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Marcus by Goldman Sachs High-Yield CDs
4.5
★★★★★
Finder score
1-year APY
4.90%
3-year APY
4.15%
5-year APY
4.00%

Our verdict

Open a CD with a competitive APY and low minimum deposit.

Marcus offers attractive, high-yield CD rates across all terms, with the Marcus 12-month CD having one of the most competitive rates at 4.9% APY. You can open any CD with a $500 minimum deposit, which is relatively low compared to other banks. Marcus is also a stellar choice for no-penalty CDs, which let you withdraw your entire balance starting seven days after you fund your account. But Marcus doesn't allow partial withdrawals, so you'll have to withdraw your entire balance to access your money before it matures. Overall, Marcus’ CDs have flexibility, are pretty easy to open and offer high rates that are hard to beat.

Best for: Those who prefer online banking and want a competitive APY.

Pros

  • High rates across most terms
  • No-penalty CD options
  • Low $500 opening deposit
  • 10-day CD rate Guarantee

Cons

  • No physical branches
  • Doesn’t allow partial withdrawals

In this guide

  • Our verdict
  • Your reviews
  • Ask a question

Overview of Marcus’ CD rates

Overall, Marcus’ CD rates are competitive, topping out at 4.9% APY on its 12-month High-Yield CD, which is its standard CD product.

Its standard CD rates range from 3.90% to 4.9% APY, which means that no matter if you choose a term as short as six months or as long as six years, you’ll get a rate much higher than the national averages. The CD’s interest is also compounded daily.

A standout feature with Marcus is its 10-day CD rate guarantee, which stipulates that as long as you fund your account with the $500 minimum deposit within 10 days of opening, if the rate were to go up on your selected CD term, you’ll get the higher rate. You can also add more funds to your account within 30 days of opening the CD, which isn’t often allowed by competitors.

CD termAPYMinimum deposit
6 months4.8%$500
9 months4.9%$500
12 months4.9%$500
18 months4.6%$500
24 months4.2%$500
36 months4.15%$500
48 months4.05%$500
60 months4%$500
72 months3.9%$500

Marcus’ no-penalty CD rates

Marcus offers three terms. Two of the terms offer much lower interest rates than its standard CDs, but the tradeoff is that if you need to withdraw before the term is up, you won’t face any early withdrawal penalties.

No penalty CD termAPYMinimum deposit
7 months0.45%$500
11 months0.35%$500
13 months4.7%$500

More about Marcus’ CDs: Deposits, fees and details

What it isDetailsHow it compares
Minimum deposit$500Much lower than other large banks, which often require at least $1,000.
Term range6 months to 6 yearsWide range, but fewer term options than top competitors.
Early withdrawal penalties
  • Less than one year: 90 days interest
  • 1 to 5 years: 180 days interest
  • 5 years or more: 270 days of interest
Steeper than some competitors, but Marcus does offer no-penalty CDs as well.
Grace period10-day grace periodTypical among competitors.

Cashout and rollover details

Marcus by Goldman Sachs is an online division that focuses on savings accounts, so you won’t need to head to a branch to cash out your CD — because it doesn’t have any physical branches.

You’ll get a 10-day grace period before your CD matures, but you’re not limited to modifications within that time.

Marcus has something called its CD Maturity Center that’s online, where you can renew, cash out or modify your CD. You can access this through your online Marcus account. For terms longer than 12 months, you can modify your CD plan any time during the 12 months before your CD maturity date. For CDs shorter than 12 months, you can make changes up to the day before your CD matures. You can also chat or call Marcus 24/7.

Marcus notifies you 30 days before your CD’s maturity date, and if you make any changes to your CD, it sends confirmation.

How Marcus by Goldman Sachs’ CDs and rates compare

Marcus’ CD rates beat out national averages by a long shot. With the 12-month CD average interest rate currently being 1.81% and Marcus offering a high 4.9% for its 12-month standard CD, it beats the average rate considerably.

You also only need $500 to open a CD, whereas most other banks with rates this good commonly require much higher opening deposits. In comparison, traditional banks like Chase require at least $1,000 to $100,000 upon opening, and Wells Fargo requires at least $2,500 for its standard CDs.

All in all, Marcus’ CDs are hard to beat. You get sky-high rates across all the standard CD terms and the ability to modify your CD’s plan online. All that combined with the security of going with a well-known name like Marcus by Goldman Sachs, it’s a solid option for anyone who prefers managing a CD exclusively online.

Compare Marcus to competitor rates

Narrow down top CDs by APY and minimum deposits to find the best one for your financial goals. Select Compare for up to four products to see their benefits side by side.

