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Marcus by Goldman Sachs

Savings, CDs and Personal Loans
Marcus by Goldman Sachs is an online bank offering high-yield savings and certificate of deposit accounts, and personal loans with no fees.


Marcus by Goldman Sachs offers online banking products like high-yield savings accounts and certificate of deposit accounts, personal loans between $3,500 and $40,000, as well as managed portfolios for investing or retirement. With Marcus Insights, a tool available through their mobile app, you can optimize your money in an automated way.

Suppose you are looking for an online bank with a high yield savings account and a high yield certificate of deposit. In that case, Marcus offers one of the best APYs, especially considering their low minimum deposits and no-fee accounts. 

Marcus’ banking offering is limited, so you will have to look into other banks or financial institutions for other banking products like money market accounts or mortgages. However, it may be worth it since they offer competitive rates with no monthly fees on their accounts.

About Marcus

Marcus Goldman founded Goldman Sachs in 1869, long before the invention of the internet. Today, Goldman Sachs has become a bank holding company with a subsidiary online-only bank, Goldman Sachs Bank. Goldman Sachs was successful in the financial crisis, earning billions in profits.

Marcus by Goldman Sachs was created with the mission of helping people achieve financial well-being and bringing financial expertise to their clients. With over 150 years of financial experience, Marcus has designed online banking products and tools to help you make the most out of your money.

The deposits at Marcus by Goldman Sachs are FDIC insured through Goldman Sachs Bank USA, Salt Lake City Branch that provides all loans and savings deposit products.

Online Banking

Marcus Bank is a bank that is strictly online. The bank is best for you if you don’t need a bank branch or ATM network. Marcus does not offer a debit card or ATM card, making deposits hard to access. To access your deposits, you will have to do so through electronic transfers using a third-party or a linked external bank account, a wire transfer, or by requesting a check by phone to be sent to you.

Marcus has a mobile app for both iOS and Android that lets you connect your bank account to access mobile banking. Since mobile check deposit is not offered through the mobile app, you must use electronic transfers or automated deposits to add funds to your account, or else send a check by U.S. mail. 

One of the app highlights is Marcus insights, which allows you to connect external accounts and track your saving goals and money in one location through Marcus mobile app.

If you need to reach out to customer service, you can do so by phone or live chat if you are already a Marcus customer.

High-yield Savings Account

Marcus offers an online savings account with a very competitive APY. You can open high-yield online savings accounts with Marcus with no minimum deposit or minimum balance and a maximum limit of $1 million.


Marcus offers two options for Certificate of Deposits (CDs), with very competitive annual percentage yields and a minimum deposit of $500. The rates are one of the best CD rates available, and the minimum deposit is lower than the average.

The high-yield CD offers terms between 6 months to 6 years. The longer-term CDs give you higher APYs, but also have higher early withdrawal penalties. In contrast, the no-penalty CD has a 7-month term.

Personal Loans

Marcus offers good options for a personal loan if you need to make a personal purchase, like debt consolidation, paying off credit cards, or a home improvement. You can borrow between $3,500 and $40,000 of unsecured personal loans with a monthly payment depending on the interest rate, loan amount, and loan term.

How to Get Started with Marcus by Goldman Sachs

Since Marcus is an online bank, you can start opening an account or applying for a personal loan online on their website. Bear in mind that there is no minimum deposit to open a high-yield savings account, but for CD accounts, there is a minimum deposit of $500.

FAQs About Marcus by Goldman Sachs (5)

  • Are deposits at Marcus accounts FDIC insured?

    Marcus loans and savings and deposit products are provided by Goldman Sachs Bank USA, an FDIC member. This means your funds are insured up to the maximum allowed by law.

  • How do you open a Marcus bank account?

    Since Marcus is a fully online bank with no branches, you can open an account online by visiting their website. Note that there is no minimum deposit required to open a high-yield savings account, but there a minimum deposit of $500 to open a CD account.

  • Is Marcus' interest paid monthly?

    For your Marcus account, the interest is compounded daily and calculated using the daily balance method. Marcus credits interest monthly to your account.

  • How much money do you need to open a Marcus by Goldman Sachs account?

    There is no minimum deposit required to open a Marcus savings account. Both the high-yield CD and no-penalty CD require a minimum deposit of $500.

  • How can you withdraw money from a Marcus account?

    Since Marcus does not offer debit or ATM cards, you can withdraw funds from your Marcus account by initiating an ACH Transfer into a linked account at an external bank, by having an external bank initiate an ACH Transfer from your Marcus account, by wire transfer, or requesting a check sent to you by mail. Note that there may be some transfer limits.

Marcus by Goldman Sachs

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Marcus by Goldman Sachs Products and Services


High-Yield Savings Account

A high-yield savings account with a competitive APY, no minimum deposit, and no monthly fees.

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High-Yield CD Accounts

CD accounts with competitive rates and terms between 6 months and 6 years.

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No-Penalty CD Accounts

A CD account with a competitive interest rate and a 7 months term.

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Personals Loans

Borrow between $3,500 and $40,000 with a personal loan with no fees and a fixed APR.

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Why Us

High-Yield Savings Accounts

Earn a competitive interest rate by opening an online savings account with no monthly fees or minimum deposit requirement.

High-Yield CD Accounts

Choose from high-yield CDs with terms between 6 months and 6 years or a no-penalty CD with a 7 months term.

Personal Loans With No Fees

Get a personal loan with no sign-up fees or prepayment fees, a fixed APR and and a pay on time reward,


Get Started with Marcus

Open a high-yield savings account, a high-yield CD account, or apply for a personal loan with no hidden fees.

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This page’s information results from independent research by our editorial team, who does their best to reflect factual and accurate information about the financial institution and its products. Financial institutions are not responsible for the content posted on; visit the financial institutions’ website or contact it directly if you have any questions.

If you work for this financial institution and want to adjust any information, contact us at [email protected].

* Marcus loans and savings and deposit products are provided by Goldman Sachs Bank USA, member FDIC.

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