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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.

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