Top Offers of June 22, 2024
You could get over 10 times** the average national savings account rate with our featured partners below.
*Annual Percentage Yield
**Accurate as of June 2024, assuming FDIC average savings rate of 0.45% and $2,500 deposit.
Why You Can Trust the MarketWatch Guides Team
Here’s a breakdown of how we reviewed and rated top banks and credit unions
154
Institutions MonitoredOur team reviewed more than 100 of the country’s largest and most prominent financial institutions, from big banks like Chase and Bank of America to credit unions like Navy Federal Credit Union and PenFed Credit Union.
688
Products StudiedTotal number of checking, saving, CDs, and money-market accounts that inform our review ratings.
719
Rates TrackedThe accounts with an annual percentage yield (APY) several times the national average rate receive the highest scores. Accounts with the lowest APY offering (under 1%) earn the least points.
10
Professionals ConsultedBefore we began our research process, we consulted with financial advisors and industry experts to ensure our evaluations covered the banking product aspects that matter most to potential customers.
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 above 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% or 5% APY.
| CD Term | APY* | Minimum Deposit | $1,000 Deposit Value at Close of CD |
| 6 months | 5.10% | $500 | $1,025.83 |
| 9 months | 5.00% | $500 | $1,037.27 |
| 1 year | 5.00% | $500 | $1,051.27 |
| 18 months | 4.60% | $500 | $1,071.43 |
| 2 years | 4.20% | $500 | $1,087.62 |
| 3 years | 4.15% | $500 | $1,132.57 |
| 4 years | 4.05% | $500 | $1,172.10 |
| 5 years | 4.00% | $500 | $1,221.39 |
| 6 years | 3.90% | $500 | $1,258.04 |
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.
| CD Term | APY* | Minimum Deposit | $1,000 Deposit Value at Close of CD |
| 7 months | 4.70% | $500 | $1,027.15 |
| 11 months | 4.70% | $500 | $1,043 |
| 13 months | 4.70% | $500 | $1,051.02 |
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.
| CD Term | APY* | Minimum Deposit | $1,000 Deposit Value at Close of CD |
| 20 months | 4.40% | $500 | $1,074.40 |
>> 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 4.40% is significantly higher than the average savings account rate of 0.49%. 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 | 5.00% | $500 | $2,628.17 |
| Ally | 4.50% | $0 | $2,615.06 |
| Bank of America | 4.00% (flexible CD) | $1,000 | $2,601.85 (flexible CD) |
| Capital One | 5.00% | $0 | $2,627.90 |
| Citi | 2.00% (fixed-rate CD below $100,000) | $500 | $2,550.50 (fixed-rate CD below $100,000) |
| Discover | 4.70% | $2,500 | $2,620.30 |
| Synchrony Bank | 4.80% | $0 | $2,622.92 |
>> 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 June 2024 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 around 4% APY for five- and six-year high-yield CDs to around 5% APY for short-term high-yield CDs.
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.
If you have feedback or questions about this article, please email the MarketWatch Guides team ateditors@marketwatchguides.com.
Lauren WardContributor
Lauren Ward is a personal finance writer covering topics like banking, real estate and financial services. Her work has appeared in USA Today Blueprint, Fox Business and more.
Jared MacarinEditor
Jared is an editorial veteran who joined Home Solutions after more than 20 years in the newspaper industry. He has written, edited or designed more than 50 newspapers across the country, winning numerous awards. Jared has also edited and wrote for Forbes Advisor, Lending Tree, The Streamable and Lonely Planet. When he isn’t working, Jared enjoys spending time with his wife on outdoor adventures, watching sports and reading.
