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In A Nutshell
Marcus by Goldman Sachs offers a streamlined lineup of certificate of deposit (CD) products designed for savers seeking fixed returns and predictable growth. Customers can choose from High-Yield CDs, No-Penalty CDs, and a Rate Bump CD, all with a $500 minimum deposit requirement. Marcus combines competitive rates, online account management, and 24/7 customer support with the backing of Goldman Sachs Bank USA, Member FDIC.
Marcus CD Pros & Cons
Pros
Three CD options for different savings goals
Low $500 minimum opening deposit
24/7 phone and chat support
Cons
Early withdrawal penalties on some CDs
No physical branch network
Marcus CD at a glance
9.8
Editorial scoreRates
Higher than average APY offering, low minimum deposit of $500 required
10.0
Fees & Requirements
Publishes early withdrawal penalty fees, 5+ different term lengths, offers specialty/no-penalty CDs
10.0
Security
FDIC insured (directly), SSL/AES encryption and supports 2 factor authentication
10.0
Customer Service
24/7 service with multiple communication options including live chat, FAQ/help page on website, dedicated fraud team
10.0
Customer Experience
Solid mobile app with 4.9/4.9 out of 5 on Google Play and the App store; allows joint CDs; does not have branch locations
9.0
Advantages Over Traditional Banks
Marcus focuses on online savings products rather than operating a traditional branch-based banking model. This allows the institution to provide a streamlined account-opening experience and transparent access to rates and terms before application.
One of the most notable advantages is the $500 minimum deposit requirement across its CD lineup. This relatively accessible entry point may appeal to savers who want to build fixed-rate savings without committing a large initial deposit. Marcus also provides a 10-Day CD Rate Guarantee, which allows eligible customers who fund their accounts within the required timeframe to receive the highest rate offered during that guarantee period for the selected CD term.
Unlike many traditional banks that require branch visits for certain account functions, Marcus enables customers to open accounts, manage maturity instructions, review statements, and monitor their CDs entirely online.
Cutting-Edge Banking Services
Marcus has developed several digital tools designed to simplify the CD management experience.
The CD Explorer serves as a centralized comparison tool that allows prospective customers to review available terms, APYs, and product features in one location. This reduces the need to navigate between multiple product pages when evaluating savings options.
The institution also offers online maturity management through its CD Maturity Center. Customers can review maturity dates, choose renewal instructions, transfer funds, or make account decisions electronically.
The Rate Bump CD introduces additional flexibility by allowing customers to request a one-time increase to their interest rate if Marcus later offers a higher rate on the same CD term.
Traditional Banking Services
Marcus primarily focuses on deposit and savings products rather than providing a comprehensive suite of everyday banking services.
Customers currently have access to:
- High-Yield CDs
- No-Penalty CDs
- Rate Bump CDs
- Online Savings Accounts
However, Marcus does not currently offer:
- Traditional checking accounts
- Debit cards
- ATM networks
- Branch banking
- In-person banking services
This focused product strategy may appeal to individuals who want dedicated savings products without the complexity of a full-service banking relationship.
Interest Rates and Fees
Marcus offers three certificate of deposit products: High-Yield CDs, No-Penalty CDs, and a Rate Bump CD. All CDs require a minimum opening deposit of $500 and earn a fixed APY for the selected term. Rates may change at any time before an account is opened and funded.
High-Yield CDs
High-Yield CDs* are Marcus's traditional fixed-rate CDs. These products offer a guaranteed APY for the duration of the selected term in exchange for keeping funds deposited until maturity.
Term | APY¹ | Minimum Deposit | Early Withdrawal Penalty |
6 Months | 3.95% | $500 | Yes |
9 Months | 4.30% | $500 | Yes |
12 Months | 3.90% | $500 | Yes |
18 Months | 4.35% | $500 | Yes |
2 Years | 4.35% | $500 | Yes |
3 Years | 4.35% | $500 | Yes |
4 Years | 4.35% | $500 | Yes |
5 Years | 4.35% | $500 | Yes |
6 Years | 4.35% | $500 | Yes |
Best for: Savers seeking fixed returns and who do not anticipate needing access to funds before maturity.
No-Penalty CDs
Marcus No-Penalty CDs** provide additional flexibility. After the initial seven-day funding period, customers can withdraw their entire balance without paying an early withdrawal penalty.
Term | APY¹ | Minimum Deposit | Early Withdrawal Penalty |
7 Months | 3.75% | $500 | No |
11 Months | 4.00% | $500 | No |
13 Months | 3.80% | $500 | No |
Important: No-Penalty CDs do not allow partial withdrawals. If funds are withdrawn, the entire balance must be withdrawn and the CD will close.
Best for: Savers who want a fixed rate but may need access to their funds before maturity.
Rate Bump CD
Marcus currently offers a single Rate Bump CD*** term.
Term | APY¹ | Minimum Deposit | Early Withdrawal Penalty |
20 Months | 3.75% | $500 | Yes |
Unlike a traditional CD, the Rate Bump CD allows customers to request a one-time APY increase if Marcus later offers a higher rate on the same CD term.
Best for: Savers who want fixed-rate certainty while maintaining some protection against rising interest rates.
Fees
Marcus does not charge monthly maintenance fees on its CD products.
