Goldman Sachs Marcus Review

Goldman Sachs Marcus Review

Reading a standard Marcus review does not tell if Goldman Sachs developed a personal banking product that is worth considering. There are a few features that are useful but also some that may not be as exciting.


Opening a Marcus savings account is simple, straight forward, and can be done online. What is important to know is that the APY is very attractive. This high APY makes sense when considering that there is a lower overhead for services such as Marcus that require no physical interaction with Goldman Sachs staff.


The APY offered by a Marcus savings account is far better than what most other savings accounts offer. With 0.50% APY, Marcus is a far better choice for people that like to save.

No monthly fees

Every single Marcus review emphasizes that the service has no monthly fees or any types of fees at all. While this may seem a major perk, it is not exclusive to Marcus by Goldman Sachs. There are plenty of savings accounts that have no fees at all.

High-Yield CD Rates

If the 0.50% APY seems low, Marcus offers high-yield CD rates. The rates are not considerably higher. For deposits over 5 years, the APY goes up to 0.60%. On the other hand, there are no penalties for cash withdrawals except for losing the APY.

Overall, Marcus is a reasonable alternative to regular savings accounts. Being a digital banking service also makes it much more convenient to manage. What it is lacking is the features of a checking or money market account which would turn it into an all-in-one banking product. On the upside, opening a Marcus account grants access to fixed-rates personal loans and no fees. Overall, every single Marcus review is positive for treating it for exactly what it is: high yield savings account that is easy to manage and has no fees.