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Marcus by Goldman Sachs High-Yield CD
in CD Accounts from Goldman Sachs Bank USA · Member FDIC
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Marcus by Goldman Sachs High-Yield CD

Claimed
in CD Accounts from Goldman Sachs Bank USA · Member FDIC
SuperMoney Net Recommendation Score +89  

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +89, equating to 4.8 on a 5 point rating scale.

+89

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.

Strongly recommended

17 users recommend
0 users are unsure
1 user doesn't recommend
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Highlights
Community Rating Strongly recommended
APY (Annual Percentage Yield) 3.25% - 4.25%
(Verified 11/08/2022)
Minimum Opening Deposit Starting at $500
Certificate Term
  • 6 months
  • 9 months
  • 12 months
  • 18 months
  • 2 years
  • 3 years
  • 4 years
  • 5 years
  • 6 years
Number of Reviews 18

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

  • Small selection of CD account types. Marcus by Goldman Sachs CD only offers liquid and traditional CDs.
  • Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 4.25%, which is much higher than the national average for a CD account.
  • $500 minimum deposit. This is a typical minimum initial deposit for the CDs we track.
  • Wide selection of CD terms. Marcus by Goldman Sachs CD allows you to create a CD ladder by spreading your cash across certificates 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
  • 10-Day CD Rate Guarantee
  • FDIC insured.
  • Multiple CD terms available.
  • Available in all 50 states.
  • High-interest yield.
  • Does not offer an IRA CD.

Marcus by Goldman Sachs High-Yield CD FAQ

Are CDs from Goldman Sachs Bank USA federally insured?

Yes, your Goldman Sachs Bank USA CDs 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 if 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 3.25% and ranging up to 4.25%. APY stands for annual percentage yield and shows the interest rate paid by the CD after taking into account compounding. This is higher than the typical interest rate for online-only checking accounts, which is around 1% APY.

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
APY (Annual Percentage Yield) 3.25% - 4.25%
6-Month APY 3.25%
9-Month APY 3.30%
12-Month APY 4.00%
18-Month APY 4.15%
2-Year APY 4.25%
3-Year APY 4.00%
4-Year APY 4.00%
5-Year APY 3.80%
6-Year APY 3.70%

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.

Marcus by Goldman Sachs High-Yield CD Fees
Description
Annual Fee $0
No 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.

Message From Marcus by Goldman Sachs CD

Marcus by Goldman Sachs offers no-fee, fixed-rate personal loans, high-yield savings accounts and managed portfolios of ETFs to help people achieve financial well-being. Marcus by Goldman Sachs offers one of the highest APYs for a 12-month CD. While you may find slightly higher yields from other banks, Marcus by Goldman Sachs’ rates are very competitive.

Availability

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

Feature Breakdown

Annual Fee $0
No Early Withdrawal Fee
Minimum Opening Deposit Starting at $500
APY (Annual Percentage Yield) 3.25% - 4.25%
(Verified 11/08/2022)
6-Month APY 3.25%
9-Month APY 3.30%
12-Month APY 4.00%
18-Month APY 4.15%
2-Year APY 4.25%
3-Year APY 4.00%
4-Year APY 4.00%
5-Year APY 3.80%
6-Year APY 3.70%
Certificate Term
  • 6 months
  • 9 months
  • 12 months
  • 18 months
  • 2 years
  • 3 years
  • 4 years
  • 5 years
  • 6 years
CD Accounts
  • Traditional
  • Liquid
Grace Period for Account Changes 10 days

Marcus by Goldman Sachs High-Yield CD Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +89, equating to 4.8 on a 5 point rating scale.

+89

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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