Marcus by Goldman Sachs Review: High-Yield Savings and Flexible CDs

4.8

GBR RATING

GOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

Marcus by Goldman Sachs delivers secure savings with a focus on transparency.

Marcus is Goldman Sachs’ answer to the digital banking age. It's an online-only saving and investing platform focused on high-yield savings, CDs and guided investing. GOBankingRates has ranked it as one of the Best Online Banks and Best CD Accounts for 2025. 

Marcus by Goldman Sachs is perfect for customers who want to avoid in-person banks and don’t expect a suite of banking products. Marcus focuses on delivering a streamlined, secure savings experience with a commitment to transparency and competitive rates. 

Marcus by Goldman Sachs Savings Accounts

Marcus offers a higher-than-average APY of on its savings accounts. There are also no fees or minimum deposit amounts to worry about maintaining. You also get 24/7 customer support in the company’s contact center and can complete same-day transfers of up to $100,000 to other banks.

• Enjoy fee-free account management with no hidden charges.
• Start saving without a required deposit or balance.
• There are limited product offerings – Marcus doesn’t offer checking or money market accounts. 
• No ability to deposit large cash deposits because Marcus is only online. 

4.7

GBR RatingGOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

Marcus by Goldman Sachs Savings Account

Start Banking

Best For

Online Banks

CD Accounts

Mobile App

Great APYs

Low Monthly Fees

Competitive APY — Significantly Higher Than National Average

Marcus by Goldman Sachs offers a high-yield Online Savings Account with no fees or minimum balance requirements. Enjoy 24/7 customer support and same-day transfers to other banks.

Fees

None

APY

Min Opening

$0

Pros

• Higher APY on savings account
• No maintenance fees
• No minimum deposits 
• 24/7 customer service support

Cons

• No ability to deposit cash
• No money market or checking accounts are available
• No physical branches

Quick Take

The Marcus high-yield Online Savings Account is perfect for individuals seeking high returns with no fees or balance requirements. The bank is ideal for customers with no in-person transaction needs.

Show Pros, Cons and More

Hide Pros, Cons and More

Marcus by Goldman Sachs CD Accounts

Marcus offers CDs with competitive APYs and flexible options like No-Penalty CDs for early withdrawal amounts. They also offer a High-Yield CD and a Rate Bump CD.  

• Marcus’ High-Yield CD is a traditional CD that pays a higher interest rate than Marcus’ high-yield savings account. 
• The No-Penalty CD from Marcus offers a lower interest rate than a High-Yield CD, but it allows you to withdraw the full balance beginning 7 days after funding, without incurring a penalty. Additionally, like all Marcus CDs, you can withdraw interest that’s already been paid at any time without penalty.
• With the Rate Bump CD, you have to lock up your funds for a predetermined amount of time.
• Marcus CDs offer competitive rates and predictable returns with a $500 minimum deposit.

GOLD WINNER

5.0

GBR RatingGOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

Marcus by Goldman Sachs CD Account

Start Banking

Best For

Online Banks

CD Accounts

Mobile App

Great APYs

Low Monthly Fees

Caters To Different Types of Savers

Marcus by Goldman Sachs offers a range of CD options, including High-Yield, No-Penalty and Rate Bump CDs. With competitive rates, flexibility and a low $500 minimum deposit, it’s a great choice for secure savings.

Fees

Early withdrawal penalty may apply

APY

Up to

Min Opening

$500

Pros

• Various rates and term lengths
• Lower minimum deposit required 
• FDIC-insured for applicable limit 

Cons

• No ability to integrate into a Marcus checking account
• Early penalty withdrawal for certain CDs

Why We Like Marcus by Goldman Sachs

Marcus by Goldman Sachs CDs offer high returns and flexibility, particularly with its no-penalty options, making it a strong choice for savers focused on secure growth.

Show Pros, Cons and More

Hide Pros, Cons and More

Marcus by Goldman Sachs Banking Experience 

Marcus offers a strong banking experience across several key areas that matter to the average consumer. Most notably, it offers 24/7 support through its contact center. This ensures you can get answers to your most pressing questions no matter when you need them.

The company’s mobile apps are also highly rated on the Apple App Store, with 4.9 stars out of 5, and on Google Play, with 4.2 stars out of 5. Reviews praise the apps’ helpful financial planning tools and integrated support options.

