Marcus by Goldman Sachs vs. Capital One: Which Bank Is Right for You?
Review
Updated
If you're on a Galaxy Fold, consider unfolding your phone or viewing it in full screen to best optimize your experience.
Bottom line: Capital One has no minimum deposits on its CDs and a free checking account, while Marcus by Goldman Sachs ranks higher for customer service.
Marcus is an online banking platform that offers savings accounts, CDs, and personal loans. Launched in 2016 by popular global investment bank, Goldman Sachs, Marcus aims to take a customer-focused approach with products that are accessible and easy to understand.
Capital One started life as a credit card company in 1988, and is still well-known for its cards. Now it offers a range of financial products, including checking and savings accounts, CDs, loans, and business accounts. It believes nobody should be locked out of the financial system.
| Offer |
|
|
|---|---|---|
| Account |
Capital One 360 Performance Savings
On Capital One's Secure Website. |
|
| Rating |
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 |
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.
= Best
= Excellent
= Good
= Fair = Poor |
| APY | 3.70% Rate info See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of Feb. 6, 2025. Rates are subject to change at any time before or after account opening. | 3.90% |
| Min. to earn APY | $0 | $0 |
| Next Steps |
|
Marcus by Goldman Sachs and Capital One offer high-yield savings accounts -- the Marcus by Goldman Sachs Online Savings Account and the Capital One 360 Performance Savings. Both accounts have no monthly fees and no minimum deposit or balance requirements.
The Marcus by Goldman Sachs Online Savings Account has a slightly higher APY -- 3.90% versus the 3.70% offered by Capital One. For its part, the Capital One 360 Performance Savings allows you to deposit checks through its app, while Marcus does not currently support this feature.
| Offer |
|
|
|---|---|---|
| Account | ||
| Rating |
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 |
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 |
| APY | 0.10% | 0.10% |
| Min. to earn APY | $0 | $0 |
| Next Steps |
|
|
At this time, Marcus doesn't offer a checking account, which is a bummer if you want all your accounts in one place. Capital One, however, offers the Capital One 360 Checking, which has no monthly fees and no deposit or balance requirements.
Even better, the account earns a small amount of APY (0.10%), which, true, doesn't compete with the best interest-earning accounts but is still a rarity among free checking accounts. It also offers a checking account for teens.
APY = Annual Percentage Yield
| Offer |
|
|
|---|---|---|
| Account | Marcus by Goldman Sachs High Yield CD | Capital One 360 CD |
| 6 Mo. | 4.20% | 3.80% |
| 9 Mo. | 4.30% | 3.80% |
| 1 Yr. | 4.25% | 4.00% |
| 1.5 Yr. | 4.10% | 3.70% |
| 2 Yr. | 4.10% | 3.50% |
| 30 Mo. | -- | 3.50% |
| 3 Yr. | 4.00% | 3.50% |
| 4 Yr. | 3.75% | 3.50% |
| 5 Yr. | 3.75% | 3.50% |
| 6 Yr. | 3.75% | -- |
| Min. Deposit | $500 | $0 |
| Early Withdrawal Penalty | Yes | Yes |
| Next Steps |
|
|
Looking at CDs, Capital One and Marcus have several terms to offer, plus decent APYs and low minimum opening deposits.
Marcus CDs come in 10 terms, ranging from six months to six years, with a $500 minimum for each CD. It also has a unique 10-day CD rate guarantee, which will automatically raise your CD rate if ongoing rates go up, so long as you deposited the minimum $500 within the same period of time.
Capital One 360 CDs come in 12 terms, ranging from six months to 5 years, and require no minimum deposits. That's rare for a big bank, especially since CDs are usually used to draw in large deposits from clients. You'll also find some decent CD rates at Capital One.
Marcus has a slightly better APY on its savings account. The rates on both banks' savings accounts are decent, but they're not better than the top high-yield savings accounts.
When it comes to CDs, both banks have similar offerings, though Marcus comes out on top for quite a few terms. That said, the two banks have similar offerings across a few terms.
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 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 3.80%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 CIT Platinum Savings
On CIT'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 |
4.10% APY for balances of $5,000 or more
Rate info
4.10% APY for balances of $5,000 or more; otherwise, 0.25% APY
Min. to earn: $100 to open account, $5,000+ for max APY
|
Earn a bonus of at least $225 after a one-time deposit of $25,000+.
