Marcus by Goldman Sachs is an online bank that offers a high-yield savings account. While you can find higher APYs elsewhere, you’ll still enjoy a very competitive rate and other conveniences. The Marcus by Goldman Sachs’ savings account comes with no fees and there is no minimum deposit to open the account. Marcus by Goldman Sachs earned a 5 out of 5 in Bankrate’s overall rating of the bank.
Marcus by Goldman Sachs savings account rates
Let’s take a closer look at the savings account option in the chart below.
|Account name||APY||Minimum deposit|
|High-yield savings account||0.60||No minimum deposit|
Note: The APYs (Annual Percentage Yield) shown are as of Sept. 9, 2020. The APYs for some products may vary by region.
How Marcus by Goldman Sachs savings rates compare to top-yielding banks
The high-yield online savings account offered by Marcus by Goldman Sachs is mediocre with better rates available elsewhere.
PNC Bank, for example, offers an online savings account that is currently paying significantly more than the Marcus by Goldman Sachs’ high-yield online savings account.
If you’re in search of the best place to keep your savings, be sure to compare the best rates on savings accounts here.
Other savings options at Marcus by Goldman Sachs
Marcus by Goldman Sachs also offers CDs that can help you save for your future. Its CDs are available in various terms — ranging from six months to six years. Marcus will compound CD interest daily rather than monthly or quarterly so you can earn it more often.
Savers can also select from the bank’s no-penalty CDs. These products won’t charge you for withdrawing your money early as long as your account has been funded for at least seven days.
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