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  Marcus by Goldman Sachs High-Yield CD

Marcus by Goldman Sachs High-Yield CD

in CD Accounts from Goldman Sachs Bank USA · Member fdic

Claimed

Marcus by Goldman Sachs High-Yield CD

Claimed

in CD Accounts from Goldman Sachs Bank USA · Member FDIC

Net Recommendation Score 0

SUPERMONEY NET RECOMMENDATION SCORE

This product is mostly not recommended by SuperMoney users with a score of 0, equating to 3 on a 5 point rating scale.

0

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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Highlights
Community Rating

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Minimum Opening Deposit Starting at $500
Deposit Term
  • 6 months
  • 9 months
  • 12 months
  • 18 months
  • 2 years
  • 3 years
  • 4 years
  • 5 years
  • 6 years
APY (Annual Percentage Yield) 0.15% - 0.60%

Marcus by Goldman Sachs High-Yield CD Review

Marcus by Goldman Sachs High-Yield CD is offered by Goldman Sachs Bank USA, a bank founded in 1869 and based in New York, NY. Marcus by Goldman Sachs High-Yield CD is available in 50 states (and Washington, DC).

Key Takeaways
  • Only one CD account type available. Marcus by Goldman Sachs CD only offers traditional CD accounts.
  • Very high APY. This account offers an annual percentage yield of up to .60%, which is much higher than the national average for a CD account.
  • $500 minimum deposit. This is a typical minimum initial deposit, but there are accounts that require a smaller initial deposit.
  • Wide selection of CD terms. Marcus by Goldman Sachs CD allows you to create a CD ladder by spreading your cash across certificates of deposit with different terms. This combines the benefits of frequent access to funds and higher rates of return on your savings.
Pros & Cons of Marcus by Goldman Sachs High-Yield CD
Pros Cons
  • FDIC insured.
  • Multiple CD terms available.
  • Available in all 50 states.
  • High-interest yield.
  • No charge on incoming domestic or international wire transfers.
  • There isn't a no-penalty CD option.
  • Does not offer an IRA CD.
Marcus by Goldman Sachs High-Yield CD FAQ

Are cd accounts from Goldman Sachs Bank USA federally insured?

Yes, your Goldman Sachs Bank USA cd accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #33124). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

What types of CDs does Goldman Sachs Bank USA offer?

Marcus by Goldman Sachs CD provides the following types of CDs.
  • Traditional CDs. These CDs pay a fixed interest rate i you deposit a fixed amount of money for a specific term. Once the maturity date arrives, you have the option of cashing out or rolling over the CD for another term.

What CD rates does Goldman Sachs Bank USA offer on its CDs?

Marcus by Goldman Sachs CD offers an APY starting at .15% and ranging up to .60%. APY stands for annual percentage yield and shows the interest rate paid by the CD after taking into account compounding.

What terms does Marcus by Goldman Sachs CD offer?

Goldman Sachs Bank USA offers CD terms of the following lengths:
Marcus by Goldman Sachs High-Yield CD Rates & Terms
Description
2-Year APY 0.55%
3-Year APY 0.55%
4-Year APY 0.55%
5-Year APY 0.60%
6-Month APY 0.15%
12-Month APY 0.55%
APY (Annual Percentage Yield) 0.15% - 0.60%

What is the minimum deposit to open a CD account with Goldman Sachs Bank USA?

Marcus by Goldman Sachs CD requires a minimum deposit of $500 to open an account.

What is the grace period for Marcus by Goldman Sachs CD?

There is a 10-day grace period for Marcus by Goldman Sachs CD. A grace period is a period of time during which you can withdraw the money in your CD without paying an early withdrawal penalty. A grace period starts the day after a CD’s maturity date, or the final day a CD is opened. Standard CDs renew automatically at the same term if you don't withdraw your money after the 10-day grace period. Note that the new CD rates probably won’t be the same as the original.

What types of fees, such as early withdrawal penalties, does Marcus by Goldman Sachs CD charge?

Financial institutions don't typically charge many fees on CDs. However, most charge a fee if you choose to withdraw your money before the CD term ends.

Goldman Sachs Bank USA does not charge an early withdrawal fee.

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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Minimum Opening Deposit Starting at $500
2-Year APY 0.55%
3-Year APY 0.55%
4-Year APY 0.55%
5-Year APY 0.60%
6-Month APY 0.15%
12-Month APY 0.55%
APY (Annual Percentage Yield) 0.15% - 0.60%
CD Accounts Traditional
Grace Period for Account Changes 10 days
Deposit Term
  • 6 months
  • 9 months
  • 12 months
  • 18 months
  • 2 years
  • 3 years
  • 4 years
  • 5 years
  • 6 years

Marcus by Goldman Sachs High-Yield CD Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is mostly not recommended by SuperMoney users with a score of 0, equating to 3 on a 5 point rating scale.

0

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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