Marcus by Goldman Sachs Savings Review

Marcus is Goldman Sachs' online consumer bank. It's a savings bank and nothing more: a high-yield savings account and CDs, with no checking account, no debit card and no branches. It does that job well.

Rates checked September 23, 2026.

The short version

Good for: an emergency fund or savings goal where you want no fees, no minimums and a well-known bank behind it.

Not for: people who want checking and savings under one login, or who want the very top savings rate available.

Online Savings Account

• APY: 3.40% (confirm on marcus.com before opening)
• Minimum deposit: none
• Monthly fees: none
• Withdrawal limits: none on transfers out
• FDIC insurance: yes, through Goldman Sachs Bank USA

That rate is well above the national savings average of under 0.5%. It's below the top online banks, which pay around 4.1% right now. On a $25,000 balance, that gap costs about $175 a year. Whether that matters is up to you. The top payers are often newer banks, or offer promotional rates that later fall.

Referral boost. If you refer someone, or were referred, Marcus adds 1.00% to your rate for three months. It's a one-off bump, not a permanent rate.

CDs

• High-yield CDs: terms from 6 months to 6 years, with 18 months to 4 years at 4.35% APY right now. The minimum is $500.
• 10-day rate guarantee: if Marcus raises the rate on your term within 10 days of opening, you get the higher rate automatically.
• No-penalty CD: you can withdraw the full balance, penalty-free, from seven days after funding. You can't take out part of it.
• Rate bump CD: you can raise your rate once during the term if Marcus's rate goes up.

The CD rates are among the most competitive from a large bank. The top CD rates on the market are covered in best CD rates.

Moving money in and out

You link an outside checking account and move money by ACH. Transfers usually take one to three business days, with no fee. See how long bank transfers take.

That delay is the main practical drawback. Because Marcus has no checking account, there's no instant internal transfer. Keep a small buffer at your main bank for the first day or two of any emergency. How fast you can get emergency cash explains the two-tier setup.

Customer service

Marcus offers phone support seven days a week, and it scored highest in the savings category of J.D. Power's 2026 U.S. direct banking satisfaction study.

How it compares

For a wider comparison, see compare savings accounts and best high-yield savings accounts.

Verdict

Marcus is a solid, low-maintenance home for savings: no fees, no minimums, strong CDs and good service. If you want the highest rate available, you can do better elsewhere. If you want a savings account you set up once and never think about again, it's hard to fault.

FAQ

Is Marcus safe? Yes. Deposits are FDIC-insured up to $250,000 per depositor through Goldman Sachs Bank USA.

Does Marcus have a checking account? No. You'll need a checking account elsewhere to move money in and out.

Can I open a joint account? Yes. See how joint bank accounts work for how ownership and FDIC coverage work.