Each Sallie Mae CD offers competitive interest rates. The rates are competitive with other online CD accounts. Sallie Mae rates are much higher than typical bank rates. The longer the CD term the higher the interest rates offered. Sallie Mae’s five-year CD offers very competitive interest rates.

Sallie Mae offers a good variety of CD terms. The terms range from 6-months to 60-months. There are 11 CD terms in total. Sallie Mae offers CD terms in more than just traditional terms. Those term lengths include an 11-month CD, a 13-month CD, a 15-month CD, and a 30-month CD. These options allow customers to find the best fit for their money.

The CD interest rates for Sallie Mae CDs are not tiered. You do not have to have a large account balance to earn the most competitive rates available. Any balance above the required opening amount earns competitive interest rates.

Most CDs have a fee if you withdraw the money before the CD reaches maturity. The penalty for Sallie Mae CDs is less compared to other banks CD fees. The penalty for withdrawing money from CD terms 12-months or less is 90 days of interest. The fee for CDs over 12-months is 180 days of interest.

There is a set amount required to open Sallie Mae CDs. Each of the CD terms requires $2,500 to open. Make deposits through an electronic transfer or an e-deposit on the mobile app. You can also mail a check.

To earn interest on the Sallie Mae CDs, you must keep an account balance of $2,500. If your balance drops below that amount, you will not earn any interest. Sallie Mae CDs offer competitive interest rates if you keep that set balance.

Sallie Mae CDs do not come with a guarantee to lock in the best rate. The interest rate at the time you open the CD is the interest rate you receive for the life of the term. The rate you lock in is fixed for the life of the CD term.

Sallie Mae CDs must be linked to an external account to make electronic transfers. Once you link an external account, you can transfer money electronically. Customers can withdraw earned interest from the CD. To withdraw the interest, transfer the money into the linked external account.

Read the full Sallie Mae review.

There are a good variety of CD terms available with TAB Bank. The terms range from six months to five years. There are eight total CD terms offered through TAB Bank. You can open any of the TAB Bank CDs online.

Each of the CD terms available through TAB Bank offers competitive interest rates. The rates are competitive with other online CD accounts. These interest rates are much higher than typical bank rates. If you withdraw money or close your TAB Bank CD before the interest credits to your CD, you will not earn the interest.

The CDs offered through TAB Bank have low opening required amounts. Each CD term only requires $1,000 to open. You must keep a balance of $1,000 to earn interest on the CDs. Balances below this amount will not earn interest.

The penalty for withdrawing money before the maturity date for TAB Bank CDs is low. For CD terms 12 months or less, the fee is 90 days of interest on the withdrawn amount. For CDs greater than 12 months, the fee is 180 days of interest on the withdrawn amount.

TAB Bank does not offer an interest rate guarantee. The interest rates on the day you open the CD is the rate you receive through the life of the CD term. If the interest rates increase shortly after you open the CD, you will not receive a higher rate.

TAB Bank offers a mobile app. The app is for checking and savings accounts. You can make transfers between these two accounts, but not to CD accounts.

Some of the interest rates for TAB Bank CDs may be promotional. The disclaimer says the offer is good on new CDs only. Check with customer service to see what interest rates are promotional to new CDs only.

TAB Bank is an online bank. Customer service is not available 24/7. They have specific hours. You can reach customer service through phone, email, or mail. Their hours are Monday through Friday from 6 a.m. to 7 p.m. MT. They are open on Saturday from 9 a.m. to 3 p.m. MT. You can follow TAB Bank on Facebook, Twitter, LinkedIn, YouTube, and Instagram.

Read the full TAB Bank review.