Transfer a one-time deposit of $25,000-$49,999.99 for a bonus of $225. Transfer a one-time deposit of $50,000+ for a bonus of $300. Account must be opened with code PS2025 while this promotion lasts, and funded within 30 days. Bonus will be fulfilled within 60 days from the funding date. There is no period of time where the customer will be required to maintain the funds. Account must be open when bonus is credited. One bonus per account and primary customer. Bonus will be credited into the Platinum Savings Account that fulfills the funding requirement. Funding can be deposited all at once or incrementally.
|
Open Account for CIT Platinum Savings
On CIT's Secure Website. |
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 |
3.70%
Rate info
3.70% annual percentage yield as of April 5, 2025. Terms apply.
Min. to earn: $0
|
N/A
|
Open Account for American Express® High Yield Savings
On American Express's Secure Website. |
SoFi disclosure:
¹ New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/26. See full bonus and annual percentage yield (APY) terms at sofi.com/banking#1.
² SoFi members who enroll in SoFi Plus with Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi Plus members are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.
³ We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at sofi.com/legal/banking-fees/.
⁴ SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations.
Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.
⁵ We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.
⁶ Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
⁷ Overdraft Coverage is limited to $50 on debit card purchases only and is an account benefit available to customers with direct deposits of $1,000 or more during the current 30-day Evaluation Period as determined by SoFi Bank, N.A. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the“30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage.
Based on third-party reviews and studies, Marcus frequently ranks higher than Capital One in customer satisfaction.
For example, Marcus ranked higher than Capital One on the J.D. Power 2023 U.S. Direct Banking Satisfaction Study. While Marcus was second with a score of 736, Capital One was seventh with a score of 708.
What's more, Capital One ranked below the study average (718). That said, in the J.D.Power 2023 U.S. National Banking Satisfaction Study, Capital One has ranked first among national banks four years in a row.
Both banks are BBB accredited and have A+ rating. Neither has a great rating on Trustpilot, with Marcus getting 2.7 stars and Capital One 1.3 stars.
| Marcus | Capital One | |
|---|---|---|
| Customer service availability |
Online and mobile app chat Phone (24/7) |
Online and mobile app chat Phone (8 a.m. to 11 p.m. EST) In person (branch) |
| Physical branch locations | None | Over 260 |
Capital One lets you see all your Capital One accounts in one place (including credit cards and loans), monitor your credit, make transfers, redeem rewards, deposit checks, and pay bills.
For its part, the Marcus app can sync thousands of external accounts to give you a big-picture view of your finances. As you sync more bank accounts, Marcus can give you more personalized insights into your spending. Unfortunately, the app doesn't currently support mobile check deposits.
| Marcus | Capital One | |
|---|---|---|
| App Store rating | 4.9 | 4.9 |
| Google Play rating | 4.2 | 4.3 |
Capital One might be right for you if you're looking for a hybrid between online banking and in-person support, as it does have some brick-and-mortar locations. Likewise, it could be fitting if you want to open a checking account, as Marcus doesn't currently have one.
On the flip side, Marcus might be right if you want a slightly higher APY on your savings account.
On Capital One's Secure Website.
Member FDIC.
2025 Award Winner
Capital One 360 Performance Savings
On Capital One's Secure Website.
On Capital One's Secure Website.
Capital One 360 Performance Savings checks all the boxes we look for in a high-yield savings account. It even offers branch locations and Capital One Cafes where customers can seek in-person support (if you live near one). This makes it a great fit when you want to reap the rewards of online banking but aren't quite ready to cut ties with brick-and-mortar banks.
Marcus by Goldman Sachs Online Savings Account
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.
Our methodology for scoring banks and credit unions revolves around evaluating key aspects such as annual percentage yield (APY), brand reputation, fees and minimum requirements, and additional perks.
These criteria are weighted differently across various account types, ensuring a comprehensive assessment that reflects the competitive landscape and economic conditions.
We strictly feature products that offer federal insurance and high customer satisfaction, keeping our recommendations unbiased by advertiser influence. This robust evaluation process helps us generate balanced, reliable best-of lists that guide consumers to top financial products.
Learn more about how Motley Fool Money rates bank accounts.
Marcus is well suited for those who don't need a checking account and want a savings account with a decent APY. It might also be right for those who value customer service experiences, as it frequently ranks high for customer support.
Capital One is right for those who want all their accounts at one financial institution. It might also be great for those who live near a Capital One Cafe and want to mix their online-only accounts with some in-person support.
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Motley Fool Money does not cover all offers on the market. Motley Fool Money is 100% owned and operated by The Motley Fool. Our knowledgeable team of personal finance editors and analysts are employed by The Motley Fool and held to the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands. Terms may apply to offers listed on this page. APYs are subject to change at any time without notice.
