Marcus by Goldman Sachs brings the investment bank's reputation to consumer savings. While not a full-service bank (no checking accounts), Marcus excels at high-yield savings and CDs with the backing of one of Wall Street's most prestigious names.
Marcus High-Yield Savings
The core Marcus product offers:
- Top-tier interest rates consistently competitive
- No minimum deposit to open
- No monthly fees
- No transaction fees
- FDIC insurance up to $250,000
Marcus rates typically rank among the highest available, making it excellent for emergency fund parking.
Marcus CDs
CD terms range from 6 months to 6 years with competitive rates:
High-Yield CDs
- $500 minimum deposit
- Standard early withdrawal penalties
- 10-day rate guarantee
- Automatic renewal at maturity
No-Penalty CDs
7-month, 11-month, and 13-month terms allowing full withdrawal after seven days with no penalty. Rates are slightly lower than standard CDs but provide flexibility.
Rate Bump CDs
20-month term with one rate increase option if Marcus raises rates. Useful during rising rate environments.
Marcus Credit Cards
Marcus offers the GM Card (co-branded with General Motors) providing:
- Earnings toward GM vehicle purchases
- No annual fee options
- Competitive rates for balance carrying
For broader credit card options, see our guides on best cash back cards.
Marcus Invest
Robo-advisor service offering:
- Professionally managed portfolios
- Low advisory fee (0.25%)
- No minimum investment
- Smart beta strategies available
What Marcus Doesn't Offer
Important to understand Marcus limitations:
- No checking accounts
- No debit cards
- No ATM access
- No physical branches
- No cash deposits
Marcus serves as a savings-focused complement to checking elsewhere, not a complete banking solution.
Digital Experience
Marcus provides clean, simple interfaces:
- Mobile app for iOS and Android
- Easy external transfers
- Account alerts and notifications
- Goal tracking for savings
Goldman Sachs Backing
The Goldman Sachs name provides credibility and stability. As one of the world's largest investment banks, Goldman backing offers:
- Financial strength and stability
- Sophisticated risk management
- FDIC insurance protection
- Professional customer service
Who Should Use Marcus?
Marcus works best as a dedicated savings vehicle alongside checking elsewhere. Ideal for customers who want:
- Top savings rates without complexity
- CD options with flexibility
- Goldman Sachs backing and stability
- Simple interface without extra features
Pair Marcus savings with Capital One 360 Checking or Ally for complete digital banking.
Open an account at Marcus.com
