Marcus by Goldman Sachs

Marcus by Goldman Sachs is the consumer banking arm of Goldman Sachs, launched in 2016 and named after the firm's founder Marcus Goldman. Unlike its private-wealth and investment-banking businesses, Marcus is designed for everyday savers — no minimum balance requirements, no monthly fees, and access to one of the most competitive yields in the online savings category. The account is FDIC-insured up to $250,000 per depositor.

The savings account operates as a pure yield vehicle: there's no checking feature, no ATM card, and no cash deposit options. Transfers to and from external bank accounts typically settle within 1–3 business days. Marcus also offers no-penalty CDs, traditional CDs, and personal loans as complementary products, along with a higher-yield referral account structure. For most savers, the simplicity is the point — a single high-yield account for emergency funds, short-term savings goals, or cash reserves sitting between larger investment moves.