Marcus by Goldman Sachs Savings Account Review: High APY With No Fees

Here's what the Marcus savings account offers.

Saving money for when you need it is always a good idea, but with the national rate at a mere 0.09% APY, it can be hard to find an account with noticeable returns. Marcus by Goldman Sachs, however, might offer just the rate you’re looking for.

Keep reading this Marcus savings account review to determine if you should open a savings account with Goldman Sachs.

Marcus by Goldman Sachs Savings Account at a Glance
Minimum Deposit$0 ($1 needed to earn interest)
Account Maximum$1 million for new accounts
Information accurate as of Oct. 10, 2018.

In this review:

What You Need to Know About the Marcus by Goldman Sachs Savings Account

Here are the most important features of the Marcus savings account, the online account available through Goldman Sachs online banking:

  • 1.90% APY
  • No service fees
  • No minimum deposit required to open an account
  • Six account withdrawals a month

The account allows customers to save without incurring any fees that would offset potential gains.

Best for: People looking for a safe way to grow their money

Best CD Account of 2018: Marcus by Goldman Sachs

Best Features of the Marcus by Goldman Sachs Savings Account

Marcus by Goldman Sachs boasts a competitive APY, outperforming some of the more well-known banks. Here’s how a Marcus savings account compares to other savings accounts, according to its website.

Marcus by Goldman Sachs1.90%
Bank of America0.06%
Wells Fargo Bank0.01%
Information accurate as of Oct. 10, 2018.

Marcus by Goldman Sachs Savings Account Is Designed for All Savers

Marcus by Goldman Sachs offers a robust APY with little setback. No account minimum means anyone can open an account, though you will have to invest a good portion in order to maximize the account’s use. The lack of account fees are also attractive, but remember that you will only be allowed to make six account withdrawals a month. Overall, Marcus by Goldman Sachs is a strong option for any person looking to grow their savings.

Click to learn why you need multiple savings accounts.

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This content is not provided by the companies mentioned. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone and have not been reviewed, approved, or otherwise endorsed by Marcus by Goldman Sachs.

GOBankingRates is a personal finance and consumer interest rate website owned by ConsumerTrack, Inc., an online marketing company serving top-tier banks, credit unions and other financial services organizations. Some companies mentioned in this article might be clients of ConsumerTrack, Inc., which serves more than 100 national, local and online financial institutions. Rankings and roundups are completely objective, and no institution, client or otherwise, paid for inclusion or specific placement. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by the companies included in the article. All fees and rates are subject to change at the issuers’ discretion. Some interest rates might be short-term or promotional offers only, and it is possible additional terms and conditions must be met in order to obtain the interest rates listed. Rates and availability might vary by region. Verify terms and conditions before opening an account. 

About the Author

Sean joined the GOBankingRates team in 2018, bringing with him several years of experience with both military and collegiate writing and editing experience. Sean’s first foray into writing happened when he enlisted in the Marines, with the occupational specialty of combat correspondent. He covered military affairs both in garrison and internationally when he deployed to Afghanistan. After finishing his enlistment, he completed his BA in English at UC Berkeley, eventually moving to Southern California.