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Open an AccountGS Bank (Goldman Sachs Bank)


Most Popular GS Bank (Goldman Sachs Bank) Accounts

Account TypeAPYAccount NameMinMax
Savings1.05%Online Savings--Details »
CD1.30%12 Month CD$500-Details »
View all GS Bank (Goldman Sachs Bank) 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 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).

12-Month CD Rate - 7/8/2016

Am I wrong, or did GS Bank just raise its 12-month CD rate to 1.20% APY? I haven't been following this maturity at all closely, but the last I remember it was at 1%, 1.05% or something around there.  5-year rate is still at 2% APY, thanks for small favors.  

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Put Your Savings at GS Bank

GS Bank is where I do the majority of my savings. Their interest rates are better than anyone that I have ever banked with in the past. I place my large personal savings accounts with them. I have been with them since they were GE Capital bank, before Goldman Sachs bought them out and have only had to contact them once since Goldman Sachs purchased them. I tend to get 12 and 24 month CDs through them along with my online savings account. Every time I let a CD mature I need to contact them to let them know what to do with the CD. Each time I do this the process is quick and takes less than 5 minutes. I always get great support and help from the people as they seem to be located in the Untied States, and can take care of my requests easily. The only thing I wish they had was a GS Bank mobile app. All of my other bank accounts have a mobile app I can use to check on my accounts with, but GS Bank does not. That is the only thing I wish that they would add. Other than that I'm exceptionally happy with GS bank, and recommend them to anyone looking for a good savings account!

Gsbank Not Ready For Prime Time

Posted by: wilserv | Apr 27, 2016

I'm an Ally customer but always willing to take advantage of a better rate so I opened an account with GSBank. I made some errors setting up the account so I had to call customer service. My errors were corrected BUT C/S DOES have problems:
1) One time I was hung up on while waiting for a rep
2) C/S not 24/7 like Ally
3) No estimated wait time
There's a BIG problem with the site, IMHO, as there is NO available balance value in the data displayed for your account. Initially I transferred in $30 as a test. Account balance showed as $30 but attempts to withdraw $25 or $15 failed. When queried, C/S said funds become available after 5 business days. No way to know that from info available on the site.

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.

Real Bad Experience

Tried to Open and On line savings Acct at GS , spent the 15 minutes typing everything for joint acct , then pass words , then secret names on and on.

Hit enter then I got we cannot open an account. , basically got rejected but no one can tell me why , did I enter something wrong or what .

Customer Service Rep said try Monday , I said you mean re enter everything without knowing where the error was or why ? They said yes.

Been married 39 years , same house for 17 , etc , just trying to open a simple savings account . But this system of rejecting without giving you a chance to fix is crazy . You have no idea how to fix.

VIEW MORE REVIEWS

Health
A+

Health Grade Components

Overall
FDIC Certificate #33124
Year Established1990
Employees861
Primary RegulatorFED
Profit Margin
Return on Assets - YTD0.96%
Return on Equity - YTD6.1%
Annual Interest Income$2.70B
Assets and Liabilities
AssetsQ4 2016vs Q4 2015$159.1B$134.7B
LoansQ4 2016vs Q4 2015$47.00B$47.71B
DepositsQ4 2016vs Q4 2015$114.8B$88.13B
Equity CapitalQ4 2016vs Q4 2015$24.61B$23.19B
Loan Loss AllowanceQ4 2016vs Q4 2015$219.0MM$189.0MM
Unbacked Noncurrent LoansQ4 2016vs Q4 2015$167.0MM$61.0MM
Real Estate OwnedQ4 2016vs Q4 2015$6.0MM$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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GS Bank (Goldman Sachs Bank) Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.05%--Online Savings

GS Bank (Goldman Sachs Bank) CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.20%$500-6 Year CD
2.05%$500-5 Year CD
1.75%$500-4 Year CD
1.65%$500-3 Year CD
1.45%$500-24 Month CD
1.35%$500-18 Month CD
1.30%$500-12 Month CD
0.70%$500-9 Month CD
0.60%$500-6 Month CD
Locations

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