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Open an AccountGS Bank (Goldman Sachs Bank)


Most Popular Goldman Sachs Bank USA Accounts

Account TypeAPYAccount NameMinMax
Savings1.05%Online Savings--Details »
CD1.40%12 Month CD$500-Details »
CD1.90%3 Year CD$500-Details »
CD2.25%5 Year CD$500-Details »
View all Goldman Sachs Bank USA accounts »

Overview / Commentary
855-730-7283
200 West Street
New York, NY 10282

As of 2008, GS Bank is a commercial bank regulated by the Federal Reserve Board and insured by the Federal Deposit Insurance Corporation (FDIC). Thanks to its transition from an investment bank to a commercial bank, GS Bank offers deposit products to both individuals and institutions, including interest-bearing online savings accounts and Certificates of Deposit (CDs). GS Bank’s online savings accounts feature no minimum initial deposits to open. GS Bank’s CDs feature relatively low initial deposit requirements, as well as customizable monthly interest disbursements. That is, although interest will automatically be added to the principal of the CD, customers can choose to transfer the interest to their GS Bank savings account, or to an external bank account. Customers can also withdraw their interest penalty-free at any time. CD terms range from 6 months to 6 years.

All of GS Bank’s deposit accounts feature convenient access to online banking, banking by phone, bank transfers, and wire transfers. Although GS Bank is now an internet-only bank, funds can also be deposited via mailed checks. In addition to these depository banking products, GS Bank also offers personal loans through its “Marcus by Goldman Sachs” brand.

GS Bank (Goldman Sachs Bank) was established in 1990 as The Goldman Sachs Trust Company. The bank is owned by the Goldman Sachs Group, Inc., a multinational firm founded in 1869 and headquartered in New York, NY.

Related Posts

GS Bank Raises CD Rates for the Second Time in the Last Month - 5/4/2017

Another big internet bank raised its CD rates. GS Bank increased the rates on most of its CDs today. The most competitive CDs are now its 3-year CD and 1-year CD.

GS Bank Increases CD Rates - 4/5/2017

GS Bank raised most of its CD rates yesterday. There aren’t any exceptional rates, but it’s nice to see more rate hikes. 2.20% APY 6 Year (was 1.85%) 2.05% APY 5 Year (was 1.85%) 1.75% APY 4 Year (was 1.55%) 1.65% APY 3 Year (was 1.45%) 1.45% APY 2 Year (was 1.30%) 1.35% APY 18 mo (was 1.25%) 1.30% APY 1 Year (was 1.20%) 0.60% APY 6 mo (was 0.70%) A few of the noteworthy features: * Minimum deposit $500 * No partial early withdrawals * Early withdrawal penalties: 90 days interest for terms under 12 months, 270 days for terms of 12 months to 5 years, 365 days for terms of more than 5 years * Add up to six beneficiaries to each account Online savings account APY remains at 1.05% where it has been since GS Bank was established last April.

GS Bank (USA) Drops 5-Year CD Rate - 7/17/2016

GS Bank has dropped its 5-year CD rate from 2.00% APY to 1.85% APY.  So much for the "2% Club" (although Synchrony seems to be hanging in there).

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Great Bank For Savings

Posted by: gordon89 | May 16, 2017

Easy to use with good rates for OSA. Some pretty strong CD rates, but some could be better (not a big deal). A mobile app would be great, but tough to find in this space. Easy to get a live person on the phone.

Goldman Sachs

I personally have had Goldman Sachs Bank for well over a year. I enjoy the competitive products they give on savings accounts. I'm making a good amount of money on interest alone. I enjoy the simplicity of transferring money from checking to savings vice versa. It takes around 2 days before I can see the money in my account. I like the fact that security with the bank is also top notch so I don't have to worry about my money being stolen. Goldman Sachs is also very simple. They take the thrills out of saving money. The platform is easy to use over the computer and everything is outlined to easily see the text on their website. I overall recommend this bank to people looking to save their money in a no-thrills way.

There Goes GS Bank Too.

