Last Updated: 04/18/2025
Marcus by Goldman Sachs No-Penalty CD
Claimed
in CD Accounts from Goldman Sachs Bank USA
Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
3.90%(Verified 11/26/2024)
Minimum Opening Deposit
Starting at $500
Certificate Term
- 7 months
- 11 months
- 13 months
Marcus by Goldman Sachs No-Penalty CD Review
Marcus by Goldman Sachs No-Penalty CD are offered by Goldman Sachs Bank USA, a bank founded in 1869 and based in New York, NY. Marcus by Goldman Sachs No-Penalty CD are available in 50 states, 5 US territories, and Washington, DC.
Key Takeaways
- Only one CD type available. Marcus by Goldman Sachs No-Penalty CD only offers traditional CD accounts.
- Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 3.90%, 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.
- Limited selection of CD terms. Marcus by Goldman Sachs No-Penalty CD only offers three CD terms. This limits your options when trying to set up a CD ladder.
Pros & Cons of Marcus by Goldman Sachs No-Penalty CD
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Marcus by Goldman Sachs No-Penalty CD FAQ
Are CD 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). 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 No-Penalty 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 automatically renewing the CDs for another term.
What rates does Goldman Sachs Bank USA offer on its CDs?
The CD rates for this account have an APY of3.90% (APY stands for annual percentage yield, rates may change). This is higher than the typical APY for online-only checking accounts, which is around 1.6% APY for 12-month CDs.
What terms does Marcus by Goldman Sachs No-Penalty CD offer?
Goldman Sachs Bank USA offers CD terms of the following lengths:| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Certificate Term |
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 11-Month APY | 3.90% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| APY (Annual Percentage Yield) | 3.90% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 13-Month APY | 3.90% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 7-Month APY | 3.90% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What is the minimum deposit to open a CD account with Goldman Sachs Bank USA?
Marcus by Goldman Sachs No-Penalty CD require a minimum deposit of $500 to open an account.
What is the grace period for Marcus by Goldman Sachs No-Penalty CD?
Marcus by Goldman Sachs No-Penalty CD does not specify what their grace period is. 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 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 Goldman Sachs Bank USA 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 term ends.
Goldman Sachs Bank USA charges an early withdrawal fee.
Goldman Sachs Bank USA does charge any of the fees we track.
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