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Marcus CD Rates: How They Compare

Jan. 2, 2020
Banking, CDs
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4.0 NerdWallet rating
Goldman Sachs Bank USA

at Goldman Sachs Bank USA,

Member, FDIC

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

Marcus CD rates

Marcus offers two types of CDs:

  • Standard CDs (or what it calls “High-Yield CD”): These CDs have fixed rates and are subject to early withdrawal penalties.
  • 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.
6-month CD0.60% APY
7-month no-penalty CD1.90% APY
9-month CD0.70% APY
11-month no-penalty CD2.00% APY
1-year CD2.15% APY
13-month no-penalty CD1.65% APY
18-month CD2.05% APY
2-year CD2.10% APY
3-year CD2.10% APY
4-year CD2.10% APY
5-year CD2.25% APY
6-year CD2.30% APY

» Want more options? See the best CD rates

How Marcus CD rates compare

Marcus by Goldman Sachs competes well with online bank CDs. Let’s compare:

NerdWallet bank rating:
4.5 NerdWallet rating

Goldman Sachs Bank USA

at Goldman Sachs Bank USA,

Member, FDIC

NerdWallet bank rating:
4.0 NerdWallet rating
Barclays

at Barclays,

Member, FDIC

NerdWallet bank rating:
4.0 NerdWallet rating



1-year APY


2.00%



3-year APY


1.65%


5-year APY



1.60%



Minimum deposit



No minimum






1-year APY


2.15%



3-year APY


2.10%


5-year APY



2.25%



Minimum deposit



$500






1-year APY


2.00%



3-year APY


2.00%


5-year APY



2.10%



Minimum deposit



No minimum




Compare more banks and CD rates here

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

More details about Marcus CDs

Minimum deposit$500
Monthly feeNone, which is common for CDs
Range of CD terms6 months to 6 years
Early withdrawal penalty

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

  • 270 days' (9 months) worth of interest* for CDs of terms from 1 to 5 years.

  • 365 days' (1 year) 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.
Bonus rate feature10-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 drops its five-year CD rate three days after you fund a five-year CD, you get to keep the higher rate. This feature also applies to the first 10 days after a CD renews.
Compounding periodDaily. (This detail helps you estimate what you can earn using a CD calculator.)
Grace period10 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.

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 benefits you if you lock in a CD before rates start dropping, but on the flip side, you’ll earn less on a CD if rates keep rising. It’s hard to know when CD rates will go up, since it depends on the Fed rate and other factors.
  • 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.

High rates, plus no-penalty CD options

Goldman Sachs Bank USA

at Goldman Sachs Bank USA,

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.

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