At a glance

4.1

Bankrate Score

CDs

Savings

Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

Overview

Marcus by Goldman Sachs is an online bank that rewards savers with higher-than-average rates. There are no monthly service fees charged by Marcus on their savings account or certificates of deposit (CDs). Moreover, opening deposit requirements are zero or small, making accounts easily accessible. But as an online-only bank, consumers will need to be comfortable solely banking online.

Highlights

High APY
Top CD Rates

Overall

Marcus by Goldman Sachs is an online bank that rewards savers with higher-than-average rates. There are no monthly service fees charged by Marcus on their savings account or certificates of deposit (CDs).

Pros

Marcus offers competitive interest rates for all of its products.
The balance requirements for CDs are relatively low.
Savings accounts don’t have a minimum balance requirement or monthly service fee.
A customer service line provides 24/7 account access. You can also chat with representatives at any time.

Cons

Marcus offers a limited selection of financial products.
Marcus does not offer debit or ATM cards, making it more difficult to access your funds.
Deposits must be made via electronic transfer or automated deposits; mobile check deposit is unavailable.

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Marcus banking products

4.7

/5

See methodology Compare savings rates

SCORE BREAKDOWN

APY offering:

4.40%

5/5

APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest.

Minimum balance to earn interest:

$0.00

5/5

The lowest deposit amount an account must have before it can earn interest.

Monthly service fee:

$0.00

5/5

A monthly charge a financial institution deducts from an account if certain requirements are not met.

Minimum balance to avoid fee:

$0.00

5/5

The lowest balance an account must maintain in order to avoid a fee.

Access to funds:

Subpar

2/5

A procedure that allows an individual or organization to access and manage the funds of another account holder.

FEATURES

4.40% APY

APY last updated between 5/6 and 5/12.

$0 minimum deposit to open

Marcus savings overview

Marcus’ high-yield savings account offers a competitive APY, requires no minimum deposit to open and charges no monthly fees.

Marcus doesn’t charge wire transfer fees, but the bank has an external transfer limit of $125,000 for online and automated clearing house transfers. Wire transfers have a $50,000 per statement cycle limit. Its website says to call the bank if you need to transfer more money.

Marcus doesn’t limit the number of transfers or withdrawals taken from your Marcus savings account.

Pros

Marcus offers a competitive yield on its savings account.
The account requires no minimum deposit to open.
There are no monthly fees.
Marcus doesn’t charge for wire transfers.

Cons

Mobile check deposit is not offered; all deposits must be transferred or automated.
There is no branch or ATM access.

Rate history for Marcus's Savings account

See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

Marcus

APY

APY last updated between 5/6 and 5/12.

National average APY

How do we get this data?

Bankrate independently tracks hundreds of APYs and product details for banking institutions nationwide. We retain the historical data of every rate we track in our database. If there are any gaps where we weren’t actively tracking a rate at the time, the graph will reflect the missing data.

See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

Marcus

APY

APY last updated between 5/6 and 5/12.

National average APY

How do we get this data?

Bankrate independently tracks hundreds of APYs and product details for banking institutions nationwide. We retain the historical data of every rate we track in our database. If there are any gaps where we weren’t actively tracking a rate at the time, the graph will reflect the missing data.

Compare Offer

Marcus CD overview

Marcus offers a wide selection of CD terms ranging from six months to six years, including three no-penalty CDs (seven, 11 and 13 months) and a bump-up CD (20 months), with most options offering competitive rates.

CDs can be opened with any amount, but you won’t earn the advertised interest rate until your deposit reaches $500. If you meet this requirement within 10 days of opening the CD, you’ll earn the advertised APY from the day you opened the account.

Pros

Marcus charges no monthly service fee.
Rates across terms are generally top-tier.
Marcus offers three terms of no-penalty CDs.
A bump-up CD option is available.

Cons

Some banks offer CDs without a minimum deposit requirement.

Rate history for Marcus's CD accounts

See how rates for this account have changed over time. Select the CD term length from the dropdown and interact with the trend lines to view APY by date.

Marcus

APY

APY last updated between 5/6 and 5/12.

National average APY

Term length

How do we get this data?

Bankrate independently tracks hundreds of APYs and product details for banking institutions nationwide. We retain the historical data of every rate we track in our database. If there are any gaps where we weren’t actively tracking a rate at the time, the graph will reflect the missing data.

