Marcus by Goldman Sachs High-Yield Online Savings Account Review

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Marcus by Goldman Sachs Bank
GOBankingRates Best Banks 2023 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.
Quick Take: The Marcus by Goldman Sachs, Member FDIC, high-yield online savings account offers an impressive annual percentage yield (APY) with no fees, minimum deposit or minimum balance requirements. The account is easy to set up and features several perks, but there are some drawbacks. Although the APY is impressive, it's not necessarily the highest when compared to other high-yield savings accounts. Moreover, the account doesn't come with ATM access, which can make it difficult to get cash in an emergency.
  • APY
  • Fees
  • Perks
  • Ease of Use
How did we calculate this?


  • APY is significantly higher than the national average
  • No fees, minimum deposit or minimum balance requirements
  • Same-day transfers under $100,000 to or from other banks


  • No ATM network for fast access to money
  • Lower APY than some other high-yield savings accounts

Marcus by Goldman Sachs High-Yield Online Savings Account Overview

The Marcus high-yield savings account comes with a annual percentage yield. Although it’s not the highest on the market when compared to other high-yield accounts, it is over four times the national average.

The APY is highly competitive and the perks are worth diving into. The account features a mobile app that makes it easy to track and transfer your savings from anywhere. You can even enjoy same-day transfers to or from another bank as long as the total transfer is less than $100,000. The account is easy to open, and it’s just as easy to link other financial accounts for seamless transfers.   

Key Features

Some of most impressive features of the Marcus by Goldman Sachs high-yield online savings account are its APY, fees, ease of use and other perks. 


The account comes with a APY. That’s impressive when compared to the national average of 0.33%, but it’s not the highest in the high-yield savings industry.  


Goldman Sachs doesn’t charge a monthly maintenance fee, or any other fee for that matter — regardless of your balance.


There are several perks to this savings account. Some of the most impressive include:

  • Fast sign-up process
  • No fees
  • APY that’s significantly higher than the national average
  • Same-day transfers to or from savings, within the $100,000 limit
  • An intuitive mobile app
  • Ability to link external accounts for faster money transfers

Although these perks are impressive, the account doesn’t come with a network of ATMs. So, when you need money quickly, you’ll need to initiate a transfer to your checking account. This means you could be stuck waiting hours to access your money.

Ease of Use

The Marcus online savings account is very easy to use. The website is easy to navigate and the intuitive app makes managing your savings on the go a breeze. 

How the Marcus by Goldman Sachs High-Yield Savings Account Stands Out

The cumulative features of the Marcus by Goldman Sachs savings account are quite impressive. After all, not many savings accounts offer such a high interest rate with no fees or minimum balance requirements.

High interest and no fees combined with perks like same-day transfers and an intuitive mobile app makes this account hard to pass up, which is why it ranked as a finalist in GOBankingRates’ Best Online and Neobank Savings Accounts of 2023. 

Comparable High-Yield Online Savings Account Options

If the Marcus by Goldman Sachs account isn’t quite what you’re looking for, there are plenty of other options, including the following savings accounts from CIT Bank and Capital One.

CIT Bank Savings Connect

The CIT Bank Savings Connect account offers a APY. Although there’s no monthly service fee, you will need to deposit at least $100 to open the account, unlike with Marcus by Goldman Sachs. Nonetheless, the account is easy to open and makes saving simple.

Capital One 360 Performance Savings Account

The Capital One 360 Performance Savings account is a similar offering to the Marcus high-yield savings account. It offers the same APY at , has no minimum balance requirements and charges no fees. However, Capital One operates a network of ATMs, making it easy to access your money when you need it, while Goldman Sachs does not. 

How To Sign Up

Follow the steps below to sign up for an account:

  1. Click the “Open an Account” button on the bank’s homepage.
  2. Fill out all required information as it appears on your official personal documents.
  3. Connect your financial accounts.
  4. Fund your account.
  5. Enjoy your new savings account.

Who the Marcus by Goldman Sachs High-yield Savings Account Is Best For

The Marcus high-yield savings account is best for consumers who want to earn significant interest on their savings and pay no fees. However, due to its lack of an ATM network, it’s best for those who don’t need immediate access to their savings.

Final Take

The Marcus by Goldman Sachs online savings account is an impressive offering. Its lack of fees and minimum deposit requirements make it ideal for savers on a budget. Furthermore, its APY is one of the highest on the market. Consider opening an account to earn more on your money.

More on Marcus by Goldman Sachs:


Find the answers to the most common questions about the Marcus by Goldman Sachs high-yield savings account below.
  • Is Marcus by Goldman Sachs a good high-yield savings account?
    • Yes, this is a great account to consider. The APY is competitive, there are no fees to worry about and it's easy to open an account. It also ranked as a finalist in the annual GOBankingRates Best Banks rankings as one of the top online and neobank savings accounts.
  • What is the best high-yield savings account?
    • The best high-yield savings account depends on your unique needs. Try comparing several options and determine which meets your needs best before signing up for one. Factors to consider include the APY, minimum deposit, potential fees and ease of access to your money.
  • What is Marcus high-yield savings?
    • Marcus high-yield savings is an online savings account that's known for offering significant returns with absolutely no fees.

The Marcus by Goldman Sachs High-Yield Savings Account APY is accurate as of June 12, 2023. Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Jan. 27, 2023.

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.

Our in-house research team and on-site financial experts work together to create content that’s accurate, impartial, and up to date. We fact-check every single statistic, quote and fact using trusted primary resources to make sure the information we provide is correct. You can learn more about GOBankingRates’ processes and standards in our editorial policy.

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