The primary downside, however, is the lack of a physical branch network. You won’t be able to go sit down with a banker face-to-face if you choose Marcus, which will be a problem for some users. 

Comparable Online Options 

Here’s how Marcus by Goldman Sachs compares to other top online banks.

Savings

CDs

SELECTED BANK

4.7

GBR RatingGOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

Marcus by Goldman Sachs Savings Account

Start Banking

MOST COMPARABLE

4.5

GBR RatingGOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

Ally Bank Savings Account 

Read Review

MOST COMPARABLE

4.7

GBR RatingGOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

Discover Bank Savings Account

Read Review

Fees

Fees

Fees

None

$0

No monthly service fee

APY

APY

APY

Min Opening

Min Opening

Min Opening

$0

$0

$0

SELECTED BANK

5.0

GBR RatingGOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

Marcus by Goldman Sachs CD Account

Start Banking

MOST COMPARABLE

4.9

GBR RatingGOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

Ally Bank CD Rates

Read Review

MOST COMPARABLE

4.7

GBR RatingGOBankingRates scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks. Read our full Editorial Guidelines here.

Discover® Bank, Member FDIC, CD Accounts

Read Review

Fees

Fees

Fees

Early withdrawal penalty may apply

No monthly service fee

No monthly service fee

APY

APY

APY

Up to

Up to

Up to

Min Opening

Min Opening

Min Opening

$500

$0

$0

Marcus by Goldman Sachs vs. Ally Bank

Ally Bank offers the same types of CDs that Marcus has, such as the High-Yield, Rate Bump and No-Penalty. It also has high-yield savings accounts, investing products and checking account options. So if you like Marcus’s CDs but want to keep all of your money in one place, Ally could be a strong alternative.

Marcus by Goldman Sachs vs. Discover Bank

Discover® Bank, Member FDIC, doesn’t offer as many CDs as Marcus or Ally. But it has high-yield savings, money market accounts, retirement-focused savings and checking options. This makes it a more well-rounded option than Marcus by Goldman Sachs.

Marcus by Goldman Sachs vs. Capital One

Choose Marcus by Goldman Sachs if you prioritize high-yield savings and CDs with a straightforward online platform. Opt for Capital One if you prefer a broader range of banking services, including checking accounts and access to physical branches.

Final Take 

There’s a lot to like about Marcus by Goldman Sachs — from the bank’s varied CD offerings to its goal-based investing and high-yield savings products. You also get great mobile apps and access to 24/7 customer service when you choose Marcus.

However, the company doesn’t offer everyday checking accounts, which means it probably can’t be the only financial institution you use. Its high-yield savings APY is also not as high as the competition’s, so you may need to look elsewhere if you want to maximize the APY you earn above all else.

Jamie Johnson, Cynthia Bowman, Kellan Jansen and Caitlyn Moorhead contributed to the reporting of this article.

Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Nov. 25, 2024.

Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.

To determine rankings for the Best CD Accounts of 2025, GOBankingRates considered the following factors (excluding neobanks): (1) total assets as sourced from the FDIC; (2) number of branch locations as sourced from the FDIC; (3) minimum deposit to open an account; (4) 12-month CD APY rate; (5) 60-month CD APY rate, and (6) the average mobile app rating between the Google Play (Android) and Apple stores. All factors were then scored and combined, with the lowest score being the best. Factors (1) and (2) were weighed 0.5 times, factor (3) was weighed 2 times, and factors (4) and (5) were weighed 4 times. All products and offerings had to be available as of Nov. 1, 2024, to be considered. Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Nov. 25, 2024.

To determine the Best Online Banks of 2025, GOBankingRates looked at the following factors across exclusively online banks: (1) total assets as sourced from the FDIC; (2) monthly checking fee ratio (percent the minimum to avoid fee compared to the monthly fee itself); (3) savings APY; (4) 1-year CD APY; (5) Bauer rating (out of 5 stars); (6) products/services offered (auto loans, mortgage loans, credit cards, investment services, and insurance); and (7) the average mobile app rating between the Google Play (Android) and Apple stores. Factors (1) and (2) were weighed 0.5 times, and factors (3) and (7) were weighed 2 times. For all savings and checking account data, only the basic accounts or products offered at each institution were analyzed. All products and offerings had to be available as of Nov. 1, 2024, to be considered. Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Nov. 25, 2024.

Share This Article: