Marcus by Goldman Sachs

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written by Ken Tumin
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Banks and credit unions are battling it out for deposits...\r\nSee More\r\n

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Banks and credit unions are battling it out for deposits. Competition among financial institutions provides investors a broad menu of choices when it comes to certificates of deposit (CDs). We track daily rates from thousands of institutions to help you compare the best CD rates and find the best deal on your next CD. This table compares CDs of all maturities, making it easy to find the highest CD rate regardless of term. The highest rate CD often doesn’t have the longest term.

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Banks and credit unions are battling it out for deposits. Competition among financial institutions provides investors a broad menu of choices when it comes to certificates of deposit (CDs). We track daily rates from thousands of institutions to help you compare the best CD rates and find the best deal on your next CD. This table compares CDs of all maturities, making it easy to find the highest CD rate regardless of term. The highest rate CD often doesn’t have the longest term.

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Compare rates on 6 month CDs from banks and credit unions. Use the filter box below to customize your results. Click here to read more about features and tips related to 6-month CDs.

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Overview / Commentary
212-902-1000
200 West Street
New York, NY 10282

In December 2017, Goldman Sachs Bank USA re-branded to Marcus by Goldman Sachs - Goldman Sachs Bank USA. Marcus is the name the company had been using exclusively for their online lending business. The deposit offerings renamed the same, but Goldman rolled out a new and improved mobile experience with the new brand.

As of 2008, Goldman Sachs Bank USA, a DepositAccounts.com advertiser, 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, Marcus offers deposit products to both individuals and institutions, including interest-bearing online savings accounts and Certificates of Deposit (CDs). Their online savings accounts feature no minimum initial deposits to open. Their 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 Marcus 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 Marcus’s deposit accounts feature convenient access to online banking, banking by phone, bank transfers, and wire transfers. Although they are an internet-only bank, funds can also be deposited via mailed checks..

Marcus by Goldman Sachs - Goldman Sachs Bank USA 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

Marcus CD Rates As Of 11-2-2023 - 11/2/2023

Marcus by Goldman Sachs direct CD rates (APY) offered as of 12:15 pm EDT 11-2-2023 include: 6-month @ 5.10% (was 4.90%) 9-month @ 5.15% (was 5.00%) 12-month @ 5.30% (was 5.20%) 13-month NP @ 4.60% (no change) 18-month @ 5.25% (was 5.15%) 2-year @ 4.85% (was 4.60%) 3-year @ 4.40% (no change) 4-year @ 4.20% (no change) 5-year @ 4.10% (no change) 6-year @ 4.00% (no change) For more information regarding Marcus by Goldman Sachs direct CDs see: https://www.marcus.com/us/en/savings/high-yield-cds https://www.marcus.com/us/en/savings/no-penalty-cds Goldman Sachs Bank new issue, non-callable brokered CD rates (APR) offered at Fidelity and Vanguard as of 12:15 pm EDT 11-2-2023 include:  3-month @ 5.30%  9-month @ 5.45%  1-year @ 5.45%

Marcus CD Rate Changes For 10-13-2023 - 10/13/2023

Marcus CD rates (APY) as of 10-13-2023 include: 6-month CD @ 4.90% (no change) 9-month CD @ 5.00% (no change) 12-month CD @ 5.20% (was 5.10%) 13-month NP CD @ 4.60% (no change) 18-month CD @ 5.15% (was 5.00%) 2-year CD @ 4.60% (was 4.40%) 3-year CD @ 4.40% (was 4.30%) 4-year CD @ 4.20% (was 4.00%) 5-year CD @ 4.10% (was 3.80%) 6-year CD @ 4.00% (was 3.70%) For additional information see: https://www.marcus.com/us/en/savings/high-yield-cds https://www.marcus.com/us/en/savings/no-penalty-cds

"Here We Go Again: Our Online Savings Account Has A New Rate: 4.40% APY." - 9/16/2023

That was the message in an email that Marcus sent me last night. If you open an account with a referral code then you'd get a 1% bonus making it a total of 5.4% for 3 months. Feel free to message me on here if you'd like a referral link. If anyone decides to open an account with my referral link, then we would both enjoy the 1% bonus rate for 3 months... a win win situation! The Marcus online savings account has some nice features including a modern UI that is simple to use, occasional promotion offers, no minimum deposit, no fees, 24x7 support and a fast ACH service where funds may get deposited even before they are withdrawn from the external source account.

