Marcus by Goldman Sachs Review: HYSA and CDs
Marcus by Goldman Sachs is a savings-only online bank: an HYSA with no minimum balance and no monthly fees, plus a small lineup of CDs. We do not print its current rate on this page, since savings rates change without notice and a number printed here can go stale within weeks. This review covers every product Marcus offers, what it does well, and where it falls short, with a link to Marcus’s own rate page for today’s number.
Account details on this page were last checked on August 23, 2026. We do not publish a bank’s APY here, because savings rates change without notice and a stale number is worse than none. Use the link by each account to see the rate the bank is paying right now. National averages come from the FDIC National Rates and Rate Caps.
Marcus by Goldman Sachs at a glance
| Feature | Detail |
|---|---|
| Rate structure | One rate at any balance |
| Minimum balance | $0 |
| Monthly fees | $0 |
| ATM access | No |
| Checking account | Not available |
| FDIC insured | Yes, up to $250,000 |
| Best for | Fee-hating savers who want a trusted brand |
Our verdict
Marcus wins for people who want a trusted brand, a competitive rate, and zero fees. If you hate fine print and just want a clean savings account from a name-brand institution, Marcus checks every box. There are no monthly fees, no minimum balance, and no surprise charges of any kind.
Marcus is not always the highest-yielding option. CIT Bank Platinum Savings, for example, pays more once your balance clears its $5,000 threshold. If every basis point matters, compare rates before you commit. But if you want the Goldman Sachs name behind your savings, the institutional credibility and no-fee promise make Marcus a strong pick.
The main trade-offs are simple: no ATM card and no checking account. Marcus is savings-only. To spend money from Marcus, you initiate an ACH transfer to your regular bank, which takes 1 to 3 business days. If you can live with that, Marcus is excellent. If you want instant cash access or a full banking relationship, look at Capital One 360 instead, which offers branches and a checking account you can reach an ATM through.
Marcus HYSA details
We do not publish Marcus’s rate on this page. Check marcus.com for the current number before opening an account.
Rate structure
One rate at any balance
Minimum balance
$0
Monthly fee
$0
ATM card
No
Withdrawal method
ACH transfer
Transfer time
1-3 business days
FDIC insured
Yes
Marcus CD options
| Product | Term | Min. Deposit | Early Withdrawal Penalty | Current rate |
|---|---|---|---|---|
| 12-Month CD | 12 months | $500 | 90 days of interest | Check |
| 6-Month CD | 6 months | $500 | 90 days of interest | Check |
| No-Penalty CD | Flexible | $500 | None (after 7 days) | Check |
What Marcus does well
- No minimum balance on the HYSA. Most competitors require $500 or more to open.
- No monthly maintenance fee, no transfer fee and no account closure fee. Check the current fee schedule for anything else, such as an outgoing wire.
- Goldman Sachs name means deep institutional backing. FDIC insured with a strong capital base.
- Mobile app includes savings goal buckets, useful for tracking separate goals like an emergency fund or a down payment.
Where Marcus falls short
- No ATM card or debit card. Cash access requires an ACH transfer to an outside bank, which takes 1 to 3 business days.
- No checking account pair. Marcus is savings-only. It works best as a hub for your savings, not your spending.
- Marcus does not always have the top rate. Synchrony and CIT Bank sometimes pay more. If you want to maximize yield, compare rates before you commit.
Who should open a Marcus account
Marcus is a great fit if you want a savings account from a name-brand institution, hate fees, and do not need ATM access. It is especially good for emergency funds, down-payment savings, or any money you plan to park and grow without touching it often. The $0 minimum balance means you can open an account with whatever you have right now.
If you want to compare rates directly, check Synchrony or CIT Bank alongside Marcus, since either can pay more depending on the week. If you want a full banking relationship with checking plus savings in one place, Capital One 360 is worth a look. Marcus works best when it pairs with a checking account you already have at another bank.
How Marcus compares to top alternatives
| Bank | Rate structure | Min Balance | ATM | Checking |
|---|---|---|---|---|
| Marcus by Goldman Sachs | One rate at any balance | $0 | No | No |
| CIT Bank Platinum Savings | Tiered by balance | $5,000 for top tier | No | No |
| Capital One 360 | One rate at any balance | $0 | Yes | Yes |
See our full best high-yield savings accounts comparison for a wider look at the options.
How to open a Marcus account
- Visit marcus.com or click the link on this page to go directly to the Marcus HYSA application.
- Enter your personal information: name, address, date of birth, and Social Security number.
- Fund your account via ACH from your current bank. The transfer takes 1 to 3 business days to clear.
See how much you could earn
Plug in Marcus’s current rate and your balance to see your growth over 1, 3, and 5 years.
Model it in the calculatorFrequently asked questions
Is Marcus by Goldman Sachs safe?
Yes. Marcus is operated by Goldman Sachs Bank USA, which is FDIC insured. Your savings are covered up to $250,000 per depositor. Goldman Sachs is one of the largest and most regulated banks in the world. (Source: FDIC.gov)
What is the current Marcus HYSA rate?
We do not publish that figure here, because savings rates change without notice and a number printed on this page can go stale within weeks. Marcus pays one rate at any balance, with no minimum balance required. Check the Marcus website for today's rate before you open an account.
Does Marcus have a checking account?
No. Marcus is a savings-only bank. You cannot write checks or use a debit card directly from Marcus. Move money in and out via ACH transfers to your regular checking account.
Is Marcus good for emergency funds?
Yes. A Marcus HYSA is a solid place for an emergency fund. No fees, no minimum balance, FDIC insured, and a competitive rate. The only trade-off is that you need to transfer money out before you can spend it, which takes 1-3 business days. If you need instant access to cash, pair Marcus with a checking account at another bank.
How do Marcus CDs compare to Marcus HYSA?
CD rates and HYSA rates move independently, and the gap between them changes over time. The trade-off with a CD is fixed: your money is locked for the term, and the 12-month CD carries a 90-day interest penalty if you withdraw early. A HYSA stays fully liquid. Compare the current rate on each product page before deciding, and use a CD only if you know you will not need the money for the term length.
What is the Marcus no-penalty CD?
The no-penalty CD lets you withdraw your full balance any time after 7 days with no early withdrawal fee. Its rate is typically a bit lower than a locked 12-month CD, since you are trading some yield for flexibility. It is a middle option between a fully liquid HYSA and a traditional locked CD.
Can I have multiple Marcus accounts?
Yes. You can open multiple savings accounts (up to a combined $1 million) and multiple CDs. Useful for bucketing goals (emergency fund, vacation fund, down payment). All counts toward the $250,000 FDIC limit per bank.
Sources and methodology
Product terms and structure were checked against marcus.com. We do not publish Marcus’s APY here: rates move without notice and we have no maintained feed that would keep a figure honest between updates. Marcus’s own rate page is linked throughout this review for the current number. FDIC insurance data from fdic.gov. See our methodology page for full editorial standards.
What to do next
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