Marcus CD Rates: How They Compare

Marcus by Goldman Sachs High-Yield CD
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The online bank Marcus by Goldman Sachs offers some of the highest rates for certificates of deposit among online banks and a low minimum opening requirement of $500. It also has competitive yields for no-penalty CDs.

Marcus CD rates

Marcus offers two types of CDs:

  • High-yield CDs: These CDs have fixed rates and are subject to early withdrawal penalties. Rates are solid, including its one-year CD with 0.55% APY (annual percentage yield) as of 11/19/2021.

  • No-penalty CDs: These CDs also have fixed rates as well as the added benefit of no early withdrawal penalty, meaning you can withdraw the full amount any time after the first seven days without cost.

Marcus no-penalty CD rates

Marcus by Goldman Sachs’ no-penalty CDs balance flexibility and solid returns. They’re currently featured on our list of the best no-penalty CD rates. Here’s a look at the rates:

More details about Marcus CDs

None, which is common for CDs.

  • 90 days’ (3 months) worth of interest for CDs of terms less than 1 year.

  • 180 days’ (6 months) worth of interest for CDs of terms from 1 to 5 years.

  • 270 days’ (9 months) worth of interest for CDs of terms longer than 5 years.

10-Day Best Rate Guarantee. If you fund your CD within the first 10 days (opening day plus 10 days), you receive the best rate offered during that time. For example, if Marcus raises its five-year CD rate three days after you fund a five-year CD, you’ll get the higher rate. This feature also applies to the first 10 days after a CD renews.

Daily. (This detail helps you estimate what you can earn using a CD calculator.)

10 days after the CD’s maturity date.
Marcus CDs automatically renew, so this 10-day window is the only time to withdraw without getting hit by a penalty (except for no-penalty CDs).

What to consider when opening CDs

  • Interest rates are fixed. If you open a Marcus CD today, its annual percentage yield will stay the same until the CD expires. This benefits you if you lock in a CD before rates start dropping, but on the flip side, you’ll earn less on a CD if rates keep rising. It’s hard to know when CD rates will go up. See our article on historical CD rates.

  • You lose interest if you withdraw early. CDs are built to keep your money out of sight, out of mind. If you dip into a standard Marcus CD before it expires, there’s an early withdrawal penalty, which means losing some or all of the interest you earned. There is an exception: a Marcus no-penalty CD (compare with other no-penalty CDs).

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Marcus CD rates are high and no-penalty options are available

Marcus by Goldman Sachs High-Yield CD
NerdWallet rating 

Read review

Marcus by Goldman Sachs CDs are top of the line thanks to competitive rates, low minimums and multiple CD types and terms. You can choose between standard and no-penalty CDs. If you want to compare more options, check out our list of best CD rates this month.

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