bank rates

Marcus Offers Top CD Rates Across The Board

Marcus cd ratesIf you’re in the market for a CD, short-term or long, Marcus by Goldman Sachs is offering some great options. Indeed, it’s at the head of the pack, paying close to the top rate on nearly every term.

It helps that the bank continuously hikes all of its rates to compete with other CD leaders.

And in fact, we’ve seen hefty increases overall on nearly all terms this month, giving us hope that CD returns are finally heading back to a place where they’ll be valuable for savers.

But we’re not quite there yet. The average 5-year CD pays just 1.36% APY.

Fortunately, Marcus is offering more than twice that average on 5-years — 3.10% APY with a $500 minimum.

Of course, it’s always crucial to compare the best CD rates before you purchase.

Here are Marcus’ CD Rates for Five Terms:

Marcus CD Rates
Term Rate Minimum
1-year 2.55% APY $500
2-year 2.60% APY $500
3-year 2.65% APY $500
4-year 2.70% APY $500
5-year 3.10% APY $500

Requirements to open

You can open up a Marcus CD online. You’ll need your Social Security Number, date of birth and valid US street address. You can transfer funds online or by check via snail mail.

In addition to the minimum deposit requirements, you’ll need to keep the CD through the full term to earn the APY. If you decide to withdraw early, you may get hit with a penalty.

The future of CDs

While the Fed rate hikes have pushed some banks to increase their rates, not all will be so quick to react. That makes it crucial to keep an eye out for CDs at banks like Marcus that are already on the rise.

Make sure to check out the best CD rates daily.

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