Image by Adobe Stock; Illustration by Tiffany Herring
Marcus by Goldman Sachs is an online bank that offers a high-yield savings account. Though the very best savings yields now surpass 5 percent annual percentage yield (APY), Marcus does offer competitive interest rates and other conveniences, including no fees and no minimum deposit to open an account.
Marcus by Goldman Sachs received high marks on its high-yield savings account in our in-depth review.
Marcus savings account interest rates
Here’s a breakdown of the Marcus online savings account.
| Account name | APY | Minimum deposit |
|---|---|---|
| High-yield savings account | 4.40% APY |
No minimum deposit |
Note: The annual percentage yield (APY) shown was last updated between May 22 and May 28, and may vary by region.
How Marcus savings rates compare with top-yielding online banks
The high-yield online savings account offered by Marcus is competitive, though some other online banks offer higher savings rates. The Marcus app earns high marks in Apple’s App Store and on Google Play. It allows users to check balances, schedule transfers, make loan payments, and more. If you are weighing savings account options, it’s important to compare the best savings rates that the market has to offer.
Other savings options at Marcus
In addition to its high-yield savings account, Marcus also offers standard certificates of deposit with competitive yields that can help you save for your future, with nine terms ranging from six months to six years. CD interest is compounded daily rather than monthly or quarterly.
Savers can also choose from three terms of no-penalty CDs that don’t charge early withdrawal fees, provided the account has been funded for at least seven days.
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