Marcus by Goldman Sachs launched in 2016 as one of the most unlikely products in banking — Wall Street’s most elite investment bank offering a consumer savings account. Seven years later, Marcus has grown to $100+ billion in deposits and earned a reputation as a reliable, no-frills high-yield savings option. This review covers what Marcus offers, where it excels, where it falls short, and whether it deserves your savings in 2026.
Accuracy note (updated October 15, 2026): Marcus’s savings APY on these pages comes from one data file: 3.50%, as shown on Marcus’s own savings page (APY as of October 14, 2026). Marcus doesn’t publish a daily ACH limit on that page; it advertises same-day transfers of $100,000 or less to and from other banks. Marcus no longer makes new personal loans. Rates change, so confirm the current rate at marcus.com before opening an account.
Bottom line: Marcus is excellent for one thing: parking your savings at a competitive rate with zero fees and Goldman Sachs backing. But it’s not a full bank — no checking, no debit card, no ATM access, no investing. If you want a complete banking relationship, Ally or SoFi are better. If you just need a high-yield savings account, Marcus is one of the best.
See the full Marcus guide for transfer limits, comparisons, and product overview.
Marcus at a Glance
| Feature | Details |
|---|---|
| Savings APY | 3.50% |
| CD rates | 3.90–4.50% (varies by term) |
| Monthly fees | $0 (all accounts) |
| Minimum balance | $0 (savings), $500 (CDs) |
| Checking account | No |
| Debit card | No |
| ATM access | No |
| Investing | No |
| Personal loans | No new loans (existing loans only) |
| Credit card | Goldman Sachs issues the Apple Card (see below) |
| Mobile app | 4.6/5 (iOS), 4.4/5 (Android) |
| Customer service | Phone (1-855-730-7283) and chat, both listed by Marcus as 24/7 |
| FDIC insured | Yes ($250,000 per depositor) |
| Parent company | Goldman Sachs Bank USA |
High-Yield Online Savings Account
| Feature | Details |
|---|---|
| APY | 3.50% |
| Minimum to open | $0 |
| Minimum for APY | $0 (same rate for all balances) |
| Monthly fee | $0 |
| Compound frequency | Daily, credited monthly |
| Max accounts | Multiple per person |
| Transfers | 6 withdrawals/month (federal regulation) |
| Linked external accounts | Up to 3 |
Current Rate
| Period | Marcus Savings APY |
|---|---|
| October 14, 2026 | 3.50% (marcus.com) |
We dropped the older rows of this table: they were not sourced and disagreed with the same rows on our other Marcus pages.
Marcus tracks the market honestly — no promotional rates that drop after 3 months, no tiered rates that only apply to small balances. The rate goes up when the market goes up and comes down when the Fed cuts.
What Marcus Savings Lacks
| Feature Missing | Impact | Alternative |
|---|---|---|
| Buckets/sub-accounts | Can’t organize savings goals in one account | Ally Bank has Buckets |
| Auto-savings | No “analyze and save” feature | Ally has Surprise Savings |
| Round-ups | No debit card means no round-ups | Need a checking account (Ally, Chime) |
| Joint account | Not available for savings | Ally, Capital One offer joint savings |
Marcus savings is a plain savings account — competitive rate, no fees, no frills. If you want savings goal tools, round-ups, or automation, look elsewhere.
CDs (Certificates of Deposit)
| Term | APY | Minimum |
|---|---|---|
| 6 months | 3.95% | $500 |
| 9 months | 4.30% | $500 |
| 12 months | 4.40% | $500 |
| 18 months | 4.40% | $500 |
| 2 years | 4.40% | $500 |
Rates as of October 15, 2026 on Marcus’s High-Yield CD page, which lists terms from 6 months to 6 years. Marcus says penalties apply to a withdrawal of principal before maturity; we could not read its schedule, so check Marcus’s FAQ.
No-Penalty CD
| Feature | Details |
|---|---|
| Terms | 7, 11 and 13 months |
| APY | 3.75% (7 months), 4.00% (11 months), 3.80% (13 months) |
| Minimum | $500 |
| Early withdrawal | Full balance, starting 7 days after funding |
| Best use | CD yield with savings account flexibility |
The No-Penalty CD offers a fixed rate with the freedom to withdraw if rates rise or you need the money. You must withdraw the full balance. Marcus also lists a Rate Bump CD (20 months, 4.35% APY on October 14, 2026) on its home page.