View all posts from:

11/17/20 - Marcus "High" Yield Savings Rate Slashed To 0.50% APY
9/9/20 - Marcus "High" Yield Savings Rate Slashed To 0.60% APY
9/9/20 - Big Drop This Morning From .80% To .60% APY
8/27/20 - Marcus AARP 8-Month No-Penalty CD Rate Slashed To 0.85%
8/4/20 - Marcus Cuts Savings Rate To .80%
7/28/20 - Rate Bonus and Special CD for AARP Members at Marcus by Goldman Sachs
7/23/20 - Marcus Cuts All No Penalty CD Rates
7/23/20 - Marcus Savings Rate Bonus For AARP Members
6/16/20 - Huge Marcus Savings Rate Change
6/16/20 - GS Bank USA Savings Rate Down To 1.05% From 1.30% Today
5/8/20 - Marcus Slashes Savings To 1.30%
5/7/20 - .10% Bonus Rate For AARP Members On Marcus High-Yield Online Savings Account
4/30/20 - 7-Month No-Penalty CD 1.55%
4/18/20 - Goldman Sachs High-Yield CDs Are Internet Bank Rate Leaders
4/15/20 - Online Savings Dropped To 1.55%
4/11/20 - 7-Month No-Penalty CD 1.70%
3/11/20 - CD RATE CUTS EFFECTIVE 03-11-2020
2/21/20 - GS Bank Lowers 11 Month and 7 Month No-Penalty CDs
2/1/20 - Goldman Sachs Bank USA Offers Online Savings Account $100 Bonus
1/3/20 - 11 Month No Penalty CD Rate INCREASE To 2.00% APY
12/12/19 - Goldman Sachs Bank USA Increases Rates On Five Cds
11/19/19 - Marcus Cutting Online Savings Rate From 1.90% To 1.70%
10/19/19 - 7-MONTH NO-PENALTY CD 2.00%
10/4/19 - Marcus Cuts 11 & 13 Mo No Penalty Cds By 15 Bps, Savings Rate Down 10 Bps To 1.9% APY
10/4/19 - Marcus.Com Savings Rate Down To 1.90% APY
9/13/19 - Marcus Cut No Penalty Cds & 1-6 Yr Cds By 15 Bps
8/27/19 - Marcus Cutting Online Savings Rate From 2.15% To 2.00%
8/15/19 - Inverted Yield Curve For No-Penalty Cds
8/9/19 - Marcus.Com 13-Month No Penalty CD Down 20 Bp From 2.35 To 2.15
7/29/19 - No-Penalty 13-Month CD 2.35%
7/19/19 - Goldman Sachs Bank USA Offers Up To $500 Savings Account Bonus
7/16/19 - Goldman's Marcus Bank Offering 1% Deposit Bonus Up To $500
6/28/19 - Goldman Sachs Bank USA Cuts Rates Except the 13-Month No-Penalty CD
6/27/19 - Marcus Cutting Online Savings Rate From 2.25% To 2.15%
3/7/19 - Goldman Sachs Bank USA Offers $100 Online Savings Account Bonus
3/7/19 - Marcus (Goldman) $100 Bonus With $10,000 Deposit (2.25% APY)
1/4/19 - Goldman Sachs Bank USA Ups Rates On Online Savings Account and CDs
1/4/19 - Marcus(Goldman Sachs) Raises Savings Rate To 2.25%
12/11/18 - Goldman Sachs Bank USA Ups Rates on No-Penalty and High-yield CDs
12/11/18 - GSB USA Ups Its 1 To 4 Years CDs A Bit
12/11/18 - 13 Month No Penalty CD 10 Bps Rate Increase To 2.25%
11/27/18 - Goldman Sachs Brokered Cds: 4 Yrs. 3.45%; 5 Yrs. 3.60%
11/20/18 - Goldman Sachs 5-Year Brokered CD, 3.60%; 4-Year At 3.45%
10/26/18 - Goldman Sachs Bank USA Ups Savings Account & Offers No-Penalty CDs
10/26/18 - Marcus Savings Rate Increases To 2.05%
10/25/18 - New 2.15% APY 13 Month No Penalty CD
10/12/18 - Online Savings 1.95% Now
