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If you're looking for CDs that earn big, check out Marcus CD rates. Marcus by Goldman Sachs offers nine CD terms with impressive interest rates, and no-penalty CDs for customers who want early access to funds. Here's a more detailed look at Marcus CD rates, how their annual percentage yields (APYs) compare to the best CD rates, and whether Marcus CDs are worth it.
APY = Annual Percentage Yield
Savers have the potential to create effective CD ladders through Marcus, as it provides competitive rates through the most common CD terms. The minimum deposit is $500 and withdrawal penalties are moderate compared with competitive banks.
6 Mo. APY | 9 Mo. APY | 1 Yr. APY | 1.5 Yr. APY | 2 Yr. APY | 3 Yr. APY | 4 Yr. APY | 5 Yr. APY | 6 Yr. APY |
---|---|---|---|---|---|---|---|---|
5.10% | 5.00% | 5.00% | 4.60% | 4.20% | 4.15% | 4.05% | 4.00% | 3.90% |
A high-interest savings account offers rates competitive with the best CDs accounts, but without having to lock your money away for months or even years at a time. Here are some top-rated high-yield savings account options from our experts.
Account | APY | Promotion | Next Steps |
---|---|---|---|
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Open Account for SoFi Checking and Savings
On SoFi's Secure Website.
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
|
up to 4.60%²
Rate info
You can earn the maximum APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.
Min. to earn: $0
|
New customers can earn up to a $300 bonus with qualifying direct deposits!¹
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Open Account for SoFi Checking and Savings
On SoFi's Secure Website. |
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Open Account for Capital One 360 Performance Savings
On Capital One's Secure Website.
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
|
4.25%
Rate info
See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of April 11, 2024. Rates are subject to change at any time before or after account opening.
Min. to earn: $0
|
N/A
|
Open Account for Capital One 360 Performance Savings
On Capital One's Secure Website. |
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Open Account for American Express® High Yield Savings
On American Express's Secure Website.
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
|
4.25%
Rate info
4.25% annual percentage yield as of August 24, 2024
Min. to earn: $1
|
N/A
|
Open Account for American Express® High Yield Savings
On American Express's Secure Website. |
Marcus CD rates are among the highest rates in the market, but it may be worth comparing other CD accounts to find the right fit for your needs. See below for a selection of CD rates with high yields.
Bank & CD Offer | APY | Term | Min. Deposit | Next Steps |
---|---|---|---|---|
Member FDIC.
| APY: 4.60% | Term: 1 Year | Min. Deposit: $2,500 |
Open Account for Discover® Bank CD
On Discover Bank's Secure Website. |
Member FDIC.
| APY: 5.20% | Term: 10 Months | Min. Deposit: $2,500 |
Open Account for
On Secure Website. |
Member FDIC.
| APY: 5.10% | Term: 6 Months | Min. Deposit: $500 |
Open Account for
On Secure Website. |
A Marcus CD can be a good place to keep a college fund, vacation fund, or other savings that you won't need to access short-term.
PROS
CONS
Marcus by Goldman Sachs offers two CD types, with High-Yield CDs as the primary offering. There are a host of term lengths to meet most needs, ranging from six months to six years. With so many term options, Marcus CDs are great for building a CD ladder, which gives customers more flexibility with their money.
Marcus High-Yield CDs require a $500 minimum deposit. Several online banks have no deposit requirements, but don't let that deter you from opening a Marcus CD. With its competitive rates and the ability to add more money to your CDs for 30 days, you can maximize your savings.
The interest you earn is automatically added to your CD's principal balance each month, but there is an option to transfer it to another bank account. Withdrawing your CD balance prior to maturity will result in early withdrawal penalties of up to 365 days of simple interest.
Marcus CDs come with fixed rates. As long as you fund your account with the $500 minimum within 10 days of opening, you'll lock in Marcus' highest rate available during that time frame.
Marcus also offers the following CD accounts:
Marcus CDs are perfect for people who want to earn high-yield interest and don't need their money for a while. They are also great for those who prefer online banking over traditional methods, since Marcus accounts are only available online.
APY = Annual Percentage Yield
At The Motley Fool Ascent, certificates of deposit (CDs) are rated on a scale of one to five stars, primarily focusing on annual percentage yield (APY) and early withdrawal penalty fees. Our highest-rated CDs generally include competitive APYs without complex qualification tiers, low withdrawal fees, reliable brand trust and reputation, and ease of use.
Learn more about how The Motley Fool Ascent rates bank accounts.
Marcus' competitive CD rates are the main draw, but don't overlook the fact that you can continue to add funds for the first 30 days. Adding more funds allows you to earn even more interest over time.
Even with a $500 minimum deposit, Marcus CD rates make the investment more than worth it, especially with 12-month terms (or longer). Before you open an account, be sure you don't need access to those funds during the term so you don't get hit with a penalty, which can eat away at any interest earned.
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent, a Motley Fool service, does not cover all offers on the market. The Ascent has a dedicated team of editors and analysts focused on personal finance, and they follow the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands.