Open an AccountGoldman Sachs Bank USA
Most Popular Goldman Sachs Bank USA Accounts
| Account Type | APY | Account Name | Min | Max | |
|---|---|---|---|---|---|
| CD | 3.10% | High-yield 5 Year CD | $500 | $1m | Details » |
| CD | 2.75% | High-yield 12 Month CD | $500 | $1m | Details » |
| Savings | 2.25% | High-yield Online Savings Account | $1 | $1m | Details » |
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
1/4 - Marcus(Goldman Sachs) Raises Savings Rate To 2.25%
12/11 - GSB USA Ups Its 1 To 4 Years CDs A Bit
12/11 - 13 Month No Penalty CD 10 Bps Rate Increase To 2.25%
11/27 - Goldman Sachs Brokered Cds: 4 Yrs. 3.45%; 5 Yrs. 3.60%
11/20 - Goldman Sachs 5-Year Brokered CD, 3.60%; 4-Year At 3.45%
10/26 - Goldman Sachs Bank USA Ups Savings Account & Offers No-Penalty CDs
10/26 - Marcus Savings Rate Increases To 2.05%
10/25 - New 2.15% APY 13 Month No Penalty CD
10/12 - Online Savings 1.95% Now
9/19 - Goldman Sachs Bank USA Ups Rate On Savings Account
9/19 - Savings Upped To 1.90% APY
9/4 - Goldman Sachs Bank USA Hikes Rates on Seven High-yield CDs
8/9 - Small Rate Hike on Online Savings Account at Goldman Sachs Bank USA
8/9 - Small Savings Increase AT Goldman Sachs(Marcus)
7/24 - Goldman Sachs Bank USA Increases 12-Month High-Yield CD Rate
7/10 - Goldman Sachs 3-Y. Brokered CD: New Issue, 3.05%
6/26 - Goldman Sachs Bank USA Increases 5-Year High-Yield CD Rate
6/22 - Goldman Sachs Bank USA Hikes Online Savings Account Rate
6/13 - Goldman Sachs Bank USA Ups Seven High-yield CD Rates
5/15 - Goldman Sachs Bank USA Raises Online Savings Account Rate
5/15 - Savings Rate Updated To 1.70%
4/27 - Small Rate Hikes on Five CDs at Goldman Sachs Bank USA
4/16 - Marcus Raises Savings Rate To 1.60%
4/9 - Goldman Sachs Bank USA Hikes Online Savings Account
3/26 - Goldman Sachs Bank USA Hikes Rates on Seven of Its CDs
3/26 - Goldman Sachs Increases 5 Year CD To 2.75% APY
2/14 - Large CD Rate Hikes at Goldman Sachs Bank USA
1/12 - Goldman Sachs Bank USA Hikes Savings Account and CD Rates Again
1/12 - GS Bank/Marcus Ups Savings Rate To 1.5%
12/28 - GS Bank Ups Its Online Saving To 1.4% From 1.3% APY Today
12/28 - 5 Yr CD Rate Increase
11/22 - GS Bank Being Rebranded To Marcus by Goldman Sachs
10/12 - GS Bank Increases Online Savings Account Rate
10/12 - GS Bank Savings Rate Is Now 1.3% APY
10/3 - Goldman Sachs Increases 1 Yr CD Rate
10/3 - GS Bank Ups Rates on Four CDs
8/31 - GS Bank Ups CD Rates with Largest Gains on Long-Term CDs
8/31 - Increases In CD Rates
6/7 - GS Bank’s First Rate Increase of Its Online Savings Account
6/7 - Goldman Sachs Raising Savings Rate To 1.20%
5/4 - GS Bank Raises CD Rates for the Second Time in the Last Month
4/5 - GS Bank Increases CD Rates
Recent change to Marcus was not a great move
The interest rates are very competitive, and the phone customer service has good availability. The problem is that they recently changed the website to Marcus.com, which has all of these fancy graphics but is actually much more difficult to use than the old gsbank.com. It's not a dealbreaker, but it still sucks that the bank management people don't understand that huge text and fancy graphics don't make the website a better user experience.
Marcus Is So Bad Website...
Previous GE Capital and GS Bank (which has same website look n feel derived from GE Capital bank) was decent to use and faster. But Goldman sachs introduced this new Marcus website platform really sucks... So bad website and have to scroll up and down to see just minor details of account... so bad website...they should replace this design and development team as by being my self web developer / software engineer... this is not acceptable response time from bank website! Hope GS bank will fix this slowness and ugliness of the site!
Marcus SHMARCUS.
GS Bank was great. SInce the rebranding to Marcus the online banking experience has gone downhill. The website is just plain awful. It's tedious to navigate and slow. Hopefully Marcus execs read the complaints and make changes PRONTO.
Warning, Delayed Money Release
Good luck getting money out of your account. I closed a no-penalty CD and it took 9 days and many hours on the phone for 6 days to transfer the CD to a Marcus savings account (an internal transfer that should take less than 5 minutes). Customer service puts you on hold all the time. Every phone call was 25 to 45 minutes long, with most of the time being on hold. Because there is no secure email, there is no electronic record of any customer support issue.
Data as of Q3 2018
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 33124 |
| Year Established | 1990 |
| Employees | 1760 |
| Primary Regulator | FED |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.18% |
| Return on Equity - YTD | 7.75% |
| Annual Interest Income | $4.09B |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2018vs Q3 2017 | $179.2B$158B |
| Loans | Q3 2018vs Q3 2017 | $71.05B$55.53B |
| Deposits | Q3 2018vs Q3 2017 | $130.2B$108.4B |
| Equity Capital | Q3 2018vs Q3 2017 | $27.03B$25.19B |
| Loan Loss Allowance | Q3 2018vs Q3 2017 | $519.0MM$316.0MM |
| Unbacked Noncurrent Loans | Q3 2018vs Q3 2017 | $527.0MM$313.0MM |
| Real Estate Owned | Q3 2018vs Q3 2017 | $30.0MM$24.0MM |
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.
Marcus(Goldman Sachs) Raises Savings Rate To 2.25%
Also, 12-Month CD 2.75%(2.65%) and 13-Month "No Penalty" CD 2.35%(2.25%).
GSB USA Ups Its 1 To 4 Years CDs A Bit
18 months - 2.65% (2.55%)
2 year - 2.70% (2.60%)
3 year - 2.75% (2.65%)
4 year - 2.80% (2.70%)
13 Month No Penalty CD 10 Bps Rate Increase To 2.25%
https://www.marcus.com/us/en/savings/no-penalty-cds
Goldman Sachs Brokered Cds: 4 Yrs. 3.45%; 5 Yrs. 3.60%
Goldman Sachs new issue, maturing Dec. 5, 2023, 3.60%.
available at Vanguard
These rates had been available at Vanguard one week ago, and quickly sold out.
Goldman Sachs 5-Year Brokered CD, 3.60%; 4-Year At 3.45%
Goldman Sachs new issue, maturing Nov. 28, 2022, 3.45%.
available at Vanguard
Marcus Savings Rate Increases To 2.05%
New 2.15% APY 13 Month No Penalty CD
7 months - 1.95% APY (Same as savings)
11 months - 2.10% APY
13 months - 2.15% APY
It seems to be the same as Ally where you can withdraw the interest and principle penalty free 6 days after the account has been opened/funded. I'm not sure if you can close it online as easily as Ally but there was a "close this account" link on the No Penalty CD page. Previously with Marcus CDs I've had to call or write in to have a CD that is going to mature not be renewed.
I have no idea why there would be multiple tiers as well. If it's all the same after 6 days you'd only be leaving money on the table by choosing anything other than 13 months.
Always verify rates and promotions with the bank or credit union. We are not Goldman Sachs Bank USA; we are a rate comparison website and cannot provide official rates or promotions.
Goldman Sachs Bank USA Savings Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 2.25% | $1 | $1m | High-yield Online Savings Account |
Goldman Sachs Bank USA CD Rates
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