Goldman Sachs Bank USA
Headquarters
200 West St
New York, NY 10282
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ACH 124085260
Phone 212 902 1000
2024 Overview
General Bank Information
Goldman Sachs Bank USA is an FDIC insured institution located in New York, NY. It was founded in 1990 and has approximately $543.89 billion in assets. Customers can open an account at one of its 5 branches.
| FDIC Insured | Yes |
| FDIC Certificate | # 33124 |
| Date Established | 1990 |
| Assets | $ 543.89 billion |
| Loans | $ 170.66 billion |
| Deposits | $ 373.27 billion |
| Capital | $ 59.52 billion |
For a more detailed analysis of Goldman Sachs Bank USA's financial condition and a description of what these numbers mean, please visit the Financial Details section.
Deposit Rates - October 10, 2024
Your Current Location: Virginia, VA 20146
Online Only Savings Rates of Goldman Sachs Bank
| Online Savings Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| Online Savings Account
|
4.25% | $1 | $1,000,000 |
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|
Online Only CD Rates of Goldman Sachs Bank
| Online CD Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| 6 Month CD
|
4.30% | $500 | $1,000,000 |
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|
| 7 Month No Penalty CD
|
4.20% | $500 | $1,000,000 |
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|
| 9 Month CD
|
4.30% | $500 | $1,000,000 |
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|
| 12 Month CD
|
4.30% | $500 | $1,000,000 |
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|
| 18-Month CD
|
4.10% | $500 | $1,000,000 |
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|
| 20 Month Rate Bump CD
|
4.20% | $500 | $1,000,000 |
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|
| 24 Month CD
|
3.90% | $500 | $1,000,000 |
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|
| 36 Month CD
|
3.90% | $500 | $1,000,000 |
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|
| 48 Month CD
|
3.85% | $500 | $1,000,000 |
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|
| 60 Month CD
|
3.80% | $500 | $1,000,000 |
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|
Bank Online Offers
Marcus Raises All CD Rates
Sep 4, 2018
Marcus, the online bank owned by Goldman Sachs, has raised all of its online CD rates this morning. While all rates have been raised, their one-year rate is now at 2.55% which is one of the highest online one-year CDs available.
Editor’s Note: Marcus is an advertiser on BestCashCow. Please read our Advertiser Disclosure here.
Marcus Raises Online Savings Rate to 2.05%
Oct 26, 2018
Marcus has raised its online savings rate to 2.05%. The rate is available online and has a $1 minimum.
Marcus Raises No Penalty CD Rate to 2.25% APY
Dec 11, 2018
Marcus has raised its 13-Month No Penalty CD rate to 2.25% APY. Since the rate is 20 basis points above Marcus's online savings rate and the account may be closed at any point after one week without penalty, this product offers an easy way to boost your savings rate.
Marcus Raises No Penalty CD Rate to 2.35% APY and Online Savings Rate to 2.25%
Jan 4, 2019
Today, Marcus raised its 13-month No Penalty CD rate by 10 bps to 2.35% and its online savings rate by 20 bps to 2.25%.
Marcus Lowers Some CD rates
Jun 7, 2019
Marcus has lowered its 1-year CD rate from 2.70% to 2.60%. See the best online one-year CD rates here and see online-year CD rates near you here.
Marcus has lowered its 5-year CD rate from 3.00 to 2.90%. See the best online five-year CD rates here and the see rates at banks near you here.
Marcus Lowers Its Online Savings Rate to 2.15%
Jun 27, 2019
The Goldman Sachs subsidiary became the first major online bank to lower its online savings rate. The move is in anticipation of a Fed Funds rate cut at the end of July.
Marcus Takes Hammer to 13-Month No Penalty CD, Adds Other Terms
Aug 11, 2019
The rate on Marcus's 13 Month No Penalty CD product, which BestCashCow had strongly recommended since its launch late in 2018 at 2.35%, has fallen to 2.15% APY. Marcus has also added a 7-month No Penalty product at 2.25% and a 11-month No Penalty product at 2.20%. We don't find these products as compelling. See all online special term CDs here.