See how rates for this account have changed over time. Select the CD term length from the dropdown and interact with the trend lines to view APY by date.

Marcus

APY

APY last updated between 5/6 and 5/12.

National average APY

Term length

How do we get this data?

Bankrate independently tracks hundreds of APYs and product details for banking institutions nationwide. We retain the historical data of every rate we track in our database. If there are any gaps where we weren’t actively tracking a rate at the time, the graph will reflect the missing data.

Current CD Rate

Bank fees

Fee	Charged?
Overdraft fee	None
Non-sufficient funds fee	None
Monthly maintenance fee	None
Out-of-network ATM fee	None
Excessive transaction fee	None

Find out: Tips to avoid common bank fees

Customer experience

Customer support

24/7 support is available. Although Marcus doesn’t have branches or ATM access, customers with CDs or a savings account can speak with a representative through live chat or over the phone 24 hours a day, seven days a week.

High Customer Satisfaction. Marcus by Goldman Sachs ranked second in J.D. Power’s 2023 Direct Banking Satisfaction Study among online-only banks offering savings products.

Digital experience

Highly rated mobile app. Marcus’s mobile app has a high rating on both the Apple App and Google Play stores. Collectively, more than 170,000 users have reviewed the app. Digital features include Marcus Insights, which allows customers to link external accounts to track goals and balances in one convenient location. Moreover, you can get breakdowns of monthly and year-to-date earnings, which help put into perspective how much money you’ve saved over time. The Marcus app does not support mobile check deposits, however, so all deposits must be electronically transferred.

Robust help center. Marcus’s Help Center maintains an extensive collection of FAQs, which can help current and prospective customers get answers without needing to connect with a representative. Topics are broken down by banking product, ranging from deposit accounts to credit cards.

Bankrate staff insights

"Overall the APY is a competitive rate and the ease of use of the app is a big plus," said a Bankrate staff member who uses the account personally. "I am confident in the rate I have, and I can clearly see how much I am saving using this account through the app."

About Marcus by Goldman Sachs Bank

Marcus by Goldman Sachs is an online bank that offers a savings account and multiple terms of CDs. Marcus is known for offering competitive rates on its savings products, including a savings account and a wide array of CDs, but the bank no longer offers personal loans.

Goldman Sachs Bank started offering CDs, savings accounts, and brokered CDs through the April 2016 acquisition of GE Capital Bank. In late 2017, Marcus by Goldman Sachs started offering CDs and a savings account.

Learn more: Marcus by Goldman Sachs CD rates

How Marcus compares to other banks

Compare different account types offered by Marcus by Goldman Sachs Bank. Annual percentage yields (APYs) shown were updated between May 6, 2024 and May 12, 2024.

Selected bank Marcus by Goldman Sachs savings account Member FDIC Bankrate score Rating: 4.7 stars out of 5 4.7 Bankrate Savings rating = 4.7/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score.	Most comparable Ally Bank savings account Member FDIC Bankrate score Rating: 4.4 stars out of 5 4.4 Bankrate Savings rating = 4.4/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. Read review	Bankrate score Bankrate Savings rating Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. Read review
APY APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs last updated between May 6, 2024 and May 12, 2024.
4.40%	4.20%
Minimum balance for APY
$0.00	$0.00
Estimated earnings Interest earned calculation based on a $25,000 deposit amount for a period of 1 year and is rounded to the nearest dollar. Exact earnings are dependent on calendar year, balance, and compounding frequency. Minimum deposit rules may apply.
$1,100	$1,050

Marcus by Goldman Sachs offers a competitive yield on its savings account and has been consistently raising it in 2022. With no fees and no minimum deposit, Marcus is a good option for savers who are comfortable with banking exclusively online.	Ally Bank consistently offers a competitive yield on its Online Savings Account. The online bank doesn’t have the absolute highest yield, but it offers a competitive one and doesn’t have a minimum balance requirement or a monthly service fee. The bank offers mobile deposit, but you’ll need to transfer money to the Ally checking account or money market account if you want to access money in your savings from an ATM.

