Sallie Mae Bank is currently offering their UPromise GoalSaver Savings account with a .85% APY attached as “Motivation to Reach Your College Savings Goals.” This is an account that is already specifically designed to offer the utmost savings for school and related expenses in the most simplistic way possible considering you’ll have features to help you set, visualize and track your progress with the ability of also setting up multiple goals. UPromise will offer you a 10% match-up on earnings and more cash rewards, as well as no monthly fees, no minimum balance requirement, and so much more!
Editor’s Note: Keep reading on to learn more about their annual and loyalty bonus as well as how to earn the 10% match-up!
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Sallie Mae Bank UPromise GoalSaver Account Summary:
- Apply Now
- Account Type: UPromise Goalsaver
- Rate: .85% APY5
- Availability: Nationwide
- Expiration Date: None
- Soft/Hard Pull: Soft Pull
- Direct Deposit Requirement: None
- Additional Requirements: None, but to qualify for 10% match you must (a) link your Upromise GoalSaver Account to your Upromise Rewards Account, and (b), you either meet the $5,000 average daily balance minimum funding requirement, or you meet the 10 externally funded credit/deposit requirement in the anniversary year.
- Monthly Fee: None
- Early Termination Fee: None
Sallie Mae Bank UPromise GoalSaver Savings Account Features:
- 0.85% APY (Annual Percentage Yield)2
- 10% Match on Upromise earnings + more cash rewards1
- Earn $10 every year just for making regular deposits
- $100 for keeping your account active for 3 years
- No Monthly Fees and no minimum balance
- Set up automatic deposits
- FDIC insured
- Share your goals with family and friends
Sallie Mae Bank Match-Up Requirements:
- Firstly, open a new UPromise College GoalSaver Savings account
- In order to meet the requirements for a 10% match-up, you must:
- Link your Upromise GoalSaver Account to your Upromise Rewards Account
- Meet the $5,000 average daily balance minimum funding requirement
- OR meet the 10 externally funded credit/deposit requirement in the anniversary year.
- You must maintain that average balance in your Upromise GoalSaver Account for the duration of the anniversary year for which your transferred earnings will be matched.
- You will receive the match-up every anniversary year if qualifications are met.
Sallie Mae Bank Loyalty Requirements:
- Firstly, open a new UPromise College GoalSaver Savings account
- To earn Loyalty $100 Bonus:
- Maintain at least $0.01 up until the day before the 3rd anniversary date
- A $5,000 balance must be reached by and remain in the account on the 3rd anniversary date
- Upromise GoalSaver Account must be in an open status at the time of bonus posting.
- $100 will post to your Upromise GoalSaver Account within 60 days of the completion of the 3rd year anniversary
Sallie Mae Bank Anniversary Bonus Requirements:
- Firstly, open a new UPromise College GoalSaver Savings account
- To earn $10 Annual Bonus:
- Must have at least 10 deposits post to your Upromise GoalSaver Account during the previous 12 calendar months in an amount not less than $10 each deposit
- Your account must be in an open status at the time of bonus posting.
Conclusion:
Sallie Mae Bank offers a decent .85% APY, pretty nice APY for a college savings account, besides the .85% APY, I believe that the most beneficial aspect of this account is their annual-loyalty bonus in which you can earn yourself a 10% match-up, $10 anniversary, and $100 Loyalty bonus after completing the necessary requirements. Definitely something worth taking advantage of if you’re a college student looking to save and reach that college saving goal much faster. Your money is FDIC insured and there are no minimum balance requirements, monthly maintenance fees, or state residency requirements. Find all the best savings rates from our exclusive list nationwide!