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Marcus CD Rates: February 2025

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Marcus offers competitive CD rates with terms from 6 to 72 months

Fact checked by Michael Rosenston

10'000 Hours / Getty Images

10’000 Hours / Getty Images

Marcus’ high-yield CDs come with competitive rates on all terms, with the highest APY of 4.30% offered on a 12-month term. The APYs on its No-Penalty CD are lower, but this CD type gives you the option of withdrawing your money early without penalty. Finally, Marcus’ Rate Bump CD only comes with one term of 20 months, but it gives you the option to upgrade your rate once if rates increase during your term.

Compare Marcus CDs some of the best high-yield CDs.

Marcus High-Yield CD Overview

In addition to its high-yield CDs, Marcus offers two other CD types: a no-penalty CD and a rate bump CD.

  • No-penalty CD: Terms for a no-penalty CD are 7 months, 11 months, and 13 months. The minimum deposit is $500 and the APR is 4.00%.
  • Rate bump: The rate bump CD is a 20-month CD with a minimum deposit of $500 and an APY of 3.90%.

Marcus CD Rates: Key Features

  • Marcus no-penalty CD key features: An APY of 4.00%, a minimum balance of $500, term range of 7–13 months, and no early withdrawal fee.
  • Rate bump CD key features: An APY of 3.90%, a minimum balance of $500, a term of 20 months, an early withdrawal fee of 90 days interest on terms less than 1 year 180 days interest on terms of 1–5 years 270 days interest on terms more than 5 years (with a grace period of 10 days). This CD lets you upgrade your rate once if Marcus raises the rates on its 20-month CDs during your term. 

Compare Marcus CD Rates

Marcus CDs offer competitive rates on its CDs and a range of CD options and types. You can likely find a CD that meets your needs with Marcus, but you may also find higher rates by shopping around and reviewing other CDs rates and terms.

Pros and Cons of Marcus CDs

Pros

  • Competitive CD rates

  • A range of CD terms

  • Rate bump option

Cons

  • No branch locations

Pros Explained

  • Competitive CD rates: Marcus offers rates on its CDs that are higher than rates on many others.
  • A range of CD terms: Marcus CD terms range from 6 months to 72 months, giving you flexibility. Marcus also offers three CD types: a high-yield CD, a no-penalty CD, and a rate bump CD. 
  • Rate bump option: With a 20-month Marcus CD, you have the option to increase your CD rate once in its term if broader interest rates rise.

Cons Explained

  • No branch locations: Marcus by Goldman is an online bank, so if you want in-person service you should consider CDs from another financial institution.

About Marcus

Marcus by Goldman Sachs is an online bank that offers a variety of accounts, including three types of CDs: a high-yield CD, a no-penalty CD, and a rate bump CD. 

Marcus customers can also open a high-yield savings account or credit card, including either a rewards card, business card, or family credit card.

The Marcus No-Penalty CD doesn’t charge an early withdrawal penalty, but you must wait seven or more days from your opening deposit to make a withdrawal.

Alternatives to Marcus CDs

  • High-yield savings accounts: If you’re willing to open an online savings account elsewhere, you may be able to earn higher rates than what Marcus CDs offer. See the best high-yield savings account rates to compare how much you could earn.
  • High-yield checking accounts: You may find relatively high rates with some checking accounts. Be aware of their requirements and limits. The best high-interest checking accounts give you easy access to your money.
  • Certificates of deposit (CDs): Marcus competitive rates on its CDs. You can also choose from a range of CDs from other financial institutions.
  • Money market account: Money market account can also provide a return on your savings. Check the best money market account rates to see how it compares.
  • Treasury securities: These government-backed bills, notes, and bonds sometimes offer even higher rates than CDs and may be more liquid. 

Frequently Asked Questions (FAQs)

Are Marcus CDs FDIC-Insured?

Yes, Marcus CDs are FDIC-insured. Provided by Goldman Sachs Bank USA, an FDIC member, Marcus CDs are FDIC-insured for up to $250,000.

What Is the Early Withdrawal Penalty for Marcus CDs?

The early withdrawal penalty on Marcus CDs varies depending on the CD’s term length. The penalty is 90 days of interest on terms less than one year, 180 days of interest on terms of one to five years, and 270 days of interest on terms more than five years. 

What Is the Minimum Opening Deposit for Marcus CDs?

The minimum opening deposit for Marcus CDs is $500. This minimum deposit applies to all three CD types that Marcus offers: high-yield CDs, no-penalty CDs, and rate bump CDs.

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