Marcus by Goldman Sachs consistently offers high yields. There’s no minimum deposit required to open a Marcus Online Savings Account. Marcus by Goldman Sachs has customer service representatives available 24/7.	Ally Bank offers a competitive yield on its Online Savings Account. Ally Bank has savings tools, such as Surprise Savings where Ally Bank looks at your linked checking account for savings opportunities.	N/A
There are some other banks that offer a higher yield. The Marcus by Goldman Sachs Online Savings Account doesn’t allow mobile check deposits. You’ll need to mail checks to the bank.	Ally Bank doesn’t offer ATM access directly from its savings account. Some other online banks offer a higher yield than Ally Bank.	N/A

APY offering: 4.40% 5/5 APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. Minimum balance to earn interest: $0.00 5/5 The lowest deposit amount an account must have before it can earn interest. Monthly service fee: $0.00 5/5 A monthly charge a financial institution deducts from an account if certain requirements are not met. Minimum balance to avoid fee: $0.00 5/5 The lowest balance an account must maintain in order to avoid a fee. Access to funds: Subpar 2/5 A procedure that allows an individual or organization to access and manage the funds of another account holder.	APY offering: 4.20% 4/5 APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. Minimum balance to earn interest: $0.00 5/5 The lowest deposit amount an account must have before it can earn interest. Monthly service fee: $0.00 5/5 A monthly charge a financial institution deducts from an account if certain requirements are not met. Minimum balance to avoid fee: $0.00 5/5 The lowest balance an account must maintain in order to avoid a fee. Access to funds: Good 4/5 A procedure that allows an individual or organization to access and manage the funds of another account holder.	APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. The lowest deposit amount an account must have before it can earn interest. A monthly charge a financial institution deducts from an account if certain requirements are not met. The lowest balance an account must maintain in order to avoid a fee. A procedure that allows an individual or organization to access and manage the funds of another account holder. Bankrate does not currently track additional product details for this bank.

Selected bank Marcus by Goldman Sachs CD Member FDIC Bankrate score Rating: 4.9 stars out of 5 4.9 Bankrate CD rating = 4.9/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs) and minimum deposits are some of the things that make up Bankrate’s score.	Most comparable Barclays Bank CD Member FDIC Bankrate score Rating: 4.8 stars out of 5 4.8 Bankrate CD rating = 4.8/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs) and minimum deposits are some of the things that make up Bankrate’s score. Read review	Bankrate score Bankrate CD rating Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs) and minimum deposits are some of the things that make up Bankrate’s score. Read review
APY APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs last updated between May 6, 2024 and May 12, 2024.
5.00%	5.00%
Minimum deposit
$500.00	$0.00
Term
9 mos	1 yr

Marcus by Goldman Sachs offers nearly every term and type of CD that most savers would want along with competitive rates. Marcus also offers a 10-day rate guarantee if the rate changes after opening the CD.	Barclays offers competitive yields on many of its CDs and doesn’t require a minimum opening deposit. But you’ll have to deposit some money within 14 days of opening the CD to maintain the account.

Marcus by Goldman Sachs consistently offers competitive yields. Marcus offers a variety of CD terms, so you can easily build a CD ladder at this bank. An account can be opened with as little as $500. Offers three terms of no-penalty CDs.	Barclays doesn’t have a minimum deposit requirement. Barclays offers a competitive yield. Interest on Barclays CDs compounds daily. Offers a 14-day grace period in which funds can be withdrawn from the CD without penalties.	N/A
Some banks have lower minimum deposit requirements. Partial withdrawals are not allowed from the no-penalty CDs	Barclays doesn’t have competitive yields on CDs with terms under a year. The bank does not offer any special CDs, such as bump-up or step-up CDs.	N/A

