Marcus Bank CD Rates Review November 2023

Marcus Bank CD Rates: retired couple striping of formal clothes heading towards ocean.

Marcus Bank CD Rates Reviewed

Marcus by Goldman Sachs CD Rates Review - Bank LogoThis guide will review and compare Marcus Bank CD rates to CD rates offered by leading banks and today’s highest guaranteed annuity rates. Marcus by Goldman Sachs CD Rates are competitive but they don’t offer the best rate for any term.

Marcus by Goldman Sachs offers a wide selection of CD terms ranging from 6 months to six years, including three no-penalty CDs (7, 11, and 13 months). Marcus requires a relatively low $500 minimum balance on all of their certificate of deposits.

Marcus Bank CD Rates for May 2023

TermAPYMinimum Deposit
6 months4.25%$500
9 months4.30%$500
10 months*5.05%$500
1 year4.75%$500
18 months4.75%$500
2 years4.35%$500
3 years4.30%$500
4 years4.00%$500
5 years3.80%$500
6 years3.70%$500

Visit Marcus.com to view more Marcus CD Rates.

Marcus Bank High Yield CD Rates

  • Guaranteed Returns
  • Terms from 6 months to 6 years
  • A low $500 minimum deposit
  • 10-Day CD Rate Guarantee

Goldman Sachs Consumer Platform Bleeding Money

Marcus by Goldman Sachs has recently announced will no longer issue personal loans as they attempt to scale back the consumer lending business. 

According to a January 13, Reuters article, Goldman Sachs platform solutions business lost $3 billion in nearly three years.

CDs vs Fixed Annuity

A fixed annuity, often called a CD Type Annuity, is essentially a CD that is issued by an insurance company rather than a bank. The table below compares and contrasts some of the key differences and similarities between the two.

FEATURESFIXED ANNUITYCD
Issued ByInsurance CompaniesBanks
Investment Amount$2,000 - $1,000,000Essentially Any Amount
Investment Term2 years - 10 years3 months - 5 years
Interest Rates (APY)Varies by product.Varies by bank, term and investment amount.
LiquidityUsually, 10% annually or interest earned.Almost always accumulated interest.
GuaranteesBacked by Insurer & State Guaranty Associations.Backed by the FDIC.
Death BenefitMay avoid probate.Probate process required.

Today's Best "CD-Type" Annuity Rates

Fixed annuity rates are guaranteed for a set number of years similar to a certificate of deposit.

TermInsurerRateAnnuity AM BestApplication
2 YearsAMERICO Annuity Logo
AMERICO
5.35%Harbourview 2AApply
3 YearsSecurity Sentinel Life Logo
Sentinel Security
5.90%Personal ChoiceB++Apply
4 YearsNassau Logo
Nassau
5.50%MyAnnuityB++Apply
5 YearsIbexis Annuity Logo
Ibexis
6.30% SimpleMYGA PlusA-Apply
6 Yearsoceeanview logo
Oceanview Life
5.70%Harbourview AApply
7 YearsIbexis Annuity Logo
Ibexis
6.50% SimpleMYGA PlusA-Apply
8 YearsEquitrust Annuity Logo
EquiTrust
5.50%Certainty SelectB++Apply
9 YearsAmerican National Annuity logo
American National
5.30%Palladium MYGAAApply
10 YearsEquitrust Annuity Logo
EquiTrust
5.60%Certainty SelectB++Apply

Today's Top CD Rates

3 Month CD Rates

Best 3-Month CD RatesAPYTermMinimum
Signature Federal Credit Union5.55%3 Months$500
Ponce Bank5.40%3 Months$1
Western Alliance Bank5.41%3 Months$1

Best 1 Year CD Rates

BankRateTermMinimum
All In Credit Union5.85% APY12 Months$100,000
My eBanc5.77% APY12 Months$100,000
State Bank of Texas5.75% APY12 Months$50,000

2 Year CD Rates

BankRateTermMinimum
Luana Savings Bank5.68% APY24 Months$100,000.00
Maple Mark Bank5.40% APY24 Months$25,000.00
Crescent Bank5.35% APY24 Months$1,000.00

3 Year CD Rates

BankAPYTermMinimum
Valley National Bank5.60%36 Months$500
Bread Savings4.95%36 Months$1,500
The State Exchange Bank4.70%36 Months$1

4 Year CD Rates

BankAPYTermMinimum
Bread Savings4.75%48 Months$1
The State Exchange Bank4.50%48 Months$1
Barclays4.45%48 Months$1

5 Year CD Rates

BankAPYTermMinimum
Farmers Insurance5.00%60 Months$1,000
Schools First Credit Union4.75%60 Months$100,000
Bread Savings4.75%60 Months$1,500

Free CD-Type Annuity Quote

Fill out the form below to receive a free annuity quote within 4 business hours, or use one of our annuity calculators.

CD Rate Calculator

How much will a CD pay? Enter your initial investment amount, the fixed annuity or CD rate and the term in the calculator below then hit CALCULATE.

By default, you’ll see what your annuity or CD will be worth at the end of the investment term based on compounding interest and no withdrawals.

You can access more calculators on our retirement calculators page.

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Key Take-Aways

A CD is very similar to a fixed annuity. If you are looking for a safe and steady way to grow your retirement a fixed annuity may warrant consideration. One thing to keep in mind is annuities have early withdrawal penalties that are usually more costly than a bank CD.

Marcus Bank Contact Information

Online Savings Accounts, CDs & Insights

Phone Number:

855-730-7283
24 hours a day, 7 days a week

Taxable Investment Accounts, Traditional IRAs, Roth IRAs, SEP IRAs

US Toll-Free: 1-833-720-6468
Monday-Friday 9 am-6:30 pm

Frequently Asked Questions

Savings & Insights

Online Savings Accounts, CDs & Insights

US Toll-Free: 1-855-730-7283
 

While not FDIC insured, State Guaranty Associations provide a safety net for their state’s annuity policyholders. These Guaranty Associations guarantee policyholders continue to receive coverage (up to the limits spelled out by state law) even if their insurer is declared insolvent. Source: “Learn to Invest, Investment Types, Annuities, Fixed Annuities.”  Financial Industry Regulatory Authority (FINRA).  Visit FINRA’s Fixed Annuities Webpage

You can not lose money in a fixed annuity. However, guarantees are backed by the claims-paying ability of the issuing insurance company so it is important to consider an insurer’s financial rating when shopping for an annuity.

Marcus by Goldman Sachs is the consumer banking division of Goldman Sachs. Named for one of the founders of the investment bank (Marcus Goldman), Marcus is an online bank offering only a few specific banking products. Offerings include a high-yield savings account, high-yield CDs, no-penalty CDs and fixed-rate, no-fee personal loans. It also provides investment products. Goldman Sachs launched Marcus in 2016.

Compare Marcus Bank CD Rates to other Top Rates

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