Marcus Cuts Online Savings Rate to 2.00%
Aug 27, 2019
Marcus has cut its online savings rate from 2.15% to 2.00%. As BestCashCow has advised for some time, depositors here would be well advised to consider moving their deposits to the bank's No Penalty CD products.
Marcus Cuts All CD Rates by at Least 15 Basis Points, Eliminates Some Products
Sep 13, 2019
Marcus, Goldman Sachs' online bank, has lowered the rate on all of its CD offerings by at least 15 basis points. Their one-year CD product is now at 2.25%, down from 2.40%. They have also eliminated all of their No Penalty CDs, except the 7-month one which is now offered at 2.10%. BestCashCow previously wrote very favorably about the No Penalty CDs, and we still see the 7-Month No Penalty CD as being an attractive alternative to their 2.00% savings online rate.
Marcus Lowers Savings Rate to 1.70%, Drops All CD Rates
Nov 19, 2019
Marcus has lowered its online savings rate to 1.70% today. The online division of Goldman Sachs also dropped all of its CD rates by 10 basis points (and all of its no penalty CD rates by 20 basis points).
Marcus Lowers One-Year CD rate
Feb 26, 2020
Marcus has lowered its 12-month CD rate from 2.15% APY to 2.05% APY.
Goldman Sachs Bank, aka Marcus, Ends Attractive CD Rates
Mar 12, 2020
Marcus has lowered all of its attractive CD rates. Your rate on new CDs from one to four years is now 1.85% APY which is hardly attractive. The 7 month no penalty CD product remains. The rate there is 1.70%. That is more attractive.
Marcus Lowers Its Online Savings Rate to 1.30% from 1.55%
May 8, 2020
Marcus, a division of Goldman Sachs, has lowered its online savings rate to 1.30%.
Marcus Guts Everything
Jun 16, 2020
Marcus has lowered its online savings rate from 1.30% APY to 1.05% APY overnight.
The 7-Month No Penalty CD that BestCashCow had recommended was lowered again to 1.00% APY.
All CDs greater than one year are now 1.10% APY, except the 5-year rate which now stands at 1.15% APY.
Goldman's subsidiary has gone from very competitive to not competitive at all in a very short period.
Marcus Slashes Online Savings Rate to 0.80% APY
Aug 4, 2020
Marcus by Goldman Sachs's new OSA rate is 0.80% APY.
Marcus's Online Savings Rate Is No Longer Competitive
Sep 9, 2020
Marcus has lowered its online savings rate from 0.80% to 0.60% today.
Online Savings Rate at Marcus Lowered to 0.50% APY
Nov 17, 2020
Marcus has lowered its online savings rate.
Marcus Raises Online Savings Rate to 0.60% APY, and Also Raises Its CD Rates
Apr 22, 2022
Marcus became more competitive overnight, raising their savings rate by 10 bps. It also raised its no penalty CD to 0.75 APY. The CDs are especially attractive versus its major competitors with its 5-year online CD at 2.15% APY and its 2 and 3 year CDs at 1.60 APY. We however urge caution around the CDs, except the No Penalty ones that can be broken without penalty after 2 weeks. Online rates are heading much higher soon and you can already purchase US Treasury of the same duration with higher yields.
Marcus Raises Online Savings Rate to 0.85% APY and Its No Penalty CD rate to 0.90% APY
Jun 1, 2022
Marcus has raised its savings and no penalty CD rates.
Marcus by Goldman Sachs Lowers 1-Year CD Rate
Jan 18, 2024
Marcus has lowered its 1-year CD rate from 5.50% APY to 5.35% APY.
Marcus by Goldman Sachs Lowers Savings and Most CD Rates By A Bit
Apr 3, 2024
Marcus by Goldman Sachs is hoping you won't mind getting a lower savings rate, even while interest rates are rising. They lowered their online savings rate by 10 basis points today to 4.40%. Their 6-month, 9-month, 12-month and 18-month offers offerings are also 10 basis points lower, while their 24-month has fallen by 20 basis points.
