Marcus by Goldman Sachs is an online-only bank offering a wide range of certificates of deposit with competitive rates — whether you need a specialty CD or a high-yield CD with a specific term in mind.
We also like that Marcus automatically boosts your CD rate if the bank’s rates rise within 10 days of opening your CD — a feature only a few banks, like Ally, offer. But unlike many online-only banks that don’t have a minimum deposit, you’ll need $500 to open a CD account with Marcus. If you want the flexibility to deposit and withdraw funds over time, Marcus’s high-yield savings account may be a better fit for your funds.
Marcus CDs: At a glance
| CD type | Minimum deposit | Term | Early withdrawal penalty |
| High-yield | $500 | 6-month to 6-year | 90 to 270 days’ interest, depending on the term (longer terms have higher withdrawal penalties) |
| No-penalty | $500 | 7- to 13-month | None |
| Rate-bump | $500 | 20-month | 180 days’ interest |
Marcus CD rates
Currently, Marcus’ 12-month CD offers the bank’s highest rate: 5.20% annual percentage yield, or APY. This bank also offers a unique six-year CD term, but its 4.00% APY isn’t particularly impressive when high-yield savings accounts, Treasury bills and money market accounts offer higher without sacrificing liquidity over a longer time.
Marcus’ seven- and 11-month no-penalty CDs — a type of CD that lets you withdraw your money before the term ends, fee-free — have low rates. But its 13-month no-penalty option yields a solid 4.60% APY.
Lastly, its rate-bump CD — which lets you raise your rate once over the CD’s lifetime — earns a respectable 4.50% for a 20-month term.
We like that all Marcus CD interest compounds daily, which helps your savings grow a bit faster than CDs that compound monthly or quarterly.
Marcus by Goldman Sachs is a member of the Federal Deposit Insurance Corporation, which means funds deposited in its CD accounts are insured up to the maximum allowed by law. This equates to $250,000 for all your individually owned accounts combined and $250,000 per owner for jointly owned accounts.
Marcus high-yield CDs
| Term | APY |
| 6-month | 4.90% |
| 9-month | 5.00% |
| 12-month | 5.20% |
| 18-month | 5.15% |
| 2-year | 4.60% |
| 3-year | 4.40% |
| 4-year | 4.20% |
| 5-year | 4.10% |
| 6-year | 4.00% |
Marcus no-penalty CDs
| Term | APY | Minimum deposit |
| 7-month | 0.45% | $500 |
| 11-month | 0.35% | $500 |
| 13-month | 4.60% | $500 |
Marcus rate-bump CD
How much can you earn with a Marcus high-yield CD?
Here’s how much your savings could grow if you invest $1,000 in a Marcus high-yield CD.
| CD term | APY | Total interest earned |
| 6-month | 4.90% | $24.21 |
| 9-month | 5.00% | $37.27 |
| 12-month | 5.20% | $52.00 |
| 18-month | 5.15% | $78.24 |
| 2-year | 4.60% | $94.12 |
| 3-year | 4.40% | $137.89 |
| 4-year | 4.20% | $178.88 |
| 5-year | 4.10% | $222.51 |
| 6-year | 4.00% | $265.32 |
How much you’ll earn with Marcus’ specialty CDs
Here’s how much you could earn if you invest $1,000 in a Marcus specialty CD.
| No-penalty, 7-month | 0.45% | $2.62 |
| No-penalty, 11-month | 0.35% | $3.21 |
| No-penalty, 13-month | 4.60% | $49.93 |
| Rate-bump, 20-month | 4.5% | $76.12 without any rate increase |
How do Marcus’ CD rates compare?
Marcus by Goldman Sachs offers some of the most rewarding APYs you can find — often more than three times higher than FDIC averages.
| CD term | FDIC | Marcus |
| 6-month | 1.39% | 4.90% |
| 1-year | 1.79% | 5.20% |
| 3-year | 1.38% | 4.40% |
| 5-year | 1.38% | 4.10% |
However, other banks offer CD APYs comparable – and sometimes even higher — than Marcus by Goldman Sachs. Here’s how Marcus stacks up against Synchrony, Capital One, Ally and Wells Fargo.
| Bank | 6-month | 1-year | 3-year | 5-year |
| Marcus by Goldman Sachs | 4.90% | 5.20% | 4.40% | 4.10% |
| Synchrony | 5.25% | 5.30% | 4.30% | 4.00% |
| Capital One | 4.30% | 5.00% | 4.30% | 4.10% |
| Ally Bank | 3.50% | 5.00% | 4.25% | 4.10% |
| Wells Fargo | 2.50% | 1.50% | N/A | N/A |
Check out CNET’s guide to the best CD rates to compare rates across other top banks.
What other savings options does Marcus offer?
In addition to its diverse suite of CD options, Marcus offers a high-yield online savings account that earns 4.40% APY. If you want easy access to your funds, a high-yield savings account may be better than a CD, even though you can’t lock in your rate like you can with a CD. Marcus’ savings account has no fees or account minimums to worry about, and unlike a CD, you can add funds at any time to grow your savings.
Should I get a CD from Marcus by Goldman Sachs?
The main draw of a CD is locking in your savings rate. Since Marcus offers some of the best CD rates available today, Marcus is a good option to explore if you want to earn a predictable return on your money while rates are high.
However, we recommend taking the time to compare rates in the current high-interest rate environment. You might find rates or other perks that are a better fit for you. For example, if you don’t want to deposit $500 to open an account, you may consider other banks, such as Ally or Synchrony, for a competitive rate with no minimum deposit required.
Or if you’re unsure about locking your money away for a specific period, consider a high-yield savings account, money market account or no-penalty CD with a high rate.
The editorial content on this page is based solely on objective, independent assessments by our writers and is not influenced by advertising or partnerships. It has not been provided or commissioned by any third party. However, we may receive compensation when you click on links to products or services offered by our partners.
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