9/19/18 - Goldman Sachs Bank USA Ups Rate On Savings Account
9/19/18 - Savings Upped To 1.90% APY
9/4/18 - Goldman Sachs Bank USA Hikes Rates on Seven High-yield CDs
8/9/18 - Small Rate Hike on Online Savings Account at Goldman Sachs Bank USA
8/9/18 - Small Savings Increase AT Goldman Sachs(Marcus)
7/24/18 - Goldman Sachs Bank USA Increases 12-Month High-Yield CD Rate
7/10/18 - Goldman Sachs 3-Y. Brokered CD: New Issue, 3.05%
6/26/18 - Goldman Sachs Bank USA Increases 5-Year High-Yield CD Rate
6/22/18 - Goldman Sachs Bank USA Hikes Online Savings Account Rate
6/13/18 - Goldman Sachs Bank USA Ups Seven High-yield CD Rates
5/15/18 - Goldman Sachs Bank USA Raises Online Savings Account Rate
5/15/18 - Savings Rate Updated To 1.70%
4/27/18 - Small Rate Hikes on Five CDs at Goldman Sachs Bank USA
4/16/18 - Marcus Raises Savings Rate To 1.60%
4/9/18 - Goldman Sachs Bank USA Hikes Online Savings Account
3/26/18 - Goldman Sachs Bank USA Hikes Rates on Seven of Its CDs
3/26/18 - Goldman Sachs Increases 5 Year CD To 2.75% APY
2/14/18 - Large CD Rate Hikes at Goldman Sachs Bank USA
1/12/18 - Goldman Sachs Bank USA Hikes Savings Account and CD Rates Again
1/12/18 - GS Bank/Marcus Ups Savings Rate To 1.5%
12/28/17 - Savings Account and CD Rate Hikes at Goldman Sachs Bank USA
12/28/17 - GS Bank Ups Its Online Saving To 1.4% From 1.3% APY Today
12/28/17 - 5 Yr CD Rate Increase
11/22/17 - GS Bank Being Rebranded To Marcus by Goldman Sachs
10/12/17 - GS Bank Increases Online Savings Account Rate
10/12/17 - GS Bank Savings Rate Is Now 1.3% APY
10/3/17 - Goldman Sachs Increases 1 Yr CD Rate
10/3/17 - GS Bank Ups Rates on Four CDs
8/31/17 - GS Bank Ups CD Rates with Largest Gains on Long-Term CDs
8/31/17 - Increases In CD Rates
6/7/17 - GS Bank’s First Rate Increase of Its Online Savings Account
6/7/17 - Goldman Sachs Raising Savings Rate To 1.20%
5/4/17 - GS Bank Raises CD Rates for the Second Time in the Last Month
4/5/17 - GS Bank Increases CD Rates
7/17/16 - GS Bank (USA) Drops 5-Year CD Rate
7/8/16 - 12-Month CD Rate
4/19/16 - GS Bank - the New Internet Bank from Goldman Sachs
4/18/16 - GS Bank Acquires GE Capital Bank's Deposit Business
8/18/15 - Savers Could Benefit From Goldman Buy

Reviews (285)

One Of The Best Online Banks

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One of the few online banks that starts paying interest on the day (i.e. business day) that you enter a deposit and also transfers money out in one business day. Many of the other online banks hold your money 2-4 business days before paying you interest for a deposit or before actually sending out the money. The other online banks don't allow beneficiaries on your account and/or they don't allow multiple accounts linked together (like saving envelopes). Lastly Marcus has 24 hour customer support which many don't.

