Marcus at a glance
| Feature | Details (early October 2026) |
|---|---|
| Online savings APY | 3.50% (Bankrate and NerdWallet); CNBC Select listed 3.40% on Oct. 2 |
| Savings minimum / monthly fee | $0 / $0 |
| CD APYs | 4.40% on 1-year and 18-month terms and on 2- to 6-year terms |
| CD minimum | $500 |
| No-penalty CDs | 7-month 3.75%, 11-month 4.00%, 13-month 3.80% |
| Checking, debit card, ATMs | None |
| Mobile check deposit | Not available; checks are mailed |
| Customer service | Phone and live chat 24/7 |
| Deposit insurance | Goldman Sachs Bank USA, Member FDIC |
Source: Bankrate Marcus review (rates as of early Oct. 2026); NerdWallet Goldman Sachs Bank review (rate table seen Oct. 11, 2026); CNBC Select (Oct. 2, 2026).
Online savings account
The Marcus High-Yield Online Savings account is the core product. There is no minimum to open, no minimum to earn the APY and no monthly fee. Bankrate notes that Marcus doesn't charge for wires and doesn't limit the number of transfers or withdrawals.
At 3.50%, the account pays almost ten times the FDIC's national average savings rate of 0.37% (September 2026). On $20,000 that is about $700 a year versus $74. But Marcus is not at the top of the market. In CNBC Select's early October tables, Live Oak Bank paid 4.00% and Vio Bank 4.09%. On $20,000, 4.09% earns about $818, around $118 more than Marcus at 3.50%.
Moving money works through linked external accounts. NerdWallet reports same-day transfers of up to $100,000 to a linked account; larger amounts generally need a phone call. You can also withdraw by wire or check. There is no Zelle and no way to withdraw cash at an ATM.
CDs
Marcus is stronger on CDs than on savings. It offers terms from six months to six years with a $500 minimum, and in early October 2026 it paid 4.40% on most terms from one year up.
| CD type and term | APY |
|---|---|
| 6 months | 3.95% |
| 9 months | 4.30% |
| 1 year | 4.40% |
| 18 months | 4.40% |
| 2 to 6 years | 4.40% |
| 20-month Rate Bump CD | 4.35% |
| No-penalty: 7 / 11 / 13 months | 3.75% / 4.00% / 3.80% |
Source: NerdWallet Goldman Sachs Bank review, rate table seen Oct. 11, 2026; $500 minimum on all terms. Bankrate also listed 4.40% for 1-, 3- and 5-year CDs in early October.
Useful features:
- 10-day rate guarantee: if Marcus raises the rate on your CD term within 10 days of opening, you get the higher rate.
- No-penalty CDs: withdraw early without a penalty. The 11-month version paid 4.00%, far above Ally's 2.8% and Synchrony's 0.25% for the same term in early October.
- Rate Bump CD: lets you raise your rate once during the term if Marcus raises rates on new Rate Bump CDs. That is worth a look after the Fed's September 2026 rate hike.
- 10-day grace period at maturity before the CD renews automatically.
Early withdrawal penalties
| Term | Penalty | Example on $10,000 at 4.40% |
|---|---|---|
| 6 months to 1 year | 90 days of interest | About $108 |
| Over 1 year to 5 years | 180 days of interest | About $217 |
| 6 years | 270 days of interest | About $326 |
Source: NerdWallet, CD early withdrawal penalties by bank (May 2026). Examples are our simple-interest estimates.
Marcus's 4.40% was not the highest available. E*TRADE paid 4.75% on a 1-year CD with no minimum on October 9–11, but its early withdrawal penalties are among the steepest, reaching up to 15 months of interest on some terms. Our guide to the best 1-year CD rates compares the options.
Savings, CD or no-penalty CD? A worked example
Say you have $10,000 you won't need for about a year. Using Marcus's early October 2026 rates, and assuming they don't change:
| Choice | Rate | Approximate interest | Access |
|---|---|---|---|
| Online savings, 12 months | 3.50% (variable) | $350 | Any time |
| 11-month no-penalty CD | 4.00% (fixed) | $367 over 11 months | Withdraw without penalty |
| 1-year CD | 4.40% (fixed) | $440 | 90 days' interest penalty if withdrawn early |
Source: our calculations using Marcus APYs reported by Bankrate and NerdWallet in October 2026, before taxes.
The no-penalty CD earns more than savings at today's rates and keeps most of the flexibility. The regular CD earns the most if you are sure you won't touch the money. Savings rates can change at any time, up or down, while CD rates are fixed for the term. Interest from all three is taxable.
What's changed at Goldman Sachs' consumer business
Goldman has been pulling back from consumer products for several years. The changes that matter to Marcus customers:
- Apple Card: Apple announced in early January 2026 that JPMorgan Chase will become the Apple Card issuer, replacing Goldman. The transition is expected to take about 24 months. Apple said the card's 3% cash back and its linked savings account remain, and cardholders can keep using the card as normal in the meantime. Goldman expected markdowns on the card loans to cut net revenues by $2.26 billion.
