 Youll probably prefer Marcus for opening a CD. Its minimum deposit is lower than what Sallie Mae requires. In addition to its regular high-yield CD, Marcus also has a no-penalty CD that wont charge you if you withdraw funds from your CD early. If a no-penalty CD appeals to you, then you may want to consider Marcus. Laura Grace Tarpley is the associate editor of banking and mortgages at Personal Finance Insider, covering mortgages, refinancing, bank accounts, and bank reviews. She is also a Certified Educator in Personal Finance CEPF. Over her four years of covering personal finance, she has written extensively about ways to save, invest, and navigate loans. 