Marcus CD Rates: How They Compare

Marcus by Goldman Sachs offers high-yield CDs with a low opening minimum, as well as no-penalty and bump-up CDs.
Sep 20, 2022
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Marcus by Goldman Sachs CD rates 2022

  • 1-year: 3.00% APY

  • 3-year: 3.15% APY

  • 5-year: 3.30% APY

  • 20-month bump-up: 2.50% APY

  • 7-month no-penalty: 0.45% APY

  • 11-month no-penalty: 0.35% APY

  • 13-month no-penalty: 2.20% APY

Marcus by Goldman Sachs High-Yield CD
NerdWallet rating 

at Marcus by Goldman Sachs, Member FDIC

The online bank Marcus by Goldman Sachs offers some of the highest rates for certificates of deposit among online banks and a low minimum opening requirement of $500. It also has competitive yields for no-penalty CDs and a bump-up CD.

Marcus CD rates

Marcus offers three types of CDs:

  • High-yield CDs: These CDs have fixed rates and are subject to early withdrawal penalties. Rates are solid, including its one-year CD with 3.00% APY (annual percentage yield) as of 09/22/2022.

  • No-penalty CDs: These CDs also have fixed rates as well as the added benefit of no early withdrawal penalty, meaning you can withdraw the full amount any time after the first seven days without cost.

  • Bump-up CDs (or what Marcus calls “Rate Bump CDs”): These CDs have fixed rates with the possibility of one or more rate increases if the bank raises the rate on newly issued Rate Bump CDs. The CDs are subject to early withdrawal penalties.

CD term

CD rate

Minimum deposit

6-month CD

2.00% APY

$500

7-month no-penalty CD

0.45% APY

$500

9-month CD

2.10% APY

$500

11-month no-penalty CD

0.35% APY

$500

1-year CD

3.00% APY

$500

13-month no-penalty CD

2.20% APY

$500

18-month CD

3.00% APY

$500

20-month bump-up CD

2.50% APY

$500

2-year CD

3.10% APY

$500

3-year CD

3.15% APY

$500

4-year CD

3.20% APY

$500

5-year CD

3.30% APY

$500

6-year CD

3.30% APY

$500

» Want more options? See the best CD rates

Marcus no-penalty CD rates

Marcus by Goldman Sachs' no-penalty CDs balance flexibility and solid returns. They're currently featured on our list of the best no-penalty CD rates. Here's a look at the rates:

CD term

CD rate

7-month no-penalty CD

0.45% APY

11-month no-penalty CD

0.35% APY

13-month no-penalty CD

2.20% APY

Marcus bump-up CD rate

Marcus’ Rate Bump CD has a key advantage during a rising-rate environment. You may have the chance to get a rate increase during the CD term, which is a rare perk that reduces the risk of missing out on even higher rates in the near future.

CD term

CD rate

20-month bump-up CD

2.50% APY

More details about Marcus CDs

Minimum deposit

$500.

Monthly fee

None, which is common for CDs.

Range of CD terms

6 months to 6 years.

Early withdrawal penalty

  • 90 days' (3 months) worth of interest for CDs of terms less than 1 year.

  • 180 days' (6 months) worth of interest for CDs of terms from 1 to 5 years.

  • 270 days' (9 months) worth of interest for CDs of terms longer than 5 years.

*The penalty can include more than actual interest earned if the withdrawal occurs early enough. A rare few institutions only penalize based on the days a CD was opened, instead of the maximum penalty regardless of how early you deposit.

Bonus rate feature

10-Day Best Rate Guarantee. If you fund your CD within the first 10 days (opening day plus 10 days), you receive the best rate offered during that time. For example, if Marcus raises its five-year CD rate three days after you fund a five-year CD, you'll get the higher rate. This feature also applies to the first 10 days after a CD renews.

Compounding period

Daily. (This detail helps you estimate what you can earn using a CD calculator.)

Grace period

10 days after the CD's maturity date. Marcus CDs automatically renew, so this 10-day window is the only time to withdraw without getting hit by a penalty (except for no-penalty CDs).

Marcus IRA CD available?

No; see other banks' options on our list of the best IRA CD rates.

» Learn more about accounts on our Marcus by Goldman Sachs review

What to consider when opening CDs

  • Interest rates are fixed. If you open a Marcus CD today, its annual percentage yield will stay the same until the CD expires. This enables you to lock in a CD if rates are relatively high, though there is a risk of losing out if rates continue to rise. It’s hard to know when CD rates go up, but CD rates are trending upward thanks to multiple Fed rate increases this year. Here’s a quick look at historical CD rates, including this year’s. Or, if you want a sample of rates each month, see current CD rates.

  • You lose interest if you withdraw early. CDs are built to keep your money out of sight, out of mind. If you dip into a standard Marcus CD before it expires, there’s an early withdrawal penalty, which means losing some or all of the interest you earned. There is an exception: a Marcus no-penalty CD (compare with other no-penalty CDs).

» On the fence about a CD? If there’s a chance you’ll need easier access to your money, look into the best high-yield savings accounts instead.

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Member FDIC

LendingClub CD

LendingClub Bank logo
APY

3.00%

Term

1 year

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on Nationwide's website

Nationwide CD

Nationwide logo
APY

2.80%

Term

1 year

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Member FDIC

LendingClub CD

LendingClub Bank logo
APY

3.25%

Term

2 years

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Member FDIC

LendingClub CD

LendingClub Bank logo
APY

3.00%

Term

1 year

Nationwide logo
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on Nationwide's website

Nationwide CD

Nationwide logo
APY

2.80%

Term

1 year

LendingClub Bank logo
Learn More

Member FDIC

LendingClub CD

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APY

3.25%

Term

2 years

More about Marcus by Goldman Sachs

Marcus is an online-only consumer bank division of the Wall Street investment firm Goldman Sachs. Compared to traditional banks, it offers a more limited range of financial products, including high-yield savings accounts, investment accounts, personal loans and a credit card co-branded with General Motors Co. Marcus doesn’t have a checking account or access to an ATM network. For high-yield savings and CDs, savings rates are high, and there are no monthly fees. Marcus has highly rated mobile apps, and phone support is available 24/7 for savings customers.

Online banks like Marcus tend to have top savings rates and low minimums. Compare the best online banks or see the best high-interest bank accounts.

Marcus has high CD rates and three types of CDs

Marcus by Goldman Sachs High-Yield CD
NerdWallet rating 

at Marcus by Goldman Sachs, Member FDIC

Marcus by Goldman Sachs CDs are top of the line thanks to competitive rates, low minimums and multiple CD types and terms. You can choose between standard and no-penalty CDs. If you want to compare more options, check out our list of best CD rates this month.

How do CDs work?

Learn more about the journey of choosing, understanding rates, opening and closing CDs.

For choosing CDs:

For understanding CD rates:

For opening CDs:

For closing CDs:

See CD rates by term and type

Compare the best rates for various CD terms and types:

See CD rates by bank

Here’s a quick list of CD rates at traditional and online banks and a brokerage:

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