The primary costs to consider are early withdrawal penalties on High-Yield CDs and the Rate Bump CD if funds are withdrawn before maturity. No-Penalty CDs do not charge an early withdrawal penalty after the initial seven-day funding period, though the entire balance must be withdrawn.
Minimum opening deposit:
- $500 across all CD products
Customer Service and Online Experience
Marcus provides customer support around the clock through multiple channels.
Customers can reach support by phone 24 hours a day, seven days a week. Live chat support is also available after signing into an account. The website contains an extensive collection of FAQs, educational resources, product guides, calculators, and account management tools.
The online experience is straightforward and transparent. Product rates, terms, minimum deposit requirements, and account features are available before beginning the application process. Account opening can typically be completed online without visiting a branch.
The website is well organized and includes educational content explaining CD terms, maturity options, interest calculations, and savings strategies.
Contact Information
Customer Service Phone:
1-855-730-7283
International Customers:
1-212-357-0026
Support Hours:
24 hours a day, 7 days a week
Live Chat:
Available through online account login
Mobile App
Marcus offers a dedicated mobile banking application for both iOS and Android devices.
The app allows customers to:
- View account balances
- Monitor CD accounts
- Review transaction activity
- Transfer funds
- Access statements
- Manage linked bank accounts
- Receive account notifications
Marcus also supports biometric login functionality, including fingerprint and facial recognition authentication on compatible devices.
The mobile app is designed to provide convenient account access while maintaining the same security standards used across the broader Marcus banking platform.
Security
Marcus by Goldman Sachs incorporates several security measures designed to help protect customer information and account access. Deposit accounts are held through Goldman Sachs Bank USA, Salt Lake City Branch, Member FDIC, which means eligible deposits are insured up to applicable FDIC limits.
The platform uses 128-bit SSL encryption to help secure data transmitted between customers and Marcus's online banking systems. Marcus also supports multi-factor authentication, providing an additional layer of protection beyond a username and password. Customers using the Marcus mobile app can take advantage of biometric login features, including fingerprint and facial recognition authentication on compatible devices.
In addition to account access controls, Marcus maintains fraud monitoring processes and provides customers with access to a dedicated Privacy Center where they can review the bank's privacy practices and account security information. These safeguards work together to help protect personal information and reduce the risk of unauthorized account access.
For customers considering a certificate of deposit, the combination of FDIC insurance, encryption technology, multi-factor authentication, and biometric login support provides several layers of protection for both deposits and account credentials. While no online banking platform can eliminate all security risks, Marcus offers many of the security features that customers expect from a large financial institution.
Summary
Marcus by Goldman Sachs offers a focused CD lineup that combines simplicity with flexibility. Savers can choose between traditional High-Yield CDs, No-Penalty CDs, and the Rate Bump CD depending on their liquidity needs and interest-rate expectations. The low $500 minimum deposit requirement, online account management tools, FDIC insurance, and 24/7 customer support make Marcus a practical option for individuals seeking fixed-rate savings products through a digital banking platform.
Physical Address
Goldman Sachs Bank USA
11850 South Election Road
Draper, UT 84020
Mailing Address:
Goldman Sachs Bank USA
PO Box 70379
Philadelphia, PA 19176-0379
Methodology
This review was created using information gathered from the official Marcus by Goldman Sachs website, including product pages, disclosure documents, support resources, and account management information. Additional review included examination of the CD Explorer tool, mobile banking resources, customer support information, and product terms.
Disclosure:
¹ Annual Percentage Yield (APY) as of Sep 17th 2026. Maximum balance limits apply.
* High-Yield Certificate of Deposit: APY may change at any time before CD is opened and funded. Penalties that may reduce CD earnings will apply to a withdrawal of principal prior to maturity. $500 minimum to open a CD and earn stated APY. For information about the early withdrawal penalty, visit our FAQs.
** No Penalty CD: APY may change before a No-Penalty CD is opened and funded. Withdrawal permitted starting seven days after the funding date. Must withdraw full balance. $500 minimum to earn stated APY for No-Penalty CD.
*** Rate Bump CD: APY may change at any time before CD is opened and funded. Penalties that may reduce CD earnings will apply to a withdrawal of principal prior to maturity. $500 minimum to earn stated APY for Rate Bump CD. Prior to maturity, you may request an increase to the highest APY and interest rate we offer for the same Rate Bump CD term as of the day of your request. The number of Rate Bump Requests will be determined by the length of the Rate Bump CD term at the time of account opening. The 10-Day CD Rate Guarantee does not apply to rate increases for your Rate Bump CD.
¹Annual Percentage Yield (APY) as of Sep 17th 2026. APY may change before a CD is opened and funded. Penalties that may reduce CD earnings will apply to a withdrawal of principal prior to maturity. $500 minimum to open a CD and to earn stated APY. Maximum balance limits apply. Multiple High-Yield CD terms available.
²$500 minimum. If you open a CD today and deposit at least $500 within 10 days, you will lock in the rate shown above. Penalties that may reduce CD earnings will apply to a withdrawal of principal prior to maturity. Maximum balance limits apply. Learn more.
Written byBestmoney Staff
The BestMoney editorial team is composed of writers and experts covering a full range of financial services. Our mission is to simplify the process of selecting the right provider for every need, leveraging our extensive industry knowledge to deliver clear, reliable advice.