If your main goal is to earn a competitive rate on your savings account and/or CD, Marcus by Goldman Sachs is likely a good fit. Marcus offers strong savings and certificates of deposit.
Marcus is an online-only bank and subsidiary of Goldman Sachs. All loans and deposit products are provided by Goldman Sachs Bank USA, Salt Lake City branch. Here’s what you need to know if you’re thinking about becoming a customer.
All rates and fees are current as of Nov. 4, 2025, and are subject to change.
Marcus by Goldman Sachs
Marcus by Goldman Sachs
| Savings account | No maintenance fees |
| Certificates of deposit (CDs) | Open with as little as $500 |
at Bankrate
- Year Founded: 2016
- Company Headquarters: Draper, UT
- CEO: David Solomon
Who is Marcus by Goldman Sachs good for?
Marcus by Goldman Sachs doesn’t operate physical branches and, therefore, doesn’t have the same overhead costs as brick-and-mortar banks. This allows it to pass along savings to customers in the form of high rates and low fees. However, that also means that customers should be comfortable with managing their accounts online, with limited options for depositing cash.
Who shouldn’t use Marcus by Goldman Sachs?
Those looking for a full-service bank with checking and money market accounts, a wide range of credit products, insurance, and financial planning services might find Marcus too limiting. You won’t find a checking account option here, which affects the way you can access funds.
As it doesn’t provide debit or ATM cards, you’ll need to perform an (ACH) or wire transfer to use your money.
Pros
- Competitive interest rates
- No monthly maintenance fees
- Low minimum deposit requirements
Cons
- No physical branches
- Limited bank account options
- No debit card or ATM access
Marcus by Goldman Sachs rates and products
Marcus does not offer any checking accounts or money market accounts (MMAs). However, it does a competitive high-yield savings account along with several CD options.
| Marcus by Goldman Sachs product | APY |
|---|---|
| High-Yield Savings | 3.65% |
| High-yield CD | 3.85%–4.10% |
| No-penalty CD | 3.90%–3.95% |
| Rate-bump CD | 3.90% |
| High-Yield Savings | |
|---|---|
| APY | 3.65% |
| High-yield CD | |
| APY | 3.85%–4.10% |
| No-penalty CD | |
| APY | 3.90%–3.95% |
| Rate-bump CD | |
| APY | 3.90% |
Savings account
The Marcus online savings account boasts a competitive 3.65% APY—more than nine times the national average. No minimum deposit or balance is required to earn this rate, and there are no monthly maintenance fees.
To fund the account, you can link a checking or savings account from another bank and transfer money. You’ll begin earning interest the day the transfer is initiated. You can also set up direct deposit, mail a check, or send a domestic wire transfer.
There’s no limit to the number of withdrawals or transfers you can make from your online savings account. Marcus also waives ACH and wire transfer fees.
Bank details checked Nov. 4, 2025.
Certificates of deposit
Marcus offers a decent selection of CD types, all of which require a modest opening deposit of at least $500. Depending on the exact term and product you select, you can earn up to 4.10% APY.
Marcus offers standard CDs, no-penalty CDs (which allow you to withdraw your money without fees), and rate bump CDs (entitling you to request a one-time rate change if before maturity Marcus increases the APY of its CD).
Another notable feature of Marcus CDs is the rate guarantee program. If you fund your account with at least $500 within 10 days, you’ll receive the highest published interest rate and APY the bank offers on that product and term. That means if rates go up shortly after you’ve opened your account, you can still get the highest rate available.
Keep in mind that if you withdraw your principal balance before the maturity date, an early withdrawal penalty applies.
Bank details checked Nov. 4, 2025.
Standard CDs
| Term length | APY |
|---|---|
| 6 months | 4.05% |
| 9 months | 4.00% |
| 12 months | 4.00% |
| 14 months | 4.10% |
| 18 months | 4.00% |
| 24 months | 3.95% |
| 36 months | 3.90% |
| 48 months | 3.85% |
| 60 months | 3.90% |
| 72 months | 3.90% |
| 6 months | |
|---|---|
| APY | 4.05% |
| 9 months | |
| APY | 4.00% |
| 12 months | |
| APY | 4.00% |
| 14 months | |
| APY | 4.10% |
| 18 months | |
| APY | 4.00% |
| 24 months | |
| APY | 3.95% |
| 36 months | |
| APY | 3.90% |
| 48 months | |
| APY | 3.85% |
| 60 months | |
| APY | 3.90% |
| 72 months | |
| APY | 3.90% |
Bank details checked Nov. 4, 2025.
No-penalty CDs
| Term length | APY |
|---|---|
| 7 months | 3.90% |
| 11 months | 3.95% |
| 13 months | 3.95% |
| 7 months | |
|---|---|
| APY | 3.90% |
| 11 months | |
| APY | 3.95% |
| 13 months | |
| APY | 3.95% |
Bank details checked Nov. 4, 2025.
