Newest Marcus by Goldman Sachs Promotions, Bonuses, Offers and Coupons: September 2022

Marcus by Goldman Sachs promotions

Named for the founder of investment firm Goldman Sachs, Marcus by Goldman Sachs Member FDIC offers savings products and personal loans for individuals. The bank has a simplified product line that includes a high-yield savings account, certificates of deposit and personal loans. Marcus by Goldman Sachs offers some of the highest interest rates available for savings products.

Banks want your business. Many of them are willing to pay you hundreds in cash when you open a new account or use their branded credit card. And in the current economy, extra money is a good thing.

Like most banks, Marcus by Goldman Sachs occasionally runs special promotions to attract new customers. No account-specific Marcus by Goldman Sachs promotions are available this month, but the bank does offer other ways to save, including referral bonuses and credit card bonus rewards. Here’s a closer look at the savings options.

Referral Bonus

Marcus by Goldman Sachs offers a savings account rate boost if you refer a new customer.

Marcus Referred: 1.00% Savings APY Boost

Both the referrer and the referred customer can receive a 1.00% annual percentage yield boost on their online savings accounts for three months if they meet the conditions of Marcus Referred. The best part? Customers can earn the rate boost up to five times each calendar year.

  • Cash value: Varies by account balance
  • Minimum deposit to qualify: None
  • Expiration date: Sept. 30, 2022
  • How to get it: Find your referral link in the Marcus Referral Center and provide it to the person you’d like to refer. Once they open a new online savings account or certificate of deposit using your link, you’ll earn the rate boost.
  • How people you refer can get their bonus: Using the link provided by the referrer, open a new online savings account — certificates of deposit are not eligible for the bonus.
  • When you’ll get it: One business day after the referred customer successfully opens the required account
  • Terms and conditions: Referred customers must not have had a savings account or certificate of deposit with Marcus for at least 12 months prior to being referred. Adding a customer to a joint account does not qualify. To receive the bonus, accounts must be open and in good standing.
  • Monthly fee: None
  • Promotion page: Marcus Referred
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Credit Card Bonuses

Marcus by Goldman Sachs offers new member bonuses for all three of its GM co-branded credit cards.

: 15,000 Bonus Points

The My GM Rewards Card from Marcus offers 7x points on purchases made from GM and 4x points on everything else with no annual fee. Points can be redeemed for vehicles and services at GM dealerships or up to $250 in gift cards each year. The card offers 15,000 bonus points for new cardholders who meet the purchase requirements and offers an introductory 0% APR for the first 12 months, followed by a .

  • Cash value: $1,000
  • Minimum spend to qualify: $1,000
  • Expiration date: None
  • How to get it: Spend $1,000 on your My GM Rewards card within the first 3 months of opening the account
  • When you’ll get it: After the account has been open for at least 3 months and requirements are met
  • Terms and conditions: Purchases of traveler’s checks, lottery tickets, casino chips or similar items that can be traded for money are not eligible. Only one bonus offer is available per card. Account must be in good standing.
  • Annual fee: None
  • Promotion page: My GM Rewards Card

: $750

The GM Business card from Marcus by Goldman Sachs offers 5% cash back in Earnings from purchases of parts or services at GM dealerships, 3% at office supply stores and restaurants and on gas and 1% on everything else, and Earnings don’t expire. The GM Business card has a new customer offer of $750 in bonus Earnings and an introductory 0% APR for the first 12 months, followed by a .

  • Cash value: $750
  • Minimum spend to qualify: $5,000
  • Expiration date: None
  • How to get it: Spend $5,000 in the first five months after the account is opened
  • When you’ll get it: After the account has been open for at least five months and requirements are met
  • Terms and conditions: Cash advances, ATM withdrawals and similar charges do not count toward the $5,000 minimum spend. Account must be in good standing to earn rewards. Earnings can only be redeemed by either purchasing or leasing a GM vehicle.
  • Annual fee: None
  • Promotion page: GM Business Card
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GM Extended Family Card™: $100

The GM Extended Family card is geared toward GM employees and suppliers. It offers 1% cash back on all purchases and can be combined with a GM employee or supplier discount when purchasing a GM vehicle. It is currently offering a $100 Earnings reward for new cardholders.

  • Cash value: $100
  • Minimum spend to qualify: $1,000
  • Expiration date: None
  • How to get it: Spend $1,000 on your GM Extended Family card in the first 3 months after opening the account.
  • When you’ll get it: After the account has been open for at least 3 months and requirements are met
  • Terms and conditions: ATM withdrawals, transfers and other cash-like transactions do not qualify. Earnings can only be redeemed by either purchasing or leasing a GM vehicle. Account must be in good standing.
  • Annual fee: None
  • Promotion page: GM Extended Family Card

Marcus by Goldman Sachs Accounts

The bank also offers everyday ways to save. Over time, the savings add up and may even exceed what you might get in a sign-up bonus. Here’s a closer look at the savings options.

High-Yield Savings Account

The standout feature of Marcus by Goldman Sachs’s high-yield savings account is the annual percentage yield. At APY, it far exceeds the national average of 0.06% APY. If the high rate isn’t enough, the account also comes with no fees or minimum balance requirements. Other banks, like Bank of America and Chase, charge $5 to $25 per month for savings accounts. By comparison, a Marcus savings account can save you from $60 to $300 a year.

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You can link to other bank accounts for easy transfers and have access to your money when you need it. Marcus by Goldman Sachs coupons are not required to get these rates.

CDs

Marcus by Goldman Sachs offers no-penalty and high-yield certificates of deposit. Five-year, high-yield CDs can earn an impressive APY, but the no-penalty CDs can be an even bigger saver. You can lose as much as one year’s worth of interest if you cash in a high-yield CD before it matures. However, the Marcus No-Penalty CD lets you withdraw the full balance of your CD and gives you the interest it already earned.

CD rates at Marcus by Goldman Sachs vary depending on the terms of the CD. Current CD rates range from to APY for a high-yield CD or to APY for no-penalty CDs. See the bank’s No-Penalty CD calculator to determine your potential earnings.

How To Open a Marcus by Goldman Sachs Account

You need to complete an online application to open an account with Marcus by Goldman Sachs. Here’s how:

Opening an Account

  1. Locate the application on the bank’s website.
  2. Choose the type of account you want to open.
  3. Complete the application, including the following details:
    • Name
    • Email address and password
  4. Provide personal information and verify your identity.
  5. Fund the account.

How Much Money Do You Need To Open a Bank Account at Marcus by Goldman Sachs?

Marcus by Goldman Sachs does not require a minimum deposit to open a savings account. If you do not deposit any money within 60 days, the bank may close the account.

To open a certificate of deposit, you do need to deposit at least $500. You can fund your accounts through a transfer from a linked bank account, direct deposit, mailed check or domestic wire transfer.

Is Marcus by Goldman Sachs the Right Bank for You?

Marcus by Goldman Sachs may be the right bank for you if you’re looking for a savings account or certificate of deposit that earns impressive rates. You don’t have to dedicate large sums of money or maintain minimum balances to avoid fees and earn the best rates. Take a look at this Marcus by Goldman Sachs review to learn more about what the bank offers customers.

However, the bank doesn’t offer many other products or services like checking accounts and credit cards. If you need a full-service bank, check out other financial institutions like the top banks in the country.

Julia Gordon and Amber Barkley contributed to the reporting for this article.

Rates are subject to change; unless otherwise noted, rates are updated periodically. Rates have been updated as of Oct. 27, 2022. All other information on accounts is accurate as of Sep. 8, 2022.

Editorial Note: This content is not provided by Marcus by Goldman Sachs. Any opinions, analyses, reviews or recommendations excessed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Marcus by Goldman Sachs.

This article has been updated with additional reporting since its original publication.

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About the Author

Cynthia Paez Bowman is a personal finance writer with degrees from American University in international business and journalism. Besides writing about personal finance, she writes about real estate, interior design and architecture. Her work has been featured in MSN, Brex, Freshome, MyMove, Emirates’ Open Skies magazine and more.
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