1 - 14 of 14
Name Product 6-month APY 1-year APY 5-year APY Minimum deposit to open
Crescent Bank CDs
Finder Rating: 4.8 / 5: ★★★★★
Crescent Bank CDs
N/A
4.85%
3.90%
$1,000
Earn competitive rates up to 4.85% APY (annual percentage yield) on terms ranging from 1 to 5 years. Pay $0 maintenance fees. Member FDIC.
Alliant Credit Union CDs
Finder Rating: 4.8 / 5: ★★★★★
Alliant Credit Union CDs
5.00%
5.15%
4.00%
$1,000
Lock in rates as high as 5.15% APY with a low $1,000 minimum deposit. Compounded monthly. FDIC insured.
Western Alliance Bank 12 months CDs through Raisin
Finder Rating: 4.7 / 5: ★★★★★
Western Alliance Bank 12 months CDs through Raisin
N/A
5.00%
N/A
$1
Get 5% APY on a 12 month CD, and earn an APY that’s higher than the national average. Pay no fees and just a $1 minimum deposit. FDIC insured.
Valley Direct Online CD
Finder Rating: 5 / 5: ★★★★★
Valley Direct Online CD
N/A
4.50%
N/A
$500
Earn 4.50% APY on a 12 month CD. FDIC insured per depositor, per account ownership category.
Quontic Bank CDs
Finder Rating: 5 / 5: ★★★★★
Quontic Bank CDs
5.05%
4.50%
4.30%
$500
Lock in a high rate. Minimum of $500 required to open. Open your account in 3 minutes or less. Member FDIC.
Ponce Bank CD through Raisin
Finder Rating: 4.9 / 5: ★★★★★
Ponce Bank CD through Raisin
4.00%
N/A
N/A
$1
Snag the highest APYs on the market for the shortest CD terms via Raisin. FDIC insured.
Sallie Mae CDs through Raisin
Finder Rating: 4.7 / 5: ★★★★★
Sallie Mae CDs through Raisin
N/A
N/A
N/A
$1
Lock in strong CD rates as high as APY on term lengths you'll only find through Raisin. Plus, you only need $1 to open and you have the option of opening a no-penalty CD. Member FDIC.
Discover® CDs
Finder Rating: 3.8 / 5: ★★★★★
Discover® CDs
4.25%
4.70%
3.75%
$2,500
Start saving with $2,500 and enjoy flexible terms from 3 months to 10 years with no account fees. FDIC insured
CIT Bank Term CDs
Finder Rating: 3.5 / 5: ★★★★★
CIT Bank Term CDs
3.00%
0.30%
0.50%
$1,000
Lock up to a 3% APY with a 6-month CD from CIT Bank, a division of First Citizens Bank with 125 years of experience. $1,000 minimum to open. FDIC insured.
State Exchange Bank CD through Raisin
Finder Rating: 1.5 / 5: ★★★★★
State Exchange Bank CD through Raisin
N/A
N/A
1.71%
$1
Locally-owned independent community bank. Member FDIC No fees.
Sallie Mae 10m CD through Raisin
Finder Rating: 3.5 / 5: ★★★★★
Sallie Mae 10m CD through Raisin
N/A
N/A
N/A
$1
Earn a competitive 4.7% APY on this 10-month CD. Plus, you only need $1 to open it and there are no withdrawal penalty fees. Member FDIC.
CIT Bank No-Penalty CD
CIT Bank No-Penalty CD
N/A
N/A
N/A
$1,000
Enjoy the security of a CD while still having access to your funds. 11 month term with a 3.5% APY and $1,000 minimum deposit. FDIC insured.
Sallie Mae 14m No Penalty CD through Raisin
Sallie Mae 14m No Penalty CD through Raisin
N/A
N/A
N/A
$1
Earn 4.75% APY, which is higher than the national average. Open with as low as $1. Pay $0 fees and no penalty for early withdrawal. Member FDIC.
CIT Bank Jumbo CDs
Finder Rating: 2.4 / 5: ★★★★★
CIT Bank Jumbo CDs
N/A
N/A
0.50%
$100,000
A Jumbo CD for large balances of $100,000 or more with term options from 2 to 5 years earning up to 0.5% APY. FDIC insured.
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CDs ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We rate CDs and share certificates on a scale ranging from one to five stars based on what matters most to you. We consider two factors equally when rating CDs: minimum deposits and annual percentage yields (APYs) relative to term length. If a bank requires a different minimum opening deposit depending on the chosen term, we rate the CD based on the average minimum deposit across all terms. And although some institutions offer CDs with terms ranging from one week to 20 years, we only consider term lengths the FDIC uses in its monthly updates on national rates.

Read the full methodology of how we rate CDs.

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Bethany Finder

Writer, Banking and Loans

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