Marcus CD Rates 2024: How They Compare
Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.
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 4.90% APY (annual percentage yield) as of 03/20/2024.
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 rate increase 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 | 4.80% APY. | $500. |
7-month no-penalty CD | 4.70% APY. | $500. |
9-month CD | 4.90% APY. | $500. |
11-month no-penalty CD | 4.70% APY. | $500. |
1-year CD | 4.90% APY. | $500. |
13-month no-penalty CD | 4.70% APY. | $500. |
18-month CD | 4.60% APY. | $500. |
20-month bump-up CD | 4.40% APY. | $500. |
2-year CD | 4.20% APY. | $500. |
3-year CD | 4.15% APY. | $500. |
4-year CD | 4.05% APY. | $500. |
5-year CD | 4.00% APY. | $500. |
6-year CD | 3.90% 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 | 4.70% APY. |
11-month no-penalty CD | 4.70% APY. |
13-month no-penalty CD | 4.70% 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 | 4.40% 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 |
*The penalty can include more than actual interest earned if the withdrawal occurs early enough. |
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. (The exception is the bump-up CD.) Here’s a quick look at historical CD rates. 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.
Member FDIC
Barclays Online CD
5.00%
1 year
Member FDIC
Discover® CD
4.70%
1 year
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 credit cards 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.
Compare CD Rates: Marcus vs. Synchrony vs. Ally
If you’re considering high-yield, no-penalty and bump-up CDs, there are three online banks that have them all: Ally Bank, Marcus by Goldman Sachs and Synchrony Bank. See how they differ based on three CDs each:
High-yield CDs | |
Marcus’ 1-year CD | 4.90% APY (annual percentage yield) as of 03/20/2024. |
Synchrony’s 1-year CD | 4.80% APY. |
Ally’s 1-year CD | 4.50% APY. |
No-penalty CDs | |
Marcus’ 13-month CD | 4.70% APY. |
Synchrony's 11-month CD | 0.25% APY. |
Ally’s 11-month CD | 4.00% APY. |
Bump-up CDs | |
Marcus’ 20-month Rate Bump CD | 4.40% APY. |
Synchrony’s 2-year Bump-Up CD | 3.60% APY. |
Ally’s 2-year Raise Your Rate CD | 3.75% APY. |
See CD rates by term and type
Compare the best rates for various CD terms and types:
How do CDs work?
Learn more about choosing CDs, understanding CD rates, and opening and closing CDs.
For choosing CDs:
For understanding CD rates:
For opening CDs:
For closing CDs:
See CD rates by bank
Here’s a quick list of CD rates at traditional and online banks and a brokerage:
On a similar note...
