This review was updated May 15th, 2018. Many of the offers appearing on this page are from advertisers from which this website receives compensation for being listed here, including Marcus by Goldman Sachs, CIT Bank, and American Express Personal Savings. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). These offers do not represent all financial offers available.

Marcus by Goldman Sachs is a recent entrant to the online savings account market with its high annual percentage yield (APY) savings account. The bank nailed a few important features, including low fees and an APY that's among the higher rates we know of. That's why it earned a spot as one of our picks of the top savings accounts (read our full list of the best high-yield savings accounts).

Bank Name APY Min. Opening Deposit Key Features

Marcus by Goldman Sachs

Goldman Sachs Bank USA


1.70% $0

-High APY

-$0 monthly maintenance fee

-$0 withdrawal limit fee

RELATED >> Compare hundreds of savings rates to find a high yield

What we like about Marcus by Goldman Sachs

  • High APY -- 1.70% is one of the highest rates we've seen for an online savings account. All account balances earn the same rate and are not tiered like some competitors', which ratchet down the APY as balances increase.
  • $0 minimum deposit -- This online savings account is easily accessible to all savers, regardless of minimum deposit at account opening. There is an ongoing $1 minimum to earn interest.
  • $0 monthly maintenance fee -- This account rightly doesn't charge a maintenance fee each month, which we think is a must-have for an online savings account.
  • $0 withdrawal limit fee -- Savings accounts are intended as a parking spot for your cash, but this savings account won't penalize you for surpassing the limit of six qualifying monthly withdrawals.

What could be improved for Marcus by Goldman Sachs

  • Mobile check deposit -- If mobile check deposits are a must-have, this account won't suit your needs. The savings account doesn't offer mobile deposit capabilities or a mobile app.
  • ATM card -- We'd rather the account offered some additional convenience features, including an ATM card to broaden your withdrawal options.

WANT YOUR SAVINGS TO EARN MORE? >> Check out current CD rates

How to fund a Marcus by Goldman Sachs savings account

Customers can deposit funds via electronic transfer from an external account, payroll or Social Security direct deposit, wire transfer, or by mailing a check. Mailed checks, electronic transfers, direct deposits, and incoming wires are free (though you're naturally responsible for the cost of a stamp and an envelope for snail mail). Notably absent are mobile check deposit capabilities, which is an important consideration as you search for your ideal savings account.

How to withdraw your money

You can move funds for free via electronic transfer or request an outgoing wire transfer.

Other high-yield online savings accounts to consider

We Fools value what this savings account offers, but we recognize that you may have different needs. We suggest visiting our banking center to compare hundreds of high-yield savings accounts, or reviewing some of our other top picks below, especially if cash bonuses and/or mobile capabilities are important.

Feature Marcus by Goldman Sachs American Express® Personal Savings CIT Bank Money Market
APY 1.70% 1.65% 1.85%
Min. opening deposit $0


Bonus $0 $0 $0
Monthly maintenance fee $0 $0 $0
Withdrawal limit fee $0 $0 $0
ATM card No No No
Free ATMs N/A N/A N/A
Mobile app No No Yes
Mobile deposit No No Yes
Bank review --  American Express® Personal Savings Review --

Final take

We think Marcus by Goldman Sachs deserves a spot on our short list of the best savings accounts, mostly due to its categorically high APY and focus on nixing fees. These two features may be the most important in a savings account, as fees can quickly eat away at interest earnings. A high APY and low fees may be plenty for most bank customers, but do consider other accounts if a bonus or a mobile app and mobile deposit capabilities are on your must-have list.

The Motley Fool's Golden Rule is our north star, and we'll guide you to best-in-class offerings, regardless of advertising relationships. Click here to learn how we pick the best banking accounts. We work feverishly to maintain current offer details, and some offers may vary from what's included on this page. Review bank sites for full details on costs, fees, and other important details before opening an account. This content is not provided by any bank advertisers included on this list. Any opinions, analyses, reviews or recommendations expressed in this article are those of the The Motley Fool's alone and have not been reviewed, approved or otherwise endorsed by included advertisers. The Motley Fool has a disclosure policy. The Motley Fool has no position in any of the stocks mentioned.