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Marcus Bank specializes in savings accounts and CDs and offers competitive APYs (annual percentage yields). It also allows for same-day transfers to external banks, which helps make up for its lack of a checking account. Read our full Marcus Bank review to learn more about all the company has to offer.
Marcus Bank offers some eye-catching APYs and it doesn't charge monthly maintenance fees on any of its accounts. You can't withdraw funds directly, but the bank does offer same-day transfers to other banks and credit unions for maximum convenience.
Our methodology for scoring banks and credit unions revolves around evaluating key aspects such as annual percentage yield (APY), brand reputation, fees and minimum requirements, and additional perks.
These criteria are weighted differently across various account types, ensuring a comprehensive assessment that reflects the competitive landscape and economic conditions.
We strictly feature products that offer federal insurance and high customer satisfaction, keeping our recommendations unbiased by advertiser influence. This robust evaluation process helps us generate balanced, reliable best-of lists that guide consumers to top financial products.
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Marcus Bank is a good fit for you if:
Marcus only currently offers one savings account product, but it's a pretty good one.
The Marcus by Goldman Sachs Online Savings Account offers a decent APY with no monthly maintenance fees or minimum balance requirements. This is pretty typical for online savings accounts. In fact, high APYs are a major advantage of online savings accounts when compared with brick-and-mortar savings accounts.
What helps set this savings account apart from its online competitors? It offers same-day fund transfers of $100,000 or less to and from other banks. This is great if you need money in a hurry. It's especially useful with the Marcus by Goldman Sachs Online Savings Account, because this account doesn't offer an ATM card or any other way to directly withdraw funds.
On Marcus by Goldman Sachs's Secure Website.
Member FDIC.
Sponsored Listing
Marcus by Goldman Sachs Online Savings Account
On Marcus by Goldman Sachs's Secure Website.
On Marcus by Goldman Sachs's Secure Website.
We think the Marcus by Goldman Sachs Online Savings Account is perfect for savers who want a no-frills savings account with zero fees and top-tier interest rates. $100,000 same-day transfers makes it especially enticing for big money movers. Simplicity is key: you'll struggle to find another high-yield savings account that's as straightforward as this one.
Make sure you're getting the best account for you by comparing savings rates and promotions. Here are some of our favorite high-yield savings accounts to consider.
| Account | APY | Bonus | Next Steps |
|---|---|---|---|
Open Account for SoFi Checking and Savings
On SoFi's Secure Website.
4.90/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor |
up to 3.80%
Rate info
Earn up to 3.80% Annual Percentage Yield (APY) on one SoFi Savings account with a 0.70% APY Boost (added to the 3.10% APY as of 5/28/26) for up to 6 months. Open your first SoFi Checking and Savings account and receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 12/31/26. Rates are variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
Min. to earn: $0
|
Earn $50 or $400 and +0.70% Boost on Savings APY with direct deposit. Terms apply.
Earn up to 3.80% Annual Percentage Yield (APY) on one SoFi Savings account with a 0.70% APY Boost (added to the 3.10% APY as of 5/28/26) for up to 6 months. Open your first SoFi Checking and Savings account and receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 12/31/26. Rates are variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC. |
Open Account for SoFi Checking and Savings
On SoFi's Secure Website. |
Open Account for EverBank Bank High-Yield Savings Account from Raisin
On Raisin's Secure Website. |
4.15%
Rate info
Earn a guaranteed 4.15% APY for 90 days. After that, your savings keep growing at a competitive standard rate -- currently 3.95% APY (subject to change). No minimum account balance required. Deposit or withdraw at any time with no additional fees.
Min. to earn: $1
|
Earn up to $1,200 when you sign up and fund your account using code SUMMER26.¹
|
Open Account for EverBank Bank High-Yield Savings Account from Raisin
On Raisin's Secure Website. |
Open Account for CIT Platinum Savings
On CIT's Secure Website.
4.80/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor |
up to 4.10%*
Rate info
4.10%* APY for balances of $5,000 or more; otherwise, 0.60%* APY
Min. to earn: $5,000
|
Earn up to 4.10% APY with promo code CITBoost
With the 6 month Boost limited-time offer, you earn 4.10%* APY on balances over $5,000 (balances less than $5,000 earn 0.60%* APY). After the boost is complete you will continue to earn standard rates -- 3.75% APY for balances over $5,000 (balances less than $5,000 earn 0.25% APY). The minimum to open a Platinum Savings account is $100. Member FDIC. No monthly service fees. |
Open Account for CIT Platinum Savings
On CIT's Secure Website. |
Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-of-day account balance. APYs — Annual Percentage Yields are accurate as of July 1, 2026: 0.25% APY on balances of $0.01 to $4,999.99; 3.75% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100.
Based on comparison to the national average Annual Percentage Yield (APY) on savings accounts as published in the FDIC National Rates and Rate Caps, accurate as of February 17, 2026.
* Platinum Savings APY Boost Promotion Terms and Conditions
This is a limited time offer available to New and Existing customers who meet the Platinum Savings APY Boost promotion criteria.
Accounts enrolled in the Platinum Savings Annual Percentage Yield (APY) Boost promotion will receive a 0.35% APY boost on the Platinum Savings current standard APY tiers for 6 months following the opening of a new account or when an existing Platinum Savings account is enrolled in the promotion. The Platinum Savings APY boost will be applied on account balances up to $9,999,999.00. Account balances above $9,999,999.00 will earn the standard APY. If the standard-published APY should change during the promotion period, the APY boost will move with it, offering an account APY above the standard rate.