Rate bump CDs
| Term length | APY |
|---|---|
| 20 months | 3.90% |
| 20 months | |
|---|---|
| APY | 3.90% |
| APY |
Bank details checked Nov. 4, 2025.
Other services Marcus by Goldman Sachs offers
Apart from its savings and CDs, Marcus offers no other services. It once issued credit cards and personal loans but has since stopped.
Online banking
As an online bank, Marcus offers a user-friendly platform to bank online. It’s also got a mobile app that’s highly rated on both the Google Play Store and the Apple App Store. Remember, it doesn’t offer a checking account, so the things you can do with your money are a bit limited. You can still move money to an external account, review transactions, schedule transfers, check balances, and more.
The Marcus by Goldman Sachs platform and customer support
Marcus customer service uniquely offers 24/7 support via telephone and chat. Its phone number is 855-730-7283. You also have the option to send Marcus a check by physical mail.
To access live chat features, log into your account on the Marcus website and select the chat option from your dashboard.
Is Marcus by Goldman Sachs secure?
Marcus by Goldman Sachs takes multiple steps to ensure that your sensitive information stays secure. For example, Marcus implements firewalls, multi-factor authentication, and an encrypted network. It also requires that you use browsers that support encryption.
Marcus by Goldman Sachs is also FDIC-insured up to the standard $250,000 per account holder per ownership category.
Marcus by Goldman Sachs user reviews
It’s rare that a financial institution receives a high star rating from online reviews. Reviewers are most often motivated by a poor experience than a great one. With that in mind, Marcus by Goldman Sachs gets poor ratings from sites like Trustpilot, where it maintains a paltry 1.4-star review.
Users complain about “incompetent” customer service and difficulties with locked accounts and little explanation. On the other hand, positive reviews praise the financial institution’s excellent savings account APY and quick responses from agents.
Online forums like Reddit show plenty of comments from satisfied users, remarking the convenience of the Marcus app and the convenience of setting up automatic deposits.
Compare Marcus by Goldman Sachs to alternatives
Consider Axos Bank or SoFi if you’re seeking an online bank but aren’t quite sure Marcus by Goldman Sachs is a fit for your needs.
 Marcus by Goldman Sachs |  SoFi® Member FDIC |  Axos Bank |
|---|---|---|
| Top savings APY | Top savings APY | Top savings APY |
| 3.65% | Up to up to 3.80%%.1 Get a 0.70% Boost on Savings APY to up to 4.50% for up to 6 months on new accounts with eligible Direct Deposit. Terms apply.2 | 4.00% APY (up to 4.46% with the Axos One bundle) |
| Top checking APY | Top checking APY | Top checking APY |
| N/A | 0.50% | 3.30% |
| Top CD APY | Top CD APY | Top CD APY |
| 4.10% | N/A | 0.20% |
| Learn more | Learn more | Learn more |
| View offer at MoneyLion | View offer at SoFi | View offer at MoneyLion |
Terms apply. The SoFi savings rate is a limited-time APY boost offer.
Bank details checked Nov. 4, 2025.
Is Marcus by Goldman Sachs right for you?
Marcus by Goldman Sachs is tailored to customers looking for savings products with high earning rates without the need for a full-service banking relationship. It’s also only for those who are comfortable with managing their finances online, as Marcus has no physical locations.
Marcus also doesn’t charge monthly fees on its accounts, so it’s good for those who don’t want to worry about meeting monthly qualifications to avoid fees.
Again, Marcus has a focused lineup of savings and CD products. If you’re looking for other types of deposit accounts or a wider range of financial services under one roof, Marcus won’t meet all your banking needs.
Frequently asked questions
How much money do you need to open a Marcus account?
Marcus’s savings account does not require a minimum deposit. However, its CDs require a minimum opening deposit of $0 .
Is Marcus by Goldman Sachs legitimate?
Yes. Marcus by Goldman Sachs is a subsidiary of Goldman Sachs.
Does Marcus by Goldman Sachs offer a checking account?
Marcus by Goldman Sachs does not offer a checking account. You’ll only find savings and CD options.
What types of CDs does Marcus by Goldman Sachs offer?
Marcus by Goldman Sachs offers three types of CDs: standard, no-penalty, and rate bump options.
Is Marcus by Goldman Sachs FDIC-insured?
Yes, Marcus by Goldman Sachs is FDIC-insured.
SoFi disclaimer
1:
SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.
2: 0.70% Savings APY Boost
Earn up to 4.50% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.80% APY as of 8/5/25) for up to 6 months. Open a new SoFi Checking & Savings account with Eligible Direct Deposit by 1/31/26. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.