If you're looking for CDs that earn big, check out Marcus CD rates. Marcus by Goldman Sachs offers nine CD terms with impressive interest rates, and no-penalty CDs for customers who want early access to funds. Here's a more detailed look at Marcus CD rates, how they compare to the best CD rates, and whether Marcus CDs are worth it.
Marcus CD rates are among the highest rates in the market, but it may be worth comparing other CD accounts to find the right fit for your needs. See below for a selection of CD rates with high yields.
A Marcus CD can be a good place to keep a college fund, vacation fund, or other savings that you won't need to access short-term.
Marcus by Goldman Sachs offers two CD types, with High-Yield CDs as the primary offering. There are a host of term lengths to meet most needs, ranging from six months to six years. With so many term options, Marcus CDs are great for building a CD ladder, which gives customers more flexibility with their money.
Marcus High-Yield CDs require a $500 minimum deposit. Several online banks have no deposit requirements, but don't let that deter you from opening a Marcus CD. With its competitive rates and the ability to add more money to your CDs for 30 days, you can maximize your savings.
The interest you earn is automatically added to your CD's principal balance each month, but there is an option to transfer it to another bank account. Withdrawing your CD balance prior to maturity will result in early withdrawal penalties of up to 365 days of simple interest.
Marcus CDs come with fixed rates. As long as you fund your account with the $500 minimum within 10 days of opening, you'll lock in Marcus' highest rate available during that time frame.
Marcus also offers the following CD accounts:
Marcus CDs are perfect for people who want to earn high-yield interest and don't need their money for a while. They are also great for those who prefer online banking over traditional methods, since Marcus accounts are only available online.
Marcus' competitive CD rates are the main draw, but don't overlook the fact that you can continue to add funds for the first 30 days. Adding more funds allows you to earn even more interest over time.
Even with a $500 minimum deposit, Marcus CD rates make the investment more than worth it, especially with 12-month terms (or longer). Before you open an account, be sure you don't need access to those funds during the term so you don't get hit with a penalty, which can eat away at any interest earned.
We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team. The Motley Fool has a Disclosure Policy. The Author and/or The Motley Fool may have an interest in companies mentioned.
The Ascent is a Motley Fool service that rates and reviews essential products for your everyday money matters.
Copyright © 2018 - 2021 The Ascent. All rights reserved.