Marcus: By Goldman Sachs



Marcus: By Goldman Sachs

2019 Overview

General Online Bank Information

Deposits FDIC Insured Yes
Insured Bank Goldman Sachs Bank USA
FDIC Certificate # 33124
Date Established 1990
Assets $200.1 billion
Loans $77.02 billion
Deposits $139.98 billion
Capital $28.59 billion
Money that you deposit is held by Goldman Sachs Bank USA. Goldman Sachs Bank USA is an FDIC insured institution founded in 1990. It has approximately $200.10 billion in assets.

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 20, 2019

Online Savings and Money Market Rates
Online Savings and Money Market Rates APY MIN MAX
Online CD Rates
Online CD Rates APY MIN MAX
7 Month No Penalty CD
2.10% $500 - Learn MoreShow Less
9 Month CD
0.70% $500 - Learn MoreShow Less
11 Month No Penalty CD
1.90% $500 - Learn MoreShow Less
12 Month CD
2.25% $500 - Learn MoreShow Less
13-Month No Penalty CD
1.85% $0 - Learn MoreShow Less
18-Month CD
2.25% $500 - Learn MoreShow Less
24 Month CD
2.30% $500 - Learn MoreShow Less
36 Month CD
2.35% $500 - Learn MoreShow Less
48 Month CD
2.40% $500 - Learn MoreShow Less
60 Month CD
2.45% $500 - Learn MoreShow Less

Bank 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. 




Customer Reviews for Marcus: By Goldman Sachs (35)


  • August 10, 2019 |

    Online Savings Rates

    I have been very pleased here for years with all of the name changes, etc (GE Capital to Goldman Sachs to this). I did not appreciate the recent and quiet rate drop am glad that I learned about this no penalty CD. I was able to lock in a rate for 13-months with no penalty and only a $500 minimum.

  • September 15, 2018 | | Replies 1

    Online Savings Rates

    I made a mistake with the timing of some transactions and tried to move $300k into my Goldman Sachs account from a corresponding account before the money had arrived in the corresponding account. A few hours after I entered the transaction as an immediate transfer, I realized it would be rejected and tried to call Goldman to cancel the transaction because I thought they would charge me some enormous fee. I reached the rep in a second and he said that there is never a fee for anything like this, or a fee at all! Right there they won my business. Barclays or or Ally or Synchrony would have raped me for this.

    Mustbenice | Oct 20, 2019

    Well one would wait for it to clear before trying to move it somewhere else. Besides the moving of the money from bank to Bank loses interest. Those banks have similar interest rates so your not really earning that much more .

  • July 13, 2018 |

    Online Savings Rates

    Opened here because the rate is always higher than the other established places. Every thing is easy, but I wish they would be faster to raise their rates.

  • July 09, 2018 |

    Online Savings Rates

    I have been using Marcus for over 6 months. Their CSRs are helpful and opening up an account was easy. Linking to external accounts (4) only produced one hitch but Marcus sleared that up. The transfers go through pretty quickly and they are aggressive at hiking their deposit rates before other online banks.

  • June 24, 2018 |

    Online Savings Rates

    I had an issue with a large transfer from HSBC that was delayed (by HSBC of course). Meanwhile I had made some transfers out of my Marcus account and realized I would be dramatically overdrawn. I called Marcus and the first thing that their fellow explained is that I would never ever be charged a fee. I found that very refreshing.

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