New SmartyPig App Helps Customers Grow Savings on the Go

SmartyPig, Sallie Mae’s Award-Winning Goal-Based Savings Account, Helps Individuals and Families Plan for and Save Towards Their Financial Goals

NEWARK, Del.--(BUSINESS WIRE)--Sallie Mae® has put saving for any financial goal at your fingertips with the new SmartyPig® app. Available on both Apple and Android devices, the new SmartyPig app helps account holders easily set new savings goals, make deposits and withdrawals, and manage their accounts – all from their mobile device.

SmartyPig is Sallie Mae’s free, FDIC-insured, goal-based savings account with competitive interest rates of up to 1.25 percent APY. Setting up an account takes only a few minutes; then it’s as simple as creating one or more goals, saving toward them using automatic monthly or biweekly contributions or individual deposits, and tracking your progress. Customers may add or withdraw funds at any time. To date, more than $5 billion has been saved by individuals and families through SmartyPig.

“Banking and planning for the future should be as accessible and seamless as the other activities families can do from their phones,” said Paul Thome, president, Sallie Mae Bank. “Our new app offers families a safe and secure way to do just that while tracking progress toward your financial goals. Whether saving for post-secondary education, funding a down payment on a home, or saving for a vacation, SmartyPig is there for you.”

Additional enhancements to the app are already in the works including the ability to refer a friend and earn rewards, set-up an automatic savings plan or emergency fund in one-click, and receive goal recommendations.

In addition to SmartyPig, Sallie Mae provides a variety of savings products, including money market accounts, certificates of deposit, and high-yield savings accounts. Sallie Mae Bank, member FDIC, is a subsidiary of Sallie Mae. All Sallie Mae Bank savings products, including SmartyPig, are FDIC-insured.

For more information, visit SmartyPig.com or SallieMae.com/banking.

Sallie Mae (Nasdaq: SLM) believes education and life-long learning, in all forms, help people achieve great things. As the leader in private student lending, we provide financing and know-how to help make college happen and offer products and resources to help customers make new goals and experiences, beyond college, possible. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.