Marcus by Goldman Sachs certificate of deposit review

Would you like to learn about all the features of the Marcus by Goldman Sachs certificate of deposit? Responsible Economy provides you with comprehensive information, including fees, interest rates, requirements, and everything you need to know. We also offer a video and a comparison with the best certificates of deposit in 2023. Welcome!

Explicative video

We have created a video that provides a straightforward explanation of all the features of the Marcus by Goldman Sachs certificate of deposit. If you would like to support us, you can subscribe to our channel and receive daily updates and information as well. Thank you for your support!

Features

In this section, we provide you with all the characteristics of the Marcus by Goldman Sachs certificates of deposit:

Fees

There are no monthly commissions. You can open a Marcus by Goldman Sachs CD without paying any fees.

Yield

The interest rate you can earn with this certificate of deposit depends on the term you choose. The highest interest rate is 4.85% for a 12-month term. This rate is one of the highest yields available in the United States. Here’s a table showing the various terms and their corresponding interest rates:

• 6 months: 4.90% APY
• 9 months: 5.00% APY
• 12 months: 5.10% APY
• 18 months: 5.00% APY
• 24 months: 4.40% APY
• 36 months: 4.30% APY
• 48 months: 4.00% APY
• 60 months: 3.80% APY
• 72 months: 3.70% APY

Minimum deposit

To open this deposit, a minimum deposit of $500 is required. This amount is relatively low, although there are also other deposits available with no minimum requirement.

Terms

As mentioned earlier, you can open this deposit with a minimum term of 6 months and a maximum term of 6 years.

Summary table

Here you have a summary table with all features:

Features	Description
Fees	No monthly commissions
Yield	3.70%-4.85% OPY
Minimum Deposit	$500 minimum deposit
Terms	6 months-72 months

Comparison with the best CDs en 2023

We have made a comparison with the best certificates of deposit you can open in 2023:

Certificate of deposit calculator

We have created a deposit calculator for you to see the interest generated and the total earnings:

Requirements

The requirements to open Goldman Sachs CDs are as follows:

• Age: You must be over 18 years old.
• Residence: You need to live in the United States.
• Minimum Deposit: A minimum deposit of $500 is required at the time of account opening.

Cons

Here is a list with all the advantages:

• It has no commissions
• Just open the CD with $500
• Very high interest rates
• Terms from 6 months to 6 years

Cons

The only downside to the Marcus by Goldman Sachs CD is that there are banks that offer higher yields.

Frequent questions

Now we answer all the questions you may have:

Other Marcus by Goldman Sachs products

Marcus by Goldman Sachs savings account offers a very high interest rate.

Conclusion

After conducting the review, our conclusion is that Marcus by Goldman Sachs certificate of deposit is one of the best CDs in the United States. It offers a maximum interest rate of 5.10% APY, and the minimum initial deposit required is only $500.

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Updated the day 2 October, 2023 by Alfredo Barandiarán