Marcus by Goldman Sachs Bank Review 2025
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At a glance
CDs
Savings
About Bankrate Score
Overview
Marcus by Goldman Sachs is an online bank that rewards savers with higher-than-average rates. There are no monthly service fees charged by Marcus on their savings account or certificates of deposit (CDs). Moreover, opening deposit requirements are zero or small, making accounts easily accessible. But as an online-only bank, consumers will need to be comfortable solely banking online.
Highlights
- High APY
- Top CD Rates
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
These are sponsored offers rated highly by us for competitive rates, fees, and minimums.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate CD rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.4/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Overall
Marcus by Goldman Sachs is an online bank that rewards savers with higher-than-average rates and few fees. Without a debit card or ATM access, the bank’s accounts are geared towards customers looking to store their cash and watch it grow. For everyday accounts you can regularly transact from, including a checking account, you’ll want to look elsewhere.
Pros
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Marcus offers competitive interest rates for all of its products.
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The balance requirements for CDs are relatively low.
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Savings accounts don’t have a minimum balance requirement or monthly service fee.
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A customer service line provides 24/7 account access. You can also chat with representatives at any time.
Cons
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Marcus offers a limited selection of financial products.
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Marcus does not offer debit or ATM cards, making it more difficult to access your funds.
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Deposits must be made via electronic transfer or automated deposits; mobile check deposit is unavailable.
Marcus bank products
Marcus Online Savings Account
Pros
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Marcus offers a competitive yield on its savings account.
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The account requires no minimum deposit to open.
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There are no monthly fees.
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Marcus doesn’t charge for wire transfers.
Cons
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Mobile check deposit is not offered; all deposits must be transferred or automated.
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There is no branch or ATM access.
Rate history for Marcus's Savings account
See how rates for this account have changed over time. Interact with the trend lines to view APY by date.
Marcus High-yield Certificates of Deposit
Pros
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Rates across terms are generally top-tier.
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Marcus offers terms of no-penalty CDs.
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A bump-up CD option is available.
Cons
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Some banks offer CDs without a minimum deposit requirement.
Rate history for Marcus's CD accounts
See how rates for this account have changed over time. Select the CD term length from the dropdown and interact with the trend lines to view APY by date.
How Marcus compares to other banks
Compare different account types offered by Marcus. Annual percentage yields (APYs) shown were updated between Jan. 11, 2025 and Jan. 17, 2025.
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Selected bank
Marcus by Goldman Sachs savings account
Bankrate score
4.2
Bankrate Savings rating = 4.2/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
Most comparable
Ally Bank savings account
Bankrate score
4.4
Bankrate Savings rating = 4.4/5 Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
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Bankrate score
Bankrate Savings rating Bankrate scores are objectively determined by our editorial team. Annual percentage yields (APYs), minimum opening deposit requirements and minimum balances to avoid monthly service fees are some of the things that make up Bankrate’s score. |
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APY
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest. APYs last updated between Jan. 11, 2025 and Jan. 17, 2025.
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| 3.90% | 3.80% | |
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Minimum balance for APY
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| $0.00 | $0.00 | |
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Estimated earnings
Interest earned calculation based on a $50,000 deposit amount for a period of 1 year and is rounded to the nearest dollar. Exact earnings are dependent on calendar year, balance, and compounding frequency. Minimum deposit rules may apply.
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| $1,950 | $1,900 | |
| Marcus by Goldman Sachs offers a highly competitive yield on its savings account for all balances. With no fees and no minimum deposit, Marcus is a good option for savers who are comfortable with banking exclusively online. | Ally Bank consistently offers a competitive yield on its Online Savings Account. The online bank doesn’t have the absolute highest yield, but it offers a competitive one and doesn’t have a minimum balance requirement or a monthly service fee. The bank offers mobile deposit, but you’ll need to transfer money to the Ally checking account or money market account if you want to access money in your savings from an ATM. | |
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N/A
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APY offering:
3.90%
4/5
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest.
Minimum balance for APY:
$0.00
5/5
The lowest deposit amount an account must have before it can earn interest.
Monthly service fee:
$0.00
5/5
A monthly charge a financial institution deducts from an account if certain requirements are not met.
Minimum balance to avoid fee:
$0.00
5/5
The lowest balance an account must maintain in order to avoid a fee.
Access to funds:
Subpar
2/5
A procedure that allows an individual or organization to access and manage the funds of another account holder.
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APY offering:
3.80%
4/5
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest.
Minimum balance for APY:
$0.00
5/5
The lowest deposit amount an account must have before it can earn interest.
Monthly service fee:
$0.00
5/5
A monthly charge a financial institution deducts from an account if certain requirements are not met.
Minimum balance to avoid fee:
$0.00
5/5
The lowest balance an account must maintain in order to avoid a fee.
Access to funds:
Good
4/5
A procedure that allows an individual or organization to access and manage the funds of another account holder.
|
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY includes the effects of compounding interest.
The lowest deposit amount an account must have before it can earn interest.
A monthly charge a financial institution deducts from an account if certain requirements are not met.
The lowest balance an account must maintain in order to avoid a fee.
A procedure that allows an individual or organization to access and manage the funds of another account holder.
Bankrate does not currently track additional product details for this bank.
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Bank fees
| Fee | Charged? | |
|---|---|---|
| Overdraft fee | None | |
| Non-sufficient funds fee | None | |
| Monthly maintenance fee | None | |
| Out-of-network ATM fee | N/A | |
| Excessive transaction fee | None |
Customer experience
Customer support
24/7 support is available. Although Marcus doesn’t have branches or ATM access, customers with CDs or a savings account can speak with a representative through live chat or over the phone 24 hours a day, seven days a week.
High Customer Satisfaction. Marcus by Goldman Sachs ranked first in J.D. Power’s 2024 Direct Banking Satisfaction Study among online-only banks offering savings products.
Digital experience
Highly rated mobile app. Marcus’s mobile app has a high rating on both the Apple App and Google Play stores. Collectively, almost 200,000 users have reviewed the app. The Marcus app does not support mobile check deposits, however, so all deposits must be electronically transferred.
Robust help center. Marcus’s Help Center maintains an extensive collection of FAQs, which can help current and prospective customers get answers without needing to connect with a representative. Topics are broken down by banking product, ranging from deposit accounts to credit cards.
The above images were last updated on October 31, 2024.
Bankrate staff insight
"Overall the APY is a competitive rate and the ease of use of the app is a big plus," said a Bankrate staff member who uses the account personally. "I am confident in the rate I have, and I can clearly see how much I am saving using this account through the app."
Disclosure: To enhance our product reviews, Bankrate employees often open accounts and provide feedback. They may have been compensated for their time and account maintenance, but this does not affect the integrity of their review.
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Review methodology
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.
Marcus customer reviews
Marcus has 25 reviews
Dive into community reviews below and see what others think about Marcus.
In July 2024, Bankrate collaborated with a third-party vendor to survey 1,200 bank account holders nationwide. Bankrate and our vendor collected and summarized account holder responses to five rating questions on a 5-point scale as well as open-ended reviews of the banking experience. Responses are based on individual account holder product details, and therefore cannot be verified for accuracy. Reviewers received an incentive for their feedback. Their ratings are unedited and have not been reviewed or approved by the associated bank or credit union, nor do these responses reflect Bankrate's own expert review of these banking products.
Community Reviews
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