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Rating by Finanso®

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.



About lender

Marcus by Goldman Sachs was launched by one of the most well-known investment companies in the world. The primary services offered by Marcus can be separated into five distinct categories. The first one is savings. Marcus' customers are offered the opportunity to invest in one of the following: high-yield savings, high-yield certificates of deposit (CDs), and no-penalty certificates of deposit. The next category is investments, and it's mainly represented by Marcus Invest, a consultative service with automated portfolio management. It helps clients make money with the safest investment opportunities for a fee of just 0.35%.

The third category of services presented by Marcus by Goldman Sachs is loans. Clients can choose between different forms of Marcus by Goldman Sachs loans, namely: personal, debt consolidation loans, and home improvement loans. The fourth category is credit cards. It's possible to open a new Marcus by Goldman Sachs credit card and reap the advantages of the rewards system. The final one is MarcusPay. MarcusPay allows clients to pay for retail items over a certain period of time. Essentially, it's a no-deposit type of personal loan that comes with a permanent interest rate as well.

Pros and cons


  • Rates for certificates of deposits and saving accounts are better than the average offered elsewhere. Their annual percentage yield is four times higher than the nationwide average. Every Marcus claim regarding the rates is verifiable and true.

  • There are no monthly charges for their online savings service. The service does not impose any fee on your savings. You don't have to pay a certain sum every month to cover the maintenance costs.

  • There are no minimum deposit stipulations on online savings accounts. The minimal deposit for CDs is low. When registering a new savings account, you don't have to deposit a minimum sum to open it. When it comes to certificates of deposit, a $500 minimum is required.

  • Marcus by Goldman Sachs personal loan with no penalties and fixed rates. No pre-payment fine, no sign-up charges, and no hidden fees. The set rates accessible for those who qualify for Marcus by Goldman Sachs loans are also better than the other loan options available in the lending industry - they start at approximately 7% and reach as high as over 20% in certain cases.

  • Feeless certificates of deposit. You can easily withdraw the whole amount without having to face charges.


  • There's no checking account. Although this service is multi-faceted, it doesn't provide you with an opportunity to deal with all the banking needs manually.

  • There's no ATM network. There are additional charges, and there's the added inconvenience of having to shuffle your funds around in order to obtain cash whenever you need it.

  • There are no brick-and-mortar offices. It's an online-only financial service, and there's no option for you to visit a local branch for clarification or consultation.

  • There's no mobile cheque deposit option. Even though the mobile app is very convenient, there are still difficulties when it comes to transfers.

Who needs this service?

Marcus by Goldman Sachs has become very popular in the digital banking sector. Marcus is suitable for people who:

  • Want above-average rates on online savings,

  • Want online savings to account with no minimum deposit,

  • Are interested in flexible financial tools,

  • Are interested in a Marcus by Goldman Sachs personal loan at lucrative rates,

  • Want to do business with a reputable firm,

  • Don't want to have to micromanage their funds, or

  • Are looking for a fast way to apply for a loan.

Terms and conditions

The financial service offers loan options up to $40,000. The yearly percentage rates are set and go up to 20% in some situations. The minimal loan interest rate you can be eligible for is approximately 7%. The duration of Marcus by Goldman Sachs loans is a minimum of 3 years and as much as six years, depending on the amount you borrowed.

The online savings account requires no minimum deposit and presents a yearly percentage yield of 0.7% to the clientele. The situation is different for certificates of deposit. There are two distinctive types of CDs - high-yield and no-penalty. The first one necessitates a minimal deposit of $500 within the first ten days of opening an account. If you need to withdraw the funds before the end of the maturity period, you will be charged a fee. The second type of CD doesn't offer yields as high as 2.6%, but it also has no penalties and no service charges.

The Marcus by Goldman Sachs credit card service comes with its own sets of perks and fees. You will need to examine each option carefully before settling. The most popular choice seems to be their GM Extended Family - it offers 1% cashback on all purchases as well as 0% APR during the first nine-month period.

Finally, MarcusPay offers rates ranging from 9% to 30%. The minimum amount you can borrow is $300, and the maximum amount is $10,000. The debt has to be repaid in ‌6, 12, or 18 months.

Marcus by Goldman Sachs only accepts applications from people over the age of eighteen (nineteen in Alabama and twenty-one in Puerto Rico and Mississippi). Other key requirements include a valid USA bank account, SSN, or ITIN.

In case you choose to apply online, the service will present you with a list of best-suited loan options depending on your current financial situation and the sum of money you want to borrow. The application process takes a few minutes, and the approval takes less than one full day. Once approved, you will receive the funds within a four-day period.



Is Marcus by Goldman Sachs legitimate?

Yes, it's a legitimate service that received proper licensing to offer high-yield or no-penalty CDs and other services.

Is Marcus bank secure?

Yes. There are multiple methods of how Marcus by Goldman Sachs ensures the safety of its clientele. First, there's a strict verification process. Then, there's multi-step authentication, intricate Secure Sockets Layer encryption for web-based operations, and the usage of multiple firewalls to protect sensitive data.

What is Marcus with Goldman Sachs?

It's a web-based banking platform that was created by Goldman Sachs. It offers many financial services, namely: high-yield savings, CDs with no charges, and personal loans.

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