Marcus by Goldman Sachs High-Yield CD

Why we like it

Overview: Marcus is the Goldman Sachs branch launched in 2016 that handles online banking products, including an extensive line-up of CDs with terms from six months to six years. Rates include its one-year CD with 3.25% APY (annual percentage yield) as of 10/07/2022. The minimum is lower than many banks, though some have no minimum. Marcus CD rates from the one-year term onward tend to be better. The bank also has two specialty types of CDs: a 20-month bump-rate CD and three no-penalty CD terms, which include seven months, 11 months and 13 months. Live customer service by phone is available every day.

Fees: No monthly or opening fees. If you withdraw early from a standard Marcus CD, the penalty is the following: three months’ worth of interest earned for CD terms less than a year, nine months of interest for CD terms of one to five years and one year’s worth of interest for the six-year CD.

Other products: Its savings account’s rate is similarly impressive. The bank doesn’t, however, offer mobile apps, ATMs, branches or checking accounts, so it’s best for letting the interest on your money grow.

List of Marcus CD rates:

6-month CD: 2.50% APY

9-month CD: 2.65% APY

1-year CD: 3.25% APY

18-month CD: 3.30% APY

2-year CD: 3.40% APY

3-year CD: 3.45% APY

4-year CD: 3.45% APY

5-year CD: 3.50% APY

6-year CD: 3.50% APY

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