How to Apply
Applying for the high yield savings account through Sallie Mae is fast and easy and can be done online through . The APY offered through the Sallie Mae online savings account is considerably higher than other national banks. If you want to earn more money and have your money work for you, this account could be what you were looking for.
Compare the with other savings accounts and money market accounts available today on the rate comparison chart.
