Marcus Bank CD Rates Reviewed
This 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
| Term | APY | Minimum Deposit |
|---|---|---|
| 6 months | 4.25% | $500 |
| 9 months | 4.30% | $500 |
| 10 months* | 5.05% | $500 |
| 1 year | 4.75% | $500 |
| 18 months | 4.75% | $500 |
| 2 years | 4.35% | $500 |
| 3 years | 4.30% | $500 |
| 4 years | 4.00% | $500 |
| 5 years | 3.80% | $500 |
| 6 years | 3.70% | $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.
| FEATURES | FIXED ANNUITY | CD |
|---|---|---|
| Issued By | Insurance Companies | Banks |
| Investment Amount | $2,000 - $1,000,000 | Essentially Any Amount |
| Investment Term | 2 years - 10 years | 3 months - 5 years |
| Interest Rates (APY) | Varies by product. | Varies by bank, term and investment amount. |
| Liquidity | Usually, 10% annually or interest earned. | Almost always accumulated interest. |
| Guarantees | Backed by Insurer & State Guaranty Associations. | Backed by the FDIC. |
| Death Benefit | May 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.
| Term | Insurer | Company Details | Annuity | Rate | AM Best | Application |
|---|---|---|---|---|---|---|
| 2 Years | 
| Oceanview | Harbourview | 4.90% | A- | Apply |
| 3 Years | 
| Farmers Life | Safeguard Plus | 5.50% | B++ | Apply |
| 4 Years | 
| AMERICO | Platinum Assure | 5.20% | A | Apply |
| 5 Years | 
| Ibexis | MYGA Plus | 5.90% Simple | A- | Apply |
| 6 Years | 
| EquiTrust | Certainty Select | 5.65% | B++ | Apply |
| 7 Years |
| AMERICO | Platinum Assure | 5.55% | A | Apply |
| 8 Years |
| EquiTrust | Certainty Select | 5.70% | B++ | Apply |
| 9 Years | 
| American National | Palladium MYG | 5.10% | A | Apply |
| 10 Years |
| EquiTrust | Certainty Select | 6.00% | B++ | Apply |
Today's Top CD Rates
3 Month CD Rates
| Bank | Rate | Term | Minimum |
|---|---|---|---|
| TotalDirect Bank | 5.16% APY | 3 Months | $25,000.00 |
| Ponce Bank N.A. | 5.15% APY | 3 Months | $50,000.00 |
| Brilliant Bank | 5.10% APY | 3 Months | $1,000.00 |
| Alliant Credit Union | 4.50% APY | 3 Months | $1,000.00 |
| Popular Direct | 4.50% APY | 3 Months | $10,000.00 |
Best 1 Year CD Rates
| Bank | Rate | Term | Minimum |
|---|---|---|---|
| Evergreen Bank Group | 5.50% APY | 13 Months | 10000 |
| NexBank | 5.40% APY | 12 Months | 25000 |
| BrioDirect | 5.35% APY | 12 Months | 500 |
| Bread Savings | 5.25% APY | 12 Months | 1000 |
| Barclays | 4.80% APY | 12 Months | 0 |
2 Year CD Rates
| Bank | Rate | Term | Minimum |
|---|---|---|---|
| U.S. Senate Federal Credit Union | 5.28% APY | 24 Months | 1000 |
| Summit Credit Union | 5.25% APY | 22 Months | 5000 |
| Idabel National Bank | 5.05% APY | 24 Months | 1000 |
| Bread Savings | 5.00% APY | 24 Months | 1500 |
| PenFed Credit Union | 4.45% APY | 24 Months | 1000 |
3 Year CD Rates
| Bank | Rate | Term | Minimum |
|---|---|---|---|
| U.S. Senate Federal Credit Union | 5.23% APY | 36 Months | 1000 |
| Quorum Federal Credit Union | 4.85% APY | 36 Months | 1000 |
| Popular Direct | 4.55% APY | 36 Months | 10000 |
| Bread Savings | 4.50% APY | 36 Months | 1500 |
| Barclays | 4.30% APY | 36 Months | 0 |
4 Year CD Rates
| Best 4-Year CD Rates | Rate | Term | Minimum |
|---|---|---|---|
| NASA Federal Credit Union | 4.85% APY | 49 Months | 10000 |
| GTE Financial | 4.85% APY | 48 Months | 500 |
| First National Bank of America | 4.50% APY | 48 Months | 1000 |
| Bread Savings | 4.35% APY | 48 Months | 1500 |
5 Year CD Rates
| Bank | Rate | Term | Minimum |
|---|---|---|---|
| Lafayette Federal Credit Union | 4.68% APY | 60 Months | 500 |
| Department of Commerce Federal Credit Union | 4.67% APY | 60-84 Months | 25000 |
| GTE Financial | 4.54% APY | 60 Months | 500 |
| Popular Direct | 4.53% APY | 60 Months | 10000 |
| Bread Savings | 4.25% APY | 60 Months | 1500 |
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.
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
Are Annuities FDIC Insured?
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
Can You Loose money in a fixed annuity?
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.
How is Marcus Bank related to Goldman Sachs?
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.