You may see some reviews complaining about their accounts being locked. Here's what's happening due to Marcus' anti-money laundering controls and how to avoid the locks since it happened to me:
1. Don't transfer all of your money from another bank to Marcus and immediately close that bank account, because they have to verify with the other bank that you are the owner of the account. Keep that account open even with a small amount. If you don't, they will need to make a 3 way call to your old bank with you on the line to confirm.
2. When you transfer money to Marcus from another bank, you cannot transfer that money to another outside bank for 90 days. So which ever bank you transferred the money "from" can only be the bank you can transfer "to" for 90 days.
3. So keep one outside "funnel" account so that all transfers go in and out of Marcus. I hope this helps.

When you sign up they will send you a link to offer to your friends or strangers to get an extra 1% interest for 3 months. If your friends or strangers sign up, you will also get an extra 1% interest for 3 months up to 5 times. That's how I earned the extra 1% when I signed up using one of these reviews. If you want to earn the extra 1% interest for 3 months now, just copy and go to the referral link below and we both win.
https://www.marcus.com/share/MIC-TDQ-6LUY

Good But Not Perfect

Posted by: |

I agree that some of the criticisms are not justified. You don’t need a checking account. Marcus is a place to park money not perform your daily banking. You can link your account to an outside checking account if desired. The only major issue I have is the trouble with the app and website on my iPhone. Online banks need to realize they as much a tech company as a bank. Don’t tell your customers to “clear your cache” and other trite solutions that don’t work. Test your website and apps after every minor upgrade.

Marcus Withdrawals

Posted by: |

I requested a $350 transfer to my local bank. There was a pop-up form asking me why I was withdrawing this money. Mostly something annoying on their website. I'm putting money into Vanguard now and no more money goes into Marcus.

Beware Of Marcus

Posted by: |

Failed to wire money and failed to close an account after conformation.
Customer service has little knowledge of banking and process, nor how their own website works.

I am closing all my Marcus accounts and moving on. Plenty of banks with better interest rates.

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Health

Health Grade Components

Overall
FDIC Certificate #33124
Year Established1990
Employees4818
Primary RegulatorFED
Profit Margin
Return on Assets - YTD1.15%
Return on Equity - YTD11.41%
Annual Interest Income$13.84B
Assets and Liabilities
AssetsQ2 2023vs Q2 2022$517.1B$501.9B
LoansQ2 2023vs Q2 2022$157.2B$154.6B
DepositsQ2 2023vs Q2 2022$365.7B$348.8B
Equity CapitalQ2 2023vs Q2 2022$51.58B$44.50B
Loan Loss AllowanceQ2 2023vs Q2 2022$4.16B$3.39B
Unbacked Noncurrent LoansQ2 2023vs Q2 2022$2.64B$1.13B
Real Estate OwnedQ2 2023vs Q2 2022$0$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not Marcus by Goldman Sachs; we are a rate comparison website and cannot provide official rates or promotions.

Marcus by Goldman Sachs Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.40%-$1mOnline Savings Account

Marcus by Goldman Sachs CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.30%$500$1mHigh-yield 12 Month CD
5.25%$500$1mHigh-yield 18 Month CD
5.15%$500$1mHigh-yield 9 Month CD
5.10%$500$1mHigh-yield 6 Month CD
4.85%$500$1mHigh-yield 24 Month CD
4.60%$500$1m13 Month No-Penalty CD
4.50%$500$1m20 Month Rate Bump CD
4.40%$500$1mHigh-yield 3 Year CD
4.20%$500$1mHigh-yield 4 Year CD
4.10%$500$1mHigh-yield 5 Year CD
4.00%$500$1mHigh-yield 6 Year CD
0.45%$500$1m7 Month No-Penalty CD
0.35%$500$1m11 Month No-Penalty CD
Locations

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

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.