Marcus by Goldman Sachs CD Interest Rates for February 2025 (original) (raw)
Marcus by Goldman Sachs is the online-only division of one of the world’s largest global investment banks. Its CDs offer competitive deposit rates, which can help you make the most of your money. In addition to CDs, the bank has a high-yield savings account, credit cards and investment accounts. In this article, the MarketWatch Guides team breaks down Marcus CD rates to help you decide if these accounts suit your personal finance goals.
Key Takeaways
- Marcus by Goldman Sachs offers more than a dozen CDs with competitive rates that beat those at most traditional banks.
- The online bank offers high-yield, no-penalty and rate bump CDs, in addition to a high-yield savings account.
- The highest rates are typically available with its short-term standard CDs.
- Marcus is best for people who have at least $500 to open a CD and are comfortable banking entirely online.
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Marcus CD Rates
Marcus offers three types of CDs and term lengths from just a few months to several years. Rates are competitive compared to other banks, with some close to 5% APY. There are also multi-year CDs that offer above 4% APY, making it easy to create a CD ladder. All Marcus CDs are insured by the Federal Deposit Insurance Corp. (FDIC) up to $250,000.
Marcus High-Yield CDs
The bank’s standard high-yield CDs range from six months to six years. Depending on the term you choose, you can lock in fixed rates above 4% APY.
| Marcus CD Term | APY* | Minimum Deposit | $1,000 Deposit Value at Close of CD |
|---|---|---|---|
| 6 months | 4.10% | 500∣500 | 500∣1,020.71 |
| 9 months | 4.30% | 500∣500 | 500∣1,032.77 |
| 1 year | 4.25% | 500∣500 | 500∣1,043.41 |
| 18 months | 4.00% | 500∣500 | 500∣1,061.83 |
| 2 years | 3.80% | 500∣500 | 500∣1,078.96 |
| 3 years | 3.75% | 500∣500 | 500∣1,119.07 |
| 4 years | 3.75% | 500∣500 | 500∣1,161.83 |
| 5 years | 3.75% | 500∣500 | 500∣1,206.22 |
| 6 years | 3.75% | 500∣500 | 500∣1,252.31 |
*APY accurate as of February 6, 2025.
Marcus No-Penalty CD Rates
The no-penalty CD from Marcus lets you withdraw your entire balance before the CD matures without paying an early withdrawal penalty. This perk kicks in seven days after you fund your account with at least $500.
| Marcus CD Term | APY* | Minimum Deposit | $1,000 Deposit Value at Close of CD |
|---|---|---|---|
| 7 months | 4.00% | 500∣500 | 500∣1,023.61 |
| 11 months | 4.00% | 500∣500 | 500∣1,037.35 |
| 13 months | 4.00% | 500∣500 | 500∣1,044.28 |
*APY accurate as of February 6, 2025.
Marcus Rate-Bump CD Rates
A rate-bump CD from Marcus can benefit you if rates rise before your CD’s maturity date. Your APY is locked in for the 20-month term, so it won’t be affected if rates in the market drop. But if Marcus raises the rate it offers for your CD term, you can switch to the higher rate. You can upgrade your rate one time during your CD term.
| Marcus CD Term | APY* | Minimum Deposit | $1,000 Deposit Value at Close of CD |
|---|---|---|---|
| 20 months | 3.90% | 500∣500 | 500∣1,074.40 |
*APY accurate as of November 14, 2024. Deposit at close of CD assumes no change in APY.
>> Related: Check out the** rates on top CDs**
Marcus CDs: Additional Information
Like with most CDs, there’s an early withdrawal penalty for taking your deposit out of a Marcus high-yield or rate-bump CD. Accounts with terms up to a year lose 90 days of interest earned on the principal balance. Accounts with terms more than one year and up to five years lose 180 days of interest, and those with terms over five years lose 270 days of interest. You can, however, withdraw interest without a penalty.
Here’s what else you need to know about CDs from Marcus, which is an FDIC member:
- Compounding:Interest is compounded daily and is added to your account each month.
- Minimum requirements: All Marcus CDs require a minimum initial deposit and minimum balance of $500.
- 10-day CD rate guarantee: If rates for your CD term rise within 10 days of you opening and funding your account, you’ll get the higher interest rate.
>> Related: Learn more about different CDs
Other Ways To Save With Marcus
Another option to save with Marcus is its high-yield savings account. There’s no minimum opening deposit, and its deposit rate of 3.90% is significantly higher than the average savings account rate of 0.46%. Plus, Marcus doesn’t charge a monthly fee for its online savings account.
Marcus doesn’t have money market accounts or checking accounts.
>> Related: Learn more about the best high-interest savings accounts
How To Open a Marcus CD
There are no physical Marcus branches, so here’s how to open a CD online:
- Open the application page and choose your CD type and term.
- Enter personal details, such as your address, date of birth and Social Security number.
- Transfer at least $500 into your CD account from another bank account.
Marcus CD Rates vs. Competitors
CDs from Marcus by Goldman Sachs offer some of the best rates compared to other financial institutions, including online banks. Synchrony Bank and Capital One may have an edge with a slightly lower rate because unlike Marcus, they don’t require a minimum opening deposit.
| Bank | APY on 1-Year CD* | Minimum Deposit | $2,500 Deposit Value at Close of CD |
|---|---|---|---|
| Marcus | 4.25% | $500 | $2,608.53 |
| Ally | 3.90% | 0∣0 | 0∣2,599.42 |
| Bank of America | 0.03% (flexible CD) | 1,000∣1,000 | 1,000∣2,500.75 |
| Capital One | 4.00% | 0∣0 | 0∣2,601.85 |
| Citi | 3.00% (fixed-rate CD below 100,000)∣100,000) | 100,000)∣500 | 2,576.13(fixed−rateCDbelow2,576.13 (fixed-rate CD below 2,576.13(fixed−rateCDbelow100,000) |
| Discover | 4.00% | 2,500∣2,500 | 2,500∣2,602.02 |
| Synchrony Bank | 4.00% | 0∣0 | 0∣2,602.02 |
*APY accurate as of February 6, 2025. Rates may vary by location. Bank of America rates are for Charlotte, N.C., and Citi rates are for New York.
>> Related: Learn more about the best 12-month CDs
The Bottom Line: Why Choose Marcus CD?
Marcus offers a range of CD terms with competitive APYs, which could be useful for creating a CD ladder to lock high rates in. Whether you want to keep your funds accessible in a short-term CD or leave them invested for a longer term, you’ll find plenty of options with Marcus. For more flexibility, the bank offers no-penalty and rate-bump CDs to meet your savings goals.
>> Related: Learn more in our review of Marcus
Marcus by Goldman Sachs CD February 2025 Rankings
- Best 6-Month CD Rates: #2
- Best 1-Year CD Rates: #3
- Best CD Rates: #4
FAQ: Marcus by Goldman Sachs CD Rates
CD rates at Marcus today range from 3.75% to 4.30% APY.
No, it’s not common to get 6% APY on a CD. Rates in this range were previously offered at some small credit unions or as short-term promotions. The best CD rates now usually hover just over 5% APY.
Interest on a Marcus CD is compounded daily and added to your account monthly.
**Data accurate at time of publication
Editor’s Note: Before making significant financial decisions, consider reviewing your options with someone you trust, such as a financial adviser, credit counselor or financial professional, since every person’s situation and needs are different.
Parts of this story were auto-populated using data from Curinos, a research firm that collects data from more than 3,600 banks and credit unions. For more details on how we compile daily rate data, check out our methodology here.