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Marcus by Goldman Sachs CD Rates for October 2022

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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 by Goldman Sachs CD Rates

Marcus by Goldman Sachs High Yield CD
  • 1 Year APY: 3.00%
  • 2 Year APY: 3.10%
  • 3 Year APY: 3.15%
  • 4 Year APY: 3.20%
  • 5 Year APY: 3.30%
Rates as of Sept. 28, 2022
Term
Marcus by Goldman Sachs High Yield CD
1 Year
2 Year
3 Year
4 Year
5 Year
3.00%
3.10%
3.15%
3.20%
3.30%

Compare Marcus CD Rates

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.

Rates as of Sept. 28, 2022
Lender
Account
1 yr. apy
2 yr. apy
3 yr. apy
4 yr. apy
5 yr. apy
Min. deposit
Early Withdrawal Penalty
Next Steps
Logo for Marcus by Goldman Sachs High Yield CD
Member, FDIC
Marcus by Goldman Sachs High Yield CD
3.00%
3.10%
3.15%
3.20%
3.30%
$500
Yes
Logo for Discover High Yield CD
Member, FDIC
3.00%
3.10%
3.15%
3.20%
3.30%
$2,500
Yes
Logo for CIT Bank CD
Member, FDIC
0.30%
0.40%
0.40%
0.50%
0.50%
$1,000
Yes

Marcus' CD Account Review

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 High-Yield CDs

PROS

  • Competitive rates
  • Nine term lengths
  • Can add additional funds to High-Yield CD for the first 30 days

CONS

  • $500 minimum deposit

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. 

Other Marcus CD accounts

Marcus also offers the following CD accounts:

  • No-Penalty CDs: these accounts allow you to withdraw any amount starting seven days from account opening.

FAQs

  • 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. 

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