Updated
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 their annual percentage yields (APYs) compare to the best CD rates, and whether Marcus CDs are worth it.
Marcus by Goldman Sachs CD Rates
Rates as of April 23, 2024
APY = Annual Percentage Yield
Term
Marcus by Goldman Sachs High Yield CD
6 Mo.
9 Mo.
1 Yr.
1.5 Yr.
2 Yr.
3 Yr.
4 Yr.
5 Yr.
6 Yr.
4.80%
4.90%
4.90%
4.60%
4.20%
4.15%
4.05%
4.00%
3.90%
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 April 23, 2024
| Bank & CD Offer | APY | Term | Min. Deposit | Next Steps |
|---|---|---|---|---|
Member FDIC.
| APY: 5.10% | Term: 10 Months | Min. Deposit: $0 | |
Member FDIC.
| APY: 4.70% | Term: 1 Year | Min. Deposit: $2,500 | |
| APY: 5.05% | Term: 1 Year | Min. Deposit: $1 | |
|
| APY: 5.15% | Term: 9 Months | Min. Deposit: $1 | |
Member FDIC.
| APY: 4.75% | Term: 1 Year | Min. Deposit: $500 |
More details about Marcus CDs
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.
Pros and Cons of 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 High-Yield CDs Review
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.
Rates as of April 23, 2024
APY = Annual Percentage Yield
Marcus by Goldman Sachs High Yield CD
Bottom Line
Savers have the potential to create effective CD ladders through Marcus, as it provides competitive rates through the most common CD terms. The minimum deposit is $500 and withdrawal penalties are moderate compared with competitive banks.
MINIMUM DEPOSIT $500
| 6 Mo. APY | 9 Mo. APY | 1 Yr. APY | 1.5 Yr. APY | 2 Yr. APY | 3 Yr. APY | 4 Yr. APY | 5 Yr. APY | 6 Yr. APY |
|---|---|---|---|---|---|---|---|---|
| 4.80% | 4.90% | 4.90% | 4.60% | 4.20% | 4.15% | 4.05% | 4.00% | 3.90% |
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.
Who is a Marcus CD right for?
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.
Keep reading about Marcus
Our CDs methodology
At The Motley Fool Ascent, certificates of deposit (CDs) are rated on a scale of one to five stars, primarily focusing on annual percentage yield (APY) and early withdrawal penalty fees. Our highest-rated CDs generally include competitive APYs without complex qualification tiers, low withdrawal fees, reliable brand trust and reputation, and ease of use.
See our full Ratings Methodology here.
FAQs
-
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.
Our Banking Expert
Kevin Payne is a freelance writer and family travel and budget enthusiast behind FamilyMoneyAdventure.com. His work has been featured in Forbes Advisor, Credible, CreditCards.com, Bankrate, SlickDeals, Finance Buzz, Student Loan Planner, and more. Kevin lives in Cleveland, Ohio with his wife and four teenagers.
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