CD Laddering Strategy with Marcus
| Rung | Amount | Term | APY | Interest over its term |
|---|---|---|---|---|
| 1 | $10,000 | 6 months | 3.95% | $196 |
| 2 | $10,000 | 12 months | 4.40% | $440 |
| 3 | $10,000 | 18 months | 4.40% | $667 |
| 4 | $10,000 | 2 years | 4.40% | $899 |
As each CD matures, reinvest into a new CD at the end of the ladder. Over time, you have a CD maturing regularly while earning the longer-term rate. Interest = $10,000 x ((1 + APY)^(months / 12) - 1), assuming the APY is earned for the full term.
Personal Loans
Marcus is no longer a source of new personal loans. Goldman Sachs said in January 2023 that it would stop making new personal loans under the Marcus brand, and marcus.com now lists savings accounts and CDs. Existing borrowers continue to manage their loans with Marcus. Check marcus.com before relying on any loan detail.
Apple Card Partnership
| Feature | Details |
|---|---|
| Card issuer | Goldman Sachs (via Apple) |
| Cash back | 3% Apple, 2% Apple Pay, 1% everything |
| Annual fee | $0 |
| APR | 15.49–26.49% |
| Foreign transaction fee | 0% |
| Apple Savings | See our Apple Savings review |
| Unique feature | Cash back deposited to Apple Savings account |
The Apple Card is issued by Goldman Sachs. Daily Cash rewards can be deposited directly into an Apple Savings account powered by Goldman Sachs.
Mobile App
| Feature | Details |
|---|---|
| App Store rating | 4.6/5 (iOS) |
| Account overview | Clean dashboard, all Marcus products |
| Transfers | To/from linked external accounts |
| CD management | View, mature, renew |
| Biometric login | Face ID, Touch ID |
| 24/7 support | Phone and chat listed as 24/7 by Marcus |
Pros and Cons
Pros
| Advantage | Details |
|---|---|
| Competitive savings rate | 3.50% APY, no tiers or gimmicks |
| $0 everything | No fees on any product |
| Goldman Sachs backing | One of the strongest financial institutions in the world |
| No-Penalty CD | CD rate with savings flexibility |
| No minimum balance | $0 on savings (CDs require $500) |
| Rate consistency | Tracks market honestly — no bait and switch |
Cons
| Disadvantage | Details |
|---|---|
| No checking account | Can’t use Marcus as your primary bank |
| No debit card or ATM | Zero access to cash |
| No investing | Need a separate brokerage |
| No joint savings account | Single-owner only |
| No savings tools | No Buckets, no round-ups, no automation |
| Basic app | Functional but feature-light |
Marcus vs Competitors
| Feature | Marcus | Ally | Discover | Capital One 360 |
|---|---|---|---|---|
| Savings APY | 3.50% | 3.10% | Closed to new customers | 3.10% |
| Checking | No | Yes | Yes | Yes |
| Money market | No | Yes | Yes | Yes |
| CDs | Yes | Yes | Yes | Yes |
| No-Penalty CD | Yes | Yes | No | No |
| Investing | No | Yes | No | No |
| Savings tools | Basic | Buckets + Surprise Savings | Basic | Basic |
| Joint accounts | No | Yes | Yes | Yes |
For the transfer limit comparison with Ally, see Marcus transfer limits. For a deeper comparison with Wealthfront, see Marcus vs Wealthfront Cash Account.
Who Should Use Marcus
| Situation | Why Marcus |
|---|---|
| You only need a savings account | Marcus is a top-tier pure-play savings option |
| You want Goldman Sachs security | A+ rated, $200B+ institution |
| You already have checking elsewhere | Marcus savings pairs well with any checking account |
| You value simplicity | No clutter — savings and CDs, done |
| Apple ecosystem user | Apple Card → Apple Savings is seamless |
Who Should Look Elsewhere
| Situation | Better Option |
|---|---|
| Want a complete bank | Ally (checking + savings + CDs + investing) |
| Need ATM access | Ally (75,000+ fee-free ATMsor Schwab (unlimited rebates) |
| Want savings automation | Ally (Buckets, Surprise Savings) |
| Want a slightly higher base APY | Wealthfront (3.55% base on October 15, 2026) |
| Need a joint savings account | Ally, Discover, or Capital One |
The Bottom Line
Marcus by Goldman Sachs is a specialist, not a generalist. It does one thing exceptionally well: pays a competitive rate on your savings with zero fees and Goldman Sachs-level stability behind it. But the lack of checking, investing, and savings tools means Marcus can’t be your only bank. Use it as your savings hub alongside a checking account from Ally, Schwab, or your local bank.
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