- GM credit card: Barclays replaced Goldman as the exclusive issuer of GM's U.S. credit cards, with the switch planned for summer 2025.
- Marcus Invest: Goldman sold its robo-investing accounts to Betterment. The deal was announced in April 2024 and accounts moved around June 29, 2024.
- GreenSky: Goldman completed the sale of the installment lender in March 2024.
When it sold Marcus Invest, Goldman reaffirmed its commitment to Marcus deposits and savings, which held more than $110 billion at the time. Your Marcus deposits are held by Goldman Sachs Bank USA and insured by the FDIC up to $250,000 per depositor, per ownership category, per bank. A company exiting other products doesn't change that coverage. If you hold more than $250,000, use different ownership categories or spread money across banks.
Opening and managing an account
Marcus is online only, with no branches, so everything happens through the website, the app or the phone. Fund the account by direct deposit, a transfer from a linked bank account, a mailed check or a domestic wire. Because there is no mobile check deposit, paper checks have to go by mail. When a CD matures, you have 10 days to withdraw or change terms before it renews automatically, so set a reminder.
Pros and cons
Pros
- No minimums or monthly fees on savings.
- CD rates of 4.40% across most terms, a $500 minimum and three no-penalty CD options.
- 10-day CD rate guarantee and a Rate Bump CD.
- 24/7 phone and chat support. Marcus ranked third among online-only banks offering savings products in J.D. Power's 2025 Direct Banking Satisfaction Study, per Bankrate.
- No limit on the number of savings withdrawals, and no fee for wires.
Cons
- Savings rate below the top online banks.
- No checking account, debit card or ATM access.
- No cash deposits or mobile check deposit.
- No branches.
- Goldman's retreat from other consumer products may concern some customers, though deposits remain FDIC-insured.
Who Marcus is a good fit for
Marcus suits savers who want a straightforward account, keep their checking elsewhere and move money by transfer. It is especially worth a look for CDs, including no-penalty CDs, where its rates were competitive in October 2026. It is a weaker fit if you want the highest possible savings rate, need to deposit cash or checks from your phone, or want checking and savings at one bank.
Alternatives to Marcus
| Bank | Savings APY (date) | Notable difference |
|---|---|---|
| Vio Bank | 4.09% (Oct. 2) | $100 minimum; $5 monthly fee without paperless statements |
| Live Oak Bank | 4.00% (Oct. 2) | $0 minimum |
| Ally Bank | 3.1% (Oct. 5) | Offers checking and fee-free Allpoint ATMs; 10 withdrawals per statement cycle |
| Capital One 360 | 3.10% (Oct. 6–7) | Checking, 70,000+ ATMs and some branches and cafés |
| American Express | 3.10% (Sept. 23) | $0 minimum |
Source: CNBC Select (Oct. 2, 2026); Ally.com (Oct. 5, 2026); Bankrate Capital One review (Oct. 2026).
See our full lists of the best high-yield savings accounts and best online banks.
Frequently asked questions
Is Marcus by Goldman Sachs FDIC-insured?
Yes. Marcus accounts are held by Goldman Sachs Bank USA, Member FDIC, and are insured up to $250,000 per depositor, per ownership category, per bank.
What is the Marcus savings rate right now?
Bankrate and NerdWallet listed 3.50% APY in early October 2026, while CNBC Select listed 3.40% on October 2. Rates change often, so check Marcus.com.
Is Goldman Sachs shutting down Marcus?
There's no announcement that Marcus savings or CDs are closing. Goldman has exited other consumer products, including Marcus Invest (sold to Betterment in 2024) and the Apple Card (moving to JPMorgan Chase over about 24 months), but it has said it remains committed to Marcus deposits.
Does Marcus have a checking account or ATM card?
No. Marcus offers savings and CDs only. You move money through a linked account at another bank, by wire or by check.
What is the Marcus CD early withdrawal penalty?
90 days of interest on terms of 6 months to 1 year, 180 days on terms over 1 year up to 5 years, and 270 days on the 6-year CD, according to NerdWallet. No-penalty CDs have no penalty.
What happens to the Apple Card and its savings account?
Apple said in January 2026 that JPMorgan Chase will become the card issuer within about 24 months, and that the card's cash back and linked savings account remain. Apple said more details will come as the transition date approaches.
Sources
- Bankrate – Marcus by Goldman Sachs bank review
- NerdWallet – Goldman Sachs Bank (Marcus) review
- NerdWallet – CD early withdrawal penalties by bank
- CNBC Select – Best high-yield savings accounts
- WTOP – Apple Card switches hands but no immediate changes for users
- Gigazine – Apple Card issuer transferred from Goldman Sachs to JPMorgan Chase
- Banking Dive – Barclays replaces Goldman Sachs as GM credit card issuer
- Banking Dive – Goldman Sachs sells Marcus Invest accounts to Betterment
- FDIC – Understanding deposit insurance
- FRED – National rate on savings deposits (FDIC)
- Ally Bank – Rates
- Bankrate – Capital One bank review
- Bankrate – Best CD rates
Rates, fees and terms change often. Figures were checked in October 2026; confirm current details with the provider before you apply.