Highest CD rate offered is 4.20% APY on a 2-year term
A 2-year CD from Sallie Mae offers the highest rate of 4.20% APY.
Historically, longer-term CDs had higher interest rates, but the current economic climate has reversed this trend.
For example, a $1,000 investment in a one-year CD with 1.52% APY would yield $15.20 in interest, totaling $1,015.20, while a 4% APY CD would yield $40.74 in interest, totaling $1,040.74.