Today's Marcus by Goldman Sachs Savings Rates: Earn 4.50% APY (2024)

Personal Finance Banking Savings

Written by Jean Folger; edited by Sophia Acevedo, CEPF; reviewed by Evelyn He



  • Marcus Savings Rates
  • Pros and Cons
  • How Marcus Savings Rates Compare
  • Why You Should Trust Us
Today's Marcus by Goldman Sachs Savings Rates: Earn 4.50% APY (1) Today's Marcus by Goldman Sachs Savings Rates: Earn 4.50% APY (2)

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Marcus High Yield Online Savings Account

Start saving

Marcus, FDIC Insured

Insider’s Rating



no monthly service fee

Annual Percentage Yield (APY)


Minimum Opening Deposit



  • Competitive APY
  • Easy-to-use mobile app
  • No required initial deposit or minimum account balance
  • No monthly service fee
  • Can make same-day transfers of up to $100,000 to/from banks


  • No digital check deposit
  • No physical branch locations
  • Maximum balance limit of $1 million

Product Details

  • No fees and no minimum deposit
  • Link other bank accounts for incoming and outgoing transfers
  • US-based contact center open 7 days a week
  • FDIC insured

Marcus Bank (Member FDIC) offers a much better savings account rate than you'll find at a traditional bank. With fewer overhead costs than brick-and-mortar banks, online banks can pass savings on to customers through higher rates and lower fees.

The best online banks (Marcus included) offer low or zero fees and APYs well above the average savings rate.

Marcus Savings Rates

Marcus is an online bank that offers a high-yield savings account through Wall Street titan Goldman Sachs. The Marcus High Yield Online Savings Account pays a competitive 4.50% APY, which is significantly higher than the average savings account interest rate.

There is no monthly service fee or any minimum deposit requirements, and you can earn the rate on any account balance of up to $1 million. Just remember that FDIC insurance only protects up to $250,000 per depositor, per account type.

Marcus Savings Rates Pros and Cons

  • Competitive APY

  • Interest compounds daily

  • Zero fees

  • $0 minimum deposit

  • Same-day online transfers of $100,000 or less to/from external accounts

  • 24/7 customer service

  • User-friendly mobile app

  • Doesn't come with a debit or ATM card, and there isn't a checking account
  • Doesn't offer mobile check deposit
  • No physical branch locations
  • Maximum account balance of $1 million

How Marcus Savings Rates Compare

Marcus Online Savings vs. Ally Savings

With a 4.25% APY, the Ally Savings Account pays slightly less than the Marcus savings account. But the difference is so small that choosing Ally might only mean earning a few dollars less per year, depending on your account balance.

Interest compounds daily on both accounts, and there are no monthly bank maintenance fees, minimum deposit requirements, or excess transaction fees (some banks charge a per-transaction fee of about $10 if you make more than six withdrawals per month). You can access your funds at either bank via ACH transfer, wire transfer, telephone transfer, and check requests, and customer service is available 24/7.

One notable difference is that Marcus doesn't offer mobile check deposits. With Ally, you can deposit checks using the bank's mobile app and your smartphone's camera or by scanning and uploading your checks through online banking — with a limit of $50,000 per day or $250,000 every 30 calendar days (a generous limit compared to many competitors).

Both banks offer some of the best CD rates, but only Ally offers checking accounts and money market accounts.

Ultimately, you can't go wrong with either bank if earning a competitive APY is your primary concern. However, if you want mobile check deposit or the option to have more account types under one roof, Ally is the clear winner.

Ally Bank Review

Marcus Online Savings vs. Synchrony High-Yield Savings

Marcus and Synchrony offer similar rates and fees. The Synchrony High Yield Savings Account pays a 4.75% APY, which is a little higher than what Marcus pays. Interest compounds daily on both accounts, and neither has monthly service fees, excess transaction fees, or minimum deposits to open an account.

Where the two banks differ is how you manage the account. The Synchrony account comes with an ATM card (a perk not offered by many savings accounts) and robust mobile banking tools, including mobile check deposits. Marcus doesn't offer an ATM card or mobile check deposit, so you have to transfer funds to an external bank account to withdraw cash.

Still, Marcus offers a suite of tools and trackers called Marcus Insights that brings your financial accounts together with personalized insights aimed at helping you make better financial decisions.

You may prefer Marcus if you prioritize tools for tracking your cash flow and spending or want flexible transfer limits. Otherwise, Synchrony comes out ahead with a slightly higher APY and more ways to access your cash.

Synchrony Bank Review

Why You Should Trust Us: How We Reviewed Marcus Online Savings

We rated the Marcus Online Savings Account using Business Insider's bank account methodology, using a scale of 0 to 5 stars. We consider minimum deposits, monthly service fees, interest rates, customer support, mobile apps, and ethics for savings accounts.

Jean Folger has 15+ years of experience as a financial writer covering real estate, investing, active trading, retirement planning, and retiring abroad. She is co-founder of PowerZone Trading, a company that has provided programming, consulting, and strategy development services to active traders and investors since 2004. Previously, Jean was a real estate broker, an English teacher, and a trip leader for an adventure travel company.

Today's Marcus by Goldman Sachs Savings Rates: Earn 4.50% APY (4)

Evelyn He

Compliance and Operations Associate

Evelyn He is a compliance and operations associate at Business Insider who supports the Personal Finance Insider team. Personal Finance Insider is Business Insider's personal finance section that incorporates affiliate and commerce partnerships into the news, insights, and advice about money that Business Insider readers already know and love.The compliance team's mission is to provide readers with stories that are fact-checked and current, so they can make informed financial decisions. The team also works to minimize risk for partners by making sure language is clear, precise, and fully compliant with regulatory and partner marketing guidelines that align with the editorial team.Before joining Business Insider, she served in various legal and compliance roles in different industries, including the legal and pharmaceutical industries.Evelyn obtained her M.S. degree in Marketing at Boston University in 2022. Prior to combining and consolidating her knowledge of law and business, she spent one year finishing 1L courses at Suffolk University Law School to further her legal knowledge. She has also completed MBA business law courses while working on her Bachelor of Business Administration in Management at the University of Massachusetts, Amherst.Outside of work, she enjoys spending time with her 15-year-old Shih Tzu named Money, and her 5-year-old Bichon named Tibber.

Top Offers From Our Partners

Today's Marcus by Goldman Sachs Savings Rates: Earn 4.50% APY (5)

Capital One 360 Performance Savings Annual Percentage Yield (APY): 4.35% Minimum Deposit Amount: $0

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Today's Marcus by Goldman Sachs Savings Rates: Earn 4.50% APY (2024)
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