---
title: "Sallie Mae Raises One-Year CD APY to 4.2% as Banks Compete for Deposits"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/297553963.md"
description: "Sallie Mae increased its one-year CD APY to 4.2%, outperforming the peer median of 3.95%. This move aligns with broader industry trends as competitors like Popular Direct, CIBC, and Marcus by Goldman Sachs also raise rates. The shift occurs amid market expectations of a Federal Reserve rate hike, with Fed funds futures indicating a 65% probability of a quarter-point increase at the September meeting."
datetime: "2026-08-31T19:24:43.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/297553963.md)
  - [en](https://longbridge.com/en/news/297553963.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/297553963.md)
generator: "portal-rs"
---

# Sallie Mae Raises One-Year CD APY to 4.2% as Banks Compete for Deposits

According to CNBC, Sallie Mae lifted the annual percentage yield on its one-year certificate of deposit by five basis points to 4.2% last week, putting the rate about 25 basis points above the peer median APY of 3.95%, according to BTIG analyst Vincent Caintic. Other firms are also advertising higher CD yields, including Popular Direct at 4.25% on a 12-month CD, CIBC at 4.15%, Synchrony Financial at 4.3% on a 16-month CD, Marcus by Goldman Sachs at a similar rate on its 18-month CD, and Happen Bank at 4.2% on an 11-month CD. The article also said Fed funds futures imply roughly a 65% chance the Federal Reserve will raise its benchmark lending rate by a quarter percentage point at its Sept. 15-16 meeting, to a range of 3.75% to 4%.

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**