Marcus by Goldman Sachs Online Savings Account pays one of the highest APYs at 4.10% APY. But that’s not all this online account offers.
Beyond its competitive APY, the Marcus by Goldman Sachs Online Savings Account offers savers additional perks such as:
- No minimum balance requirements
- No monthly maintenance fees
- Top notch, U.S.-based customer service
Think this savings account might be right for you? Check out the full review below to help decide if a Marcus by Goldman Sachs Online Savings Account is the right fit for your saving needs.
Marcus by Goldman Sachs Online Savings Account
Goldman Sachs Bank USA.
Member FDIC.
Rating image, 4.75 out of 5 stars.
4.75/5
Our ratings are based on a 5 star scale.
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4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
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Rating image, 4.75 out of 5 stars.
4.75/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Best
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APY
4.10%
Min. To Earn APY
$0
- Competitive APY
- No monthly account fee
- Comfort of a well-known brand and reputation
- Unlimited number of external transfers (up to daily transaction limits)
- 24/7 customer support
- FDIC insured
- Same-day ACH transfers up to $100,000
- Free wire transfers
- No ATM access
- No branch access; online only
- Maximum account limit of $1,000,000
Marcus by Goldman Sachs Online Savings Account has a laundry list of features like a top-tier APY, no minimum balance hassle, FDIC insurance, and unlimited withdrawals. All the benefits of this premier account make it one of our favorites. Keep in mind Marcus is online-only with no ATMs or branches. If direct deposit is your game plan, then Marcus may be a great way to kickstart your savings.
Compare savings rates
Make sure you're getting the best account for you by comparing savings rates and promotions. Here are some of our favorite high-yield savings accounts to consider.
| Account | APY | Promotion | Next Steps |
|---|---|---|---|
Open Account for American Express® High Yield Savings
On American Express's Secure Website.
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
3.80%
Rate info
3.80% annual percentage yield as of December 28, 2024. Terms apply.
Min. to earn: $0
|
N/A
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Open Account for American Express® High Yield Savings
On American Express's Secure Website. |
Open Account for SoFi Checking and Savings
On SoFi's Secure Website.
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
up to 4.00%²
Rate info
You can earn the maximum APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.
Min. to earn: $0
|
New customers can earn up to a $300 bonus with qualifying direct deposits!¹
|
Open Account for SoFi Checking and Savings
On SoFi's Secure Website. |
Open Account for Capital One 360 Performance Savings
On Capital One's Secure Website.
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
3.80%
Rate info
See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of Dec. 6, 2024. Rates are subject to change at any time before or after account opening.
Min. to earn: $0
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N/A
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Open Account for Capital One 360 Performance Savings
On Capital One's Secure Website. |
Top 5 reasons to open an account
4.10% APY: Marcus by Goldman Sachs Online Savings Account's annual percentage yield (APY) is much higher than you'll find at most brick-and-mortar banks and even some online banks. That places it among the best savings account rates we've seen.
No minimum balance requirement: Marcus by Goldman Sachs doesn't have a minimum balance or minimum opening deposit requirement in order to earn the stated interest rate. You can open an account and fund it at any time within the first 60 days. However, if you wait longer than this, the bank may close your account.
No monthly maintenance fee: There's also no monthly maintenance fee (or any other fees to speak of), which is a common consumer pain point when it comes to traditional bank savings accounts. However, if you link an external bank account, Marcus has no control over whether that bank charges fees for transfers.
Top-notch customer service: Marcus doesn't use an automated phone system during business hours and has U.S.-based customer support. In other words, if you call during the company's business hours, your call will be answered by a real, live person in the U.S..
FDIC insured: Marcus by Goldman Sachs Online Savings Account funds are covered by the same FDIC insurance as traditional savings accounts. This covers you for as much as $250,000 per depositor, per institution, in the event of a bank failure.
How to access your money
The Marcus by Goldman Sachs Online Savings Account gives you the following ways to fund your account and withdraw money as needed.
Deposit options
You can deposit funds in any of these ways:
- Electronic funds transfer
- Direct deposit
- Wire transfer
- Mailed check
Mailed checks, electronic transfers, direct deposits, and incoming wires are free, though you're naturally responsible for the cost of a stamp and envelope for snail mail. Notably absent are mobile check deposit capabilities, which is an important consideration as you search for your ideal savings account.
Withdrawal options
You can move funds out of your Marcus by Goldman Sachs Online Savings Account in either of these ways:
- Electronic transfer
- Wire transfer
This savings account could be right for you if...
If you'd like to minimize your fees while maximizing your interest, it's hard to beat the Marcus by Goldman Sachs Online Savings Account. But remember, if you care about being able to visit a branch, deposit checks through a mobile app, or use an ATM to withdraw cash, having another account to also accomplish those things could be the right move.
For me, the high APY, low fees, and strong customer support made opening an account at Marcus an easy decision, and I haven't regretted it.
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