Marcus by Goldman Sachs Lowers 1-Year CD Rate Again
Aug 22, 2024
Marcus has lowered its 1-year CD rate to 4.80% from 5.00%. Two weeks ago their rate was 5.15%.
Loan Rates - October 10, 2024
Your Current Location: Virginia, VA 20146
There are currently no loan rates available for Goldman Sachs Bank USA
Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:
Featured - Virginia 30 Year Fixed Mortgage Rates 2024
| Lender | APR | Rate (%) | Monthly Payment |
Learn More |
|---|---|---|---|---|
NMLS ID: 1025894 |
6.588% |
6.490% 0.75 points $3,276 fees |
$2,021 | Learn More |
NMLS ID: 3030 |
6.847% |
6.750% 1.00 points $3,200 fees |
$2,076 | Learn More |
NMLS ID: Not a Lender |
points fees |
Learn More | ||
NMLS ID: 3029 |
points fees |
Learn More |
Featured - Virginia Home Equity Line Of Credit Rates 2024
| Lender | APR (%)? | Monthly Payment? | Learn More |
|---|---|---|---|
Third Federal Savings and Loan See Table |
Intro APR
7.490 %
After Intro: 7.490 % |
$0 |
Learn More
More Info |
Note to Goldman Sachs Bank USA
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Branches
Goldman Sachs Bank USA branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.
Your Location:
Ashburn,Virginia
Goldman Sachs Bank USA Locations around zip code 20146
| Branch | Distance | Map | View Lobby Hours |
|---|---|---|---|
| 216.67 | A | View Lobby Hours | |
| 217.81 | B | View Lobby Hours | |
| 411.01 | C | View Lobby Hours | |
| 1110.78 | D | View Lobby Hours | |
| 1823.69 | E | View Lobby Hours |
Climate Policy and Initiatives
Climate Mitigation: We will expand our clean energy target to $150 billion in financings and investments by 2025 to facilitate the transition to a low-carbon economy. To increase access to climate solutions, we will launch a Clean Energy Access Initiative that will target the deployment of clean energy solutions, such as distributed solar and clean cookstoves, to underserved markets.
Updated March 31, 2024
Goldman Sachs continues to be a major financier to the oil and gas industry but has taken a leading role in financing major renewable energy projects.
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Financial Details
Goldman Sachs Bank USA Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of Goldman Sachs Bank USA. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.
Texas Ratio
| Goldman Sachs Bank USA | U.S. Bank Average |
|---|---|
| 5.36% | 4.48% |
The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.
As of June 30, 2024, Goldman Sachs Bank USA had $3,401,000,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $59,515,000,000 in equity and $3,907,000,000 in loans loss reserves. That gives it a Texas Ratio of 5.36%.
Return on Equity
| Goldman Sachs Bank USA | U.S. Bank Average |
|---|---|
| 15.38% | 10.46% |
Goldman Sachs Bank USA has a Return on Equity of 15.38% versus the BestCashCow average of 10.46%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.
Capitalization
| Goldman Sachs Bank USA | U.S. Bank Average |
|---|---|
| 10.94% | 10.84% |
Goldman Sachs Bank USA has a Capitalization of 10.94% versus the BestCashCow average of 10.84. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.
Goldman Sachs Bank USA Balance Sheet Analysis
As of June 30, 2024, Goldman Sachs Bank USA had assets of $543,888,000,000, loans of $170,664,000,000, and deposits of $373,271,000,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.