Posted by: youngsun | Apr 20, 2017

I have been a fan of GS Bank for a few years until now. Like any other online banks, GS Bank was honest at first, but it is getting more tricky everyday. GS Bank requires E-Sign for each CDs and Savings Account, which I didn't know this before. We have issued two CDs in our Savings Account, therefore I and my husband, each of us had to have three E-Signs, it is like we both have three different accounts. Worst part is that my husband was asked E-Sign for only one CD that was issued recently, but He E-Signed one more thing that we can't tell what it is, GS Bank told us that even though it is the same CD, if we both don't E-Sign at the same time, it will have a different CD reference number, and then failed to tell me what one more thing that my husband signed, since it is a bogus one. This is very disturbing to me, since we have a lot of money at GS Bank, and I praised this bank on this website before. It said "E-Sign for your CD to get the maximum FDIC coverage" it means that if I die, my husband will not get all, almost a half million in our account, only for one CD he E-signed. GS Bank has changed its system last weekend, therefore I can't see our "disabled" SSN in beneficiary by clicking on it, when I tried to confirm it still contains the right number, system kicked me out and took about 25 minutes to fix it by receiving about 10 different security codes through E-Mail.

Always, pay attention to little changes and never let your guard down. Most of all, support CFPB and use it when you have a problem with only FDIC insured Banks. not credit union banks. I can't put money in the bank without CFPB's back up nowadays. Let's educate each other more by writing our experience.

Terrific online savings that does exactly what it's says it will do.

Posted by: glencarney | Mar 8, 2017

I have been using Goldman Sachs online banking for a couple of years now. It used to be GE online savings first (General Electric), but it has since changed now to Goldman Sachs. I have an online savings account where I make 1.05% interest on what I have in my account. When it comes to online savings accounts, I don't think that you will find a better rate then this out there. I have never had a problem transferring my money from my main checking into and out of this online savings account. The procedure is simple and is done the way most people expect. Whenever I have had any questions for customer service, I usually e-mail them. They will usually answer back within a couple of days and I'm ok with that. There is only a $1.00 minimum to have this account open and there is no "monthly fee" hidden anywhere here. I would recommend this online savings account to people who have a lot of extra money sitting in an account where they are making no interest at all. Let your money make money for you is what I always say. Interest payments are added to your account on the 1st of the month usually.

VIEW MORE REVIEWS

Health
A+

Health Grade Components

Overall
FDIC Certificate #33124
Year Established1990
Employees940
Primary RegulatorFED
Profit Margin
Return on Assets - YTD0.85%
Return on Equity - YTD5.39%
Annual Interest Income$788.0MM
Assets and Liabilities
AssetsQ1 2017vs Q1 2016$156.2B$143.4B
LoansQ1 2017vs Q1 2016$47.57B$49.95B
DepositsQ1 2017vs Q1 2016$110.7B$92.80B
Equity CapitalQ1 2017vs Q1 2016$24.95B$23.50B
Loan Loss AllowanceQ1 2017vs Q1 2016$219.0MM$250.0MM
Unbacked Noncurrent LoansQ1 2017vs Q1 2016$303.0MM$99.0MM
Real Estate OwnedQ1 2017vs Q1 2016$24.0MM$0
  User-submitted Promotions & Notices

This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.

GS Bank Increases CD Rates

Ken Tumin   |  
GS Bank raised most of its CD rates yesterday. There aren’t any exceptional rates, but it’s nice to see more rate hikes.

2.20% APY 6 Year (was 1.85%)
2.05% APY 5 Year (was 1.85%)
1.75% APY 4 Year (was 1.55%)
1.65% APY 3 Year (was 1.45%)
1.45% APY 2 Year (was 1.30%)
1.35% APY 18 mo (was 1.25%)
1.30% APY 1 Year (was 1.20%)
0.60% APY 6 mo (was 0.70%)

A few of the noteworthy features:
* Minimum deposit $500
* No partial early withdrawals
* Early withdrawal penalties: 90 days interest for terms under 12 months, 270 days for terms of 12 months to 5 years, 365 days for terms of more than 5 years
* Add up to six beneficiaries to each account

Online savings account APY remains at 1.05% where it has been since GS Bank was established last April.

Rates
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Goldman Sachs Bank USA Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.05%--Online Savings

Goldman Sachs Bank USA CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.30%$500-6 Year CD
2.25%$500-5 Year CD
1.90%$500-3 Year CD
1.80%$500-4 Year CD
1.55%$500-24 Month CD
1.45%$500-18 Month CD
1.40%$500-12 Month CD
0.70%$500-9 Month CD
0.60%$500-6 Month CD
Locations

Goldman Sachs Bank USA is an Internet only bank and does not have branch locations. Its headquarters is located at 200 West Street - New York, NY 10282