Marcus CD Rates: September 2023

Marcus offers competitive CD rates with terms from 6 to 72 months

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Rebecca Safier
Rebecca Safier
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Rebecca has been writing about personal finance for more than seven years. Her work has been published in MarketWatch, U.S. News & World Report, and other publications, and she has contributed expert commentary to Fortune, Money, NBC, and more.?
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Updated September 18, 2023
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Michael Rosenston
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Michael Rosenston is a fact-checker and researcher with expertise in business, finance, and insurance.
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Marcus CD Rates

Marcus by Goldman Sachs is an online bank that offers a variety of accounts, including three types of CDs: a high-yield CD, a no-penalty CD, and a rate bump CD. As of publication, Marcus is also offering a special promotional 10-month CD with an extra-high APY.?

Marcus’ high-yield CDs come with competitive rates on all terms, with the highest APY offered on an 18-month term. The APYs on its No-Penalty CD are lower, but this CD type gives you the option of withdrawing your money early without penalty. Finally, Marcus’ Rate Bump CD only comes with one term of 20 months, but it gives you the option to upgrade your rate once if rates increase during your term.

The APYs listed below are up to date as of the date of publication of this article. We review CD rates every two weeks and update the information below accordingly.

Marcus High-Yield CD Overview

?CD Term ?APY ?Minimum Deposit
6 months 4.90% $500?
9 months? 5.00%? $500?
12 months? 5.10%? $500?
18 months? 5.00%? $500?
24 months? 4.40%? $500?
36 months? 4.30%? $500?
48 months 4.00%? $500?
60 months? 3.80%? $500?
72 months? 3.70%? $500?

Marcus No-Penalty CD Overview

CD Term APY? Minimum Deposit?
7 months 0.45% $500
11 months? 0.35%? $500?
13 months? 4.60%? $500?

Although this CD has no penalty for early withdrawals, you must wait at least seven days after the funding date to make a withdrawal.

Marcus Rate Bump CD Overview

?CD Term APY? Minimum Deposit?
20 months 4.35%? $500?

Marcus’ Rate Bump CD lets you upgrade your rate once if Marcus raises the rates on its 20-month CDs during your term.?

Marcus CD Rates: Key Features

Marcus High-Yield CD Key Features

APY Range? 3.70%–5.10%
Minimum Balance? $500?
Term Range? 6–72 months?
Early Withdrawal Penalty? 90 days interest on terms less than 1 year 180 days interest on terms of 1–5 years 270 days interest on terms more than 5 years?
Grace Period for Penalty-Free Withdrawals? 10 days?

Marcus No-Penalty CD Key Features

?APY Range 0.35%–4.60%
Minimum Balance? $500?
?Term Range 7–13 months?
?Early Withdrawal Penalty None?
?Grace Period for Penalty-Free Withdrawals N/A?

Marcus Rate Bump CD Key Features

?APY Range 4.35%
Minimum Balance? $500?
?Term Range 20 months?
?Early Withdrawal Penalty 90 days interest on terms less than 1 year
180 days interest on terms of 1–5 years
270 days interest on terms more than 5 years?
?Grace Period for Penalty-Free Withdrawals 10 days?

Compare Savings Account Rates

Are Marcus CDs FDIC-Insured?

Yes, Marcus CDs are FDIC-insured. Provided by Goldman Sachs Bank USA, an FDIC member, Marcus CDs are FDIC-insured for up to $250,000.

What Is the Early Withdrawal Penalty for Marcus CDs?

The early withdrawal penalty on Marcus CDs varies depending on the CD’s term length. The penalty is 90 days of interest on terms less than one year, 180 days of interest on terms of one to five years, and 270 days of interest on terms more than five years.?

The Marcus No-Penalty CD doesn’t charge an early withdrawal penalty, but you must wait seven or more days from your opening deposit to make a withdrawal.

What Is the Minimum Opening Deposit for Marcus CDs?

The minimum opening deposit for Marcus CDs is $500. This minimum deposit applies to all three CD types that Marcus offers: high-yield CDs, no-penalty CDs, and rate bump CDs.

Article Sources
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  1. Marcus by Goldman Sachs. "High-Yield Certificates of Deposit."?

  2. Marcus by Goldman Sachs. "No-Penalty CD."?

  3. Marcus by Goldman Sachs. "Rate Bump CD."?

  4. Marcus. "FDIC: Deposit Insurance and Coverage."