APY offering: 5.00% - 9 mos 5/5 APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs are selected based on Bankrate reviews of the highest rates a bank offers between the term ranges of 7 and 17 months. This excludes jumbo CDs and applies when the minimum deposit is $25k or less. Minimum deposit: $500.00 5/5 The minimum deposit amount a financial institution requires in order to open a CD. Range of term lengths: 6 mos - 6 yrs 5/5 A designated amount of time that funds must be held within a CD. Early withdrawal penalty: Good 4/5 A penalty incurred when funds have been withdrawn from a CD before its maturity date. Offer no-penalty or bump-up CDs: Yes 5/5 A CD that doesn’t incur a penalty if funds are withdrawn before its maturity date. Offer IRA CDs: Yes 5/5 An IRA account which consists of CDs that typically earns fixed interest over a specified period of time.	APY offering: 5.00% - 1 yr 5/5 APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs are selected based on Bankrate reviews of the highest rates a bank offers between the term ranges of 7 and 17 months. This excludes jumbo CDs and applies when the minimum deposit is $25k or less. Minimum deposit: $0.00 5/5 The minimum deposit amount a financial institution requires in order to open a CD. Range of term lengths: 6 mos - 5 yrs 4/5 A designated amount of time that funds must be held within a CD. Early withdrawal penalty: Good 4/5 A penalty incurred when funds have been withdrawn from a CD before its maturity date. Offer no-penalty or bump-up CDs: No 0/5 A CD that doesn’t incur a penalty if funds are withdrawn before its maturity date. Offer IRA CDs: No 0/5 An IRA account which consists of CDs that typically earns fixed interest over a specified period of time.	APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs are selected based on Bankrate reviews of the highest rates a bank offers between the term ranges of 7 and 17 months. This excludes jumbo CDs and applies when the minimum deposit is $25k or less. The minimum deposit amount a financial institution requires in order to open a CD. A designated amount of time that funds must be held within a CD. A penalty incurred when funds have been withdrawn from a CD before its maturity date. A CD that doesn’t incur a penalty if funds are withdrawn before its maturity date. An IRA account which consists of CDs that typically earns fixed interest over a specified period of time. Bankrate does not currently track additional product details for this bank.

Marcus vs. Ally Bank

Both Marcus and Ally Bank are online-only banks. As such, they typically offer accounts with high yields that can be opened with little to no minimum deposits.

Yields at Marcus and Ally are similar for their savings accounts and CDs, making both competitive options for savers. Moreover, both banks offer a comparable array of CD types and terms, ranging from standard to bump-up and no-penalty CDs with multiple terms for each.

This noted, Ally generally offers more financial products and services, including a highly rated checking and money market account in addition to investment and retirement accounts. If you’re looking to bring all of your banking under one roof, Ally is generally the better choice.

Learn more: Best online banks

Marcus FAQs

Marcus by Goldman Sachs Bank is best for customers comfortable with online banking looking to park their money in a high-yield savings account or a high-yield CD. However, since Marcus doesn’t offer a money market or checking account, it isn’t best for those looking to consolidate their banking under one roof.
Yes. Marcus is the online-only banking division of Goldman Sachs, which was established in 1990 and is FDIC-insured. Goldman Sachs is one of the largest banks in the U.S., touting more than $500 billion in consolidated assets.
It depends on the type of transfer. For ACH transfers initiated from your account, Marcus will process transfers by 5 p.m. Eastern time if your transfer is $100,000 or less and you initiate it by 12 p.m. Eastern time.

Review methodology

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.

Date Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.	Marcus APY APY last updated between 5/6 and 5/12. APY last updated between 5/6 and 5/12	National average APY The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
05/07/2024	4.40%	0.58%
04/30/2024	4.40%	0.58%
04/23/2024	4.40%	0.58%
04/16/2024	4.40%	0.58%
04/09/2024	4.40%	0.58%
04/03/2024	4.40%	0.58%
04/02/2024	4.50%	0.58%
03/26/2024	4.50%	0.57%
03/19/2024	4.50%	0.57%
03/12/2024	4.50%	0.57%
03/05/2024	4.50%	0.57%
02/27/2024	4.50%	0.58%
02/20/2024	4.50%	0.58%
02/13/2024	4.50%	0.58%
02/06/2024	4.50%	0.58%
01/30/2024	4.50%	0.58%
01/23/2024	4.50%	0.58%
01/16/2024	4.50%	0.58%
01/09/2024	4.50%	0.58%
01/02/2024	4.50%	0.58%
12/26/2023	4.50%	0.57%
12/19/2023	4.50%	0.57%
12/12/2023	4.40%	0.57%
12/05/2023	4.40%	0.57%
11/28/2023	4.40%	0.60%
11/21/2023	4.40%	0.60%
11/14/2023	4.40%	0.60%
11/07/2023	4.40%	0.60%
10/31/2023	4.40%	0.58%
10/24/2023	4.40%	0.58%
10/19/2023	4.40%	0.58%
10/17/2023	4.40%	0.58%
10/10/2023	4.40%	0.58%
10/03/2023	4.40%	0.58%
09/26/2023	4.40%	0.57%
09/19/2023	4.40%	0.57%
09/12/2023	4.30%	0.57%
09/05/2023	4.30%	0.57%
08/29/2023	4.30%	0.54%
08/22/2023	4.30%	0.54%
08/15/2023	4.30%	0.54%
08/08/2023	4.30%	0.54%
08/04/2023	4.30%	0.54%
08/01/2023	4.15%	0.54%
07/25/2023	4.15%	0.54%
07/18/2023	4.15%	0.54%
07/11/2023	4.15%	0.54%
07/04/2023	4.15%	0.54%
06/27/2023	4.15%	0.49%
06/20/2023	4.15%	0.49%
06/13/2023	4.15%	0.49%
06/06/2023	4.15%	0.49%
05/17/2023	4.15%	0.47%

