Marcus’ savings rate is a competitive annual percentage yield of 3.40%. Marcus consistently has a good rate; it’s made our best high-yield savings account list for years. And there are no minimum balance requirements or other hoops to earn the rate.
But it's not the highest rate out there.
Still, Marcus earns top marks from NerdWallet because it has other things going for it, including a 24/7 customer service center, top-notch certificates of deposit rates and a high same-day transfer limit. That last one is important because Marcus doesn’t offer a checking account. With the high same-day limit, you’re never far from your savings in case of an emergency.
The Marcus High Yield Online Savings account could work for you if you don’t mind keeping your checking and savings in separate banks and don’t need cash or mobile check deposit.
How Marcus’ savings rate compares to other banks
Marcus’ savings account interest rate of 3.40% APY is ultra competitive when compared to the national average of 0.38%.
Marcus’ rates start to trail when compared to some other online banks that specialize in savings.
- Peak Bank: 4.01% APY
- Openbank: 3.80% APY
- Bread Savings: 3.95% APY
Compared to online banks that offer excellent checking accounts as well as savings, Marcus’ rate is competitive.
- Capital One: 3.00% APY
- SoFi: 3.10% APY
- E*TRADE by Morgan Stanley: 3.50% APY
Marcus savings interest rate, fees and features
APY | 3.40%. |
Requirements to earn the APY | None. You earn the rate on any money in your account. |
Monthly fees | $0. |
Minimum opening deposit | $0. |
Savings features | Marcus doesn’t offer any particularly distinguishing savings features like some of its competitors. You can’t separate your money into buckets like you can with Ally, for example. |
Funding options |
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Withdrawal options |
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Same-day transfers available? | Yes, with a limit of up to $100,000 per day. |
Is the Marcus by Goldman Sachs savings account right for you?
This account is best if you:
- Want to know that your savings will consistently earn a good rate.
- Don’t need a one-stop shop for banking. Marcus does not offer a checking account.
- Are comfortable with online banking. Marcus doesn’t have branches but does have customer service that’s available 24/7 by phone.
- Don’t need to deposit cash or make mobile check deposits directly into savings. These deposit methods aren’t available here.
- Don’t want to open this account as a custodial or trust account, as Marcus doesn’t allow that.
Calculate what you can earn at Marcus
Use our savings interest calculator to see what your savings could earn at Marcus versus other banks.
Investment details
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Total Balance
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Nerdy Perspective
A high rate matters, but it’s not the only thing I care about. I also want an account that lets me move my money easily, offers good customer support and has tools that make it easy to track my savings goals.
Other savings accounts at Marcus to consider
Marcus’ only other consumer deposit accounts are its certificates of deposit, which have good rates and often make our best CD rates list. The bank also offers high-yielding no-penalty and bump-up CDs.
» See all of Marcus’ CD rates
Next steps
Compare
See what the most competitive savings accounts are earning.
Learn
If you're ready to open an account, learn what you'll need to have on hand.
Consider
If you have savings you can live without for a bit, consider opening a one-year CD to lock in an interest rate.
