Sallie Mae Bank CD early withdrawal penalty

Sallie Mae Bank
CD early withdrawal penalty

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Published terms reviewed; calculation inputs still required

We have reviewed the published terms below. They do not establish every detail needed for a bank-specific dollar calculation, so the estimator requires your own agreement inputs. We do not fill those gaps with assumptions.

Certificates of Deposit

Sallie Mae Bank’s deposit agreement sets an early principal-withdrawal penalty of 90 days of simple interest for CDs with maturities of 12 months or less, and 180 days for longer maturities, calculated on the amount withdrawn subject to penalty. A shortfall beyond interest earned or already paid can be deducted from principal. Accrued and credited interest may be withdrawn without penalty. Its 10-calendar-day renewal grace period includes the maturity date and the following nine days.

The CD section describes a 365-day basis with a 366-day basis in leap years, so a permanent 365-day assumption would be incomplete. The agreement also describes possible penalty waivers, such as death or incompetence. A bank quote and the agreement applicable to the account remain necessary for a final fee.

TFS assisted source review: Aug 31, 2026 · Last source check: Aug 31, 2026 · Official source

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Estimate a full principal withdrawal before maturity. Amounts stay in this page and are not sent to TFS. Your institution must confirm eligibility and the final redemption quote.

Enter the terms from your disclosure

These are your inputs, not verified Sallie Mae Bank terms. This manual model supports simple days/months of interest or all interest earned. Percentage fees, tiered formulas, special minimums, and exceptions need an institution quote.

Penalty formulaPenalty daysInterest year basisCan the penalty reduce principal?

CD principal ($)Contractual annual interest rate (%)Use the interest rate on your CD agreement, not the advertised APY.Interest still on deposit and payable ($)Exclude interest already paid out. Use your institution’s current figure.

Compare holding this CD with reinvesting the proceeds until the same maturity date.I checked that these terms apply to my product, original term, and deposit date. This is a full withdrawal before maturity, outside any special withdrawal window. Any early-holding-period minimum has been accounted for.

Sallie Mae BankCD early withdrawal penalty

Published terms reviewed; calculation inputs still required

Certificates of Deposit

What would closing your CD cost?

Located source pages

Sallie Mae Bank
CD early withdrawal penalty