Date Bankrate gathers rate data either directly from our partners, or through our proprietary rate surveying service. The rate change date is based on when Bankrate received or captured the rate change and may differ from the actual date the rate changed.	Marcus APY APY last updated between 5/6 and 5/12. APY last updated between 5/6 and 5/12	National average APY The “national average” is determined by Bankrate’s comprehensive national survey of savings accounts and CDs and reflects the monthly average APY for each product.
05/07/2024	4.20%	1.52%
04/30/2024	4.20%	1.51%
04/23/2024	4.20%	1.51%
04/16/2024	4.20%	1.51%
04/09/2024	4.20%	1.51%
04/02/2024	4.20%	1.51%
03/26/2024	4.20%	1.52%
03/21/2024	4.20%	1.52%
03/19/2024	4.30%	1.52%
03/12/2024	4.30%	1.52%
03/08/2024	4.30%	1.52%
02/27/2024	4.30%	1.50%
02/21/2024	4.40%	1.50%
02/20/2024	4.40%	1.50%
02/13/2024	4.40%	1.50%
02/06/2024	4.40%	1.50%
01/30/2024	4.40%	1.52%
01/24/2024	4.85%	1.52%
01/23/2024	4.85%	1.52%
01/16/2024	4.85%	1.52%
01/09/2024	4.85%	1.52%
01/02/2024	4.85%	1.52%
12/26/2023	4.85%	1.51%
12/12/2023	4.85%	1.51%
12/05/2023	4.85%	1.51%
11/28/2023	4.85%	1.50%
11/21/2023	4.85%	1.50%
11/14/2023	4.85%	1.50%
11/07/2023	4.85%	1.50%
11/02/2023	4.85%	1.50%
10/31/2023	4.60%	1.50%
10/24/2023	4.60%	1.50%
10/17/2023	4.60%	1.50%
10/10/2023	4.40%	1.50%
10/03/2023	4.40%	1.50%
09/26/2023	4.40%	1.47%
09/19/2023	4.40%	1.47%
09/12/2023	4.40%	1.47%
09/05/2023	4.40%	1.47%
08/29/2023	4.40%	1.39%
08/22/2023	4.40%	1.39%
08/15/2023	4.40%	1.39%
08/10/2023	4.40%	1.39%
08/08/2023	4.40%	1.39%
08/01/2023	4.40%	1.39%
07/25/2023	4.35%	1.35%
07/18/2023	4.35%	1.35%
07/11/2023	4.35%	1.35%
07/04/2023	4.35%	1.35%
06/27/2023	4.35%	1.32%
06/20/2023	4.35%	1.32%
06/13/2023	4.35%	1.32%
06/06/2023	4.35%	1.32%

Marcus by Goldman Sachs Bank Review 2024

The Bankrate promise

At a glance

Overview

Highlights

Overall

Pros

Cons

We want to know what you think about Marcus

Marcus banking products

Marcus savings overview

Pros

Cons

Rate history for Marcus's Savings account

Marcus CD overview

Pros

Cons

Rate history for Marcus's CD accounts

Bank fees

Customer experience

Customer support

Digital experience

Bankrate staff insights

About Marcus by Goldman Sachs Bank

How Marcus compares to other banks

Marcus vs. Ally Bank

Marcus FAQs

Who is Marcus best for?

Is Marcus safe?

How long does it take to get money out of Marcus?

Review methodology

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