The Promotion begins on February 13, 2026, and ends August 31, 2026. Customers enrolled in the promotion prior to the end date will receive the APY boost for the 6- month period outlined in the terms and conditions.
The promotion can end at any time without notice.
CIT General Disclosure
For complete list of account details and fees, see our Personal Account disclosures.
¹New customers only. Earn a cash bonus (the "Base Bonus") when you deposit and maintain funds with partner banks on the Raisin platform. Customers will receive a Base Bonus of $50 for depositing between $10,000 and $24,999; $125 for depositing between $25,000 and $49,999; $250 for depositing between $50,000 and $99,999; $500 for depositing between $100,000 and $199,999; and $1,000 for depositing $200,000 or more.
Customers may earn an additional bonus by setting up a recurring deposit within 14 days of their initial deposit (the “Recurring Deposit Bonus”). To qualify, the recurring deposit must be established within 14 days of the initial deposit date and it must execute at least two (2) times within 90-days of the initial deposit. Recurring Deposit Bonus eligibility is determined by your Base Bonus tier:
Customers are eligible to earn the Recurring Deposit Bonus associated with their Base Bonus tier or any lower Recurring Deposit Bonus tier. For example, a customer with an initial deposit of $200,000 (qualifying for the highest Base Bonus tier) whose aggregate recurring deposits total $500, is eligible for the lower tier and will receive the $50 Recurring Deposit Bonus. However, setting up a recurring deposit greater than your Base Bonus tier's required threshold will not qualify you for a higher Recurring Deposit Bonus.
The Recurring Deposit Bonus is paid in addition to the Base Bonus. To qualify for the Base Bonus and Recurring Deposit Bonus, your first deposit must be initiated between June 1, 2026, and August 31, 2026, by 11:59 PM ET, and the promo code SUMMER26 must be entered at the time of sign-up. Only funds deposited within 14 days of the initial deposit date and maintained with partner banks on the Raisin platform for 90 days will be eligible for the Base Bonus. Bonus cash will be credited directly to your Cash Account within 30 days of meeting all qualifying terms. This offer is available to new customers only and may not be combined with any other bonus offers. Raisin may modify or end this offer at any time and may withhold or revoke bonuses in cases of fraud, abuse, or violation of these terms or Raisin’s Terms of Service.
There are two types of Marcus by Goldman Sachs certificates of deposit (CDs): and Marcus by Goldman Sachs No-Penalty CDs.
are its most popular option. Terms range from 6 months to 6 years, and you only need a minimum balance of $500 to open one. These CDs lock in your rate for the entire term. However, they also come with a 10-day rate guarantee. If Marcus's CD rates increase within 10 days after you open your CD, the bank will automatically raise your rate.
Marcus Bank offers No-Penalty CDs with 7-, 11-, and 13-month terms. It has the same minimum balance requirements as the bank's High-Yield CDs ($500), but only the 13-month CD has a rate comparable to its High-Yield counterparts; APYs on the other two terms are far below today's highest-paying CDs. As the name implies, you can withdraw your savings from these CDs at any time after the first seven days without paying a penalty. Note that taking your funds out early will decrease the amount of interest you earn.
Marcus Bank currently doesn't offer any checking accounts, so it's not ideal for those who hope to manage all their money in one place. Fortunately, Marcus Bank has one of the few savings accounts that promises same-day fund transfers to other banks. With this feature, you can move money from your savings account to a checking account at another bank almost instantly.
Marcus Bank maintains an A+ rating with the Better Business Bureau and ranked second in overall satisfaction among savings providers in J.D. Power's 2023 U.S. Direct Banking Satisfaction Study℠.
It offers live, U.S.-based customer support seven days per week. If you have any questions or concerns about your account, you won't have to wait too long to get your answers.
Marcus Bank doesn't offer relationship benefits, like higher APYs or reduced fees, to customers who open multiple accounts with the bank. Brick-and-mortar banks often offer these types of benefits. However, online banks usually offer high APYs to all customers. Relationship benefits don't make as much sense for online banks, and most don't offer them.
What does that mean for you? With Marcus Bank, what you see is what you get. You don't need to open multiple accounts to get the best rates, which is great if you're only interested in one type of account.
If Marcus Bank doesn't seem like the right choice for you, here are some other banks to consider.
Ally Bank is one of the best-known online banks. This is partly because it has one of the widest selections of products. It offers a high-yield savings account, traditional and no-penalty CDs, and the less-common Raise Your Rate CDs. You can also open an interest-bearing checking account and a money market account. Its rates are pretty comparable to Marcus Bank's. In addition, there are no monthly maintenance fees or minimum balance requirements.
Capital One Bank is a great alternative for those who want the high APYs of online banks but aren't ready to sever ties with brick-and-mortar banks completely. Capital One credit cards, checking, savings, CD accounts, and loans are fairly well known. It is possible to bank entirely online with Capital One, but it also has some branch locations in select states for those who would like to get assistance in person.
Marcus Bank is good for savers who want a good APY on their savings accounts and CDs and don't need a checking account. It's also good for those who like the idea of same-day transfers, no fees, and no minimum deposits.
No, Marcus Bank does not have a checking account. Despite beta rollouts and testing of a potential checking account in early 2022, the bank has not released one to its clients, nor does it have plans to do so in the immediate future.
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