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Marcus by Goldman Sachs Bank Review 2023

Marcus, the digital challenger bank for Goldman Sachs offers competitive rates on saving accounts and CDs.

Marcus by Goldman Sachs Overall |

Marcus by Goldman Sachs is a digital bank offering personal loans, savings accounts, and CDs.


  • Competitive Interest Rates
  • Backed by the financial expertise of Goldman Sachs
  • Low minimum balance and deposit requirements for CDs and savings


  • Completely Digital - No access to branches
  • Limited product offering (just personal loans, savings accounts and CDs)

CD Rates |


Marcus by Goldman Sachs offers both standard CDs and no-penalty CDs with various terms. The minimum deposit on a CD is just $500.

Early withdrawal penalties apply when you withdraw part of the principal balance. You are able to withdrawal without penalty at any time during the CD term. If within 10 days of opening the account, if rates change you will still earn the best yield tied to your CD term.


  • Daily compounding interest rates.
  • Only $500 minimum deposit.
  • Offers CDs that do not have early withdrawal penalties.


  • While these rates are competitive, other online banks pay better rates.
  • Lower yields on no-penalty CDs

Savings Accounts |


Marcus by Goldman Sachs provides competitive rates on its high-yield online savings accounts. The minimum to start an account is only $1. It is the goal of Marcus to keep the APY on savings accounts competitive.


  • No minimum balance to earn APY
  • Competitive yields on its savings account
  • No monthly fees


  • Other online banks offer better higher APYs
  • No debit or ATM cards offered on Marcus savings accounts
  • Maximum limit of $1 million on savings accounts

Bank Features

Marcus launched in January 2020 with an Apple App. Their banking app allows you to access the entirety of your Marcus account data From a single app you can manage your savings accounts, CDs and personal loans. Checking your balances, transferring money, and making loan payments is simple.

For those who are not familiar with mobile or online banking customer support is available 7 days a week.

  • Help from Savings specialists is offered on weekdays from 8 a.m. EST until 10 p.m. (EST) and on weekends from 9 a.m. EST until 7 p.m. (EST).

Bank History

The financial firm founded in 1869 by Marcus Goldman grew into a top level investment bank known as Goldman Sach.

During the financial crisis, Goldman Sachs started buying banks to add to their company portfolio. After acquiring GE Capital Bank, the online deposit bank, Goldman Sachs launched GS Bank, an entirely online bank. Back in 2017 GS Bank became known as "Marcus" offering personal loans, certificates of deposits (CDs), and an online savings accounts.