Marcus by Goldman Sachs

High Yield Savings

Their award-winning savings account provides a rate that is 4X the national average, is easy to set up, and offers convenient 24/7 account access online or via the Marcus app - all backed by the financial expertise of Goldman Sachs.

Investment risk

Low

Min investment

Target return

0.50%

Fees

Overview

Marcus provides you with the high yield online savings account that you deserve. Their award-winning savings account provides a rate that is about 4X the national average, is easy to set up, and offers convenient 24/7 account access online or via the Marcus app - all backed by the financial expertise of Goldman Sachs. You can earn 0.50% APY with no fees or minimum deposit.

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Why Invest

Interest compounded daily
No minimums, no monthly fees
Easily set up recurring deposits

How you make money

Deposit your money into the high yield savings account and start earning 0.50% APY. The interest is compounded daily and credited monthly to your account. Interest is calculated using the daily balance method. This method applies a daily periodic rate to the principal and interest that has accrued in the account each day. This means that the interest from your account is calculated every day on a 365-day year/ 366-day for leap years.

How Marcus by Goldman Sachs makes money

There are no fees to use the Marcus High Yield Savings Account. As a bank, Goldman Sachs makes money through the interest they make on loans and other banking fees.

Is it Safe?

Marcus savings accounts are provided by Goldman Sachs Bank USA. Goldman Sachs Bank USA is an FDIC member, which means that funds deposited in Marcus savings accounts are insured up to the maximum allowed by law, which is currently $250,000 for all your individually-owned accounts combined, $250,000 per owner for all your jointly-owned accounts, and $250,000 per beneficiary for accounts with payable-on-death (POD) designations.

Things to know

You make money onInterest
Fees0%
Payout frequencyMonthly
Term of investmentZero
LiquidityEasy
Open toAll Investors

Company

Country availabilityUS only
Assets under managementUnknown
Established2016
Mobile ApplicationIOS, Android

Investment Return Calculator

Calculate your estimated return to reach your investment goals.

Investment amount

Target return

Term

years

Annual fees

Additional contributions

Frequency

Amount invested

$7,000

Total fees

Value after fees

$7,115.85

Any references to past performance, regarding financial markets or otherwise, do not indicate or guarantee future results.

Forward-looking statements, including without limitations investment outcomes and projections, are hypothetical and educational in nature. The results of any hypothetical projections can and may differ from actual investment results had the strategies been deployed in actual securities accounts.