Summary Balance Sheet
June 30, 2024| ASSETS | |
|---|---|
| Cash & Balances due from depository institutions | $ 125.54 billion |
| Interest-bearing balances | $ 122.48 billion |
| Total securities | $ 57.58 billion |
| Federal funds sold and reverse repurchase | $ 47.50 billion |
| Net loans and leases | $ 170.66 billion |
| Loan loss allowance | $ 3.91 billion |
| Trading account assets | $ 87.39 billion |
| Bank premises and fixed assets | N.A. |
| Other real estate owned | N.A. |
| Goodwill and other intangibles | $ 1,233.00 million |
| All other assets | $ 48.18 billion |
| Total Assets | $ 484.37 billion |
| LIABILITIES | |
|---|---|
| Total deposits | $ 373.27 billion |
| Interest-bearing deposits | $ 373.25 billion |
| Deposits held in domestic offices | $ 356.89 billion |
| % insured (estimated) | 55.79% |
| Federal funds purchased and repurchase agreements | $ 24.47 billion |
| Trading liabilities | $ 24.59 billion |
| Other borrowed funds | $ 6.14 billion |
| Subordinated debt | $ 21.00 million |
| All other liabilities | $ 41.21 billion |
| Total Liabilities | $ 484.37 billion |
| Shareholders’ Equity | $ 59.52 billion |
Summary Income Statement
June 30, 2024| INCOME AND EXPENSES | |
|---|---|
| Total Interest Income | $ 16.18 billion |
| Total Interest Expense | $ 12.30 billion |
| Net interest income | $ 3.89 billion |
| Provision for loan and lease losses | $ 669.00 million |
| Total non interest income | $ 5.82 billion |
| Total non interest expense | $ 3.10 billion |
| Pre-tax Net Operating Income | $ 2.18 billion |
Bank Loan Profile?
The top three loan types in Goldman Sachs Bank USA’s loan portfolio are Commercial and Industrial Loans, 1-4 Family Residential Loans, and Credit Card Loans.
Compared to other banks in New York, Goldman Sachs Bank USA has a significantly higher percent of Credit Card Loans on its balance sheet, potentially indicating a specialty in that lending area.
Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.
| % Loans |
% Comparison to Other Banks |
|||
|---|---|---|---|---|
| Low | Med | High | ||
| 1-4 Family Residential Loans | 9.19 | ✓ | ||
| Multifamily Mortgages |
0.50 | ✓ | ||
| Credit Card Loans | 6.87 | ✓ | ||
| Consumer Auto Loans | 0.02 | ✓ | ||
| Small Business Loans | 0.00 | ✓ | ||
| Construction and Development Loans | 2.55 | ✓ | ||
| Commercial Real Estate | 5.40 | ✓ | ||
| Commercial and Industrial Loans | 17.83 | ✓ | ||
| Farm Loans | 0.01 | ✓ | ||
Customer Reviews for Goldman Sachs Bank USA
GAM
April 22, 2021
0.65% APY 9m-CD looks good even if interest rates have bottomed.
Is this review helpful? Yes:15 / No: 20
Walt
April 18, 2020 |
called customer service April 18, 2020, had to wait 40 minutes on hold, talked to a well informed polite person for as long as I wanted. He said CDs are not callable, previously I was told they are. so you figure it out. in this constantly lowering of rates time it may become important. Why should Golman pay consumers just under 2% when the Fed gives them all they want for .025% or less ??
Is this review helpful? Yes:12 / No: 21
GAM
January 12, 2020 |
Had 3 CDs and High Yield Savings. Then bought their 1 yr maturity CD at APY 2.05. 12 days afterwards noted rate increase to 2.15 APY. Cursed by bad timing then got message my rate was increased to 2.15. I am really impressed with their customer service. Excellent web site, competitive rates in high yield savings (1.7 APY) and the best options in choices of CDs. Added bonus is as soon as CD is funded with ACH transfer you get zero lag for interest credit before actual funds in their account. Web site is easy to use and provides options for beneficiaries. Best overall on line in my option. Other accounts at PNC (high yield savings) and Barclays (high yield savings and CDs)
Is this review helpful? Yes:15 / No: 17
Bob peron
October 16, 2017 |
I have saving, and CD with GS, Discover bank and my local bank. Discover offered a 12 month CD for 1.35%. Went to GS to check them, they were offering 12 mo for 1.5%. Took out 3 CD for grandchildren and 3 days later, they changed rates to 1.65%. They gave it to me automatically. All on line. Their online savings is 1.20 %.
Is this review helpful? Yes:20 / No: 13
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