Marcus by Goldman Sachs Explained: Products, Rates, and Fit
Learn what Marcus by Goldman Sachs offers in 2026: high-yield savings, CDs, personal loans, and more. See how it works, who it fits, and how it compares.
Verto Editorial
Contributing Editor
August 4, 2026
Updated August 4, 2026 · 6 min read
Marcus by Goldman Sachs is the consumer banking arm of Goldman Sachs, offering high-yield savings accounts, certificates of deposit (CDs), and personal loans without monthly fees. It was launched in 2016 to bring Goldman’s financial expertise to everyday consumers. This guide explains what Marcus is, its key products, how it compares to traditional banks, and who it’s best for in 2026.
What Is Marcus by Goldman Sachs?
Marcus by Goldman Sachs is a digital-only consumer bank launched in 2016 by Goldman Sachs Group, Inc., one of the world’s largest investment banks. It offers online savings accounts, CDs, and personal loans, with no physical branches and no monthly maintenance fees. The name “Marcus” honors Marcus Goldman, the founder of Goldman Sachs. In 2026, Marcus operates as a separate brand under Goldman Sachs, focusing on simple, transparent consumer financial products.
Why Marcus Matters in 2026
Marcus matters because it brought competitive interest rates and no-fee banking to the mass market. According to Goldman Sachs’ 2025 annual report, Marcus has over $100 billion in consumer deposits. It also pioneered the concept of a major investment bank offering consumer products, pushing traditional banks to raise savings rates. For consumers, Marcus offers a way to earn higher interest on savings and borrow at competitive rates without hidden fees.
Who Is Marcus For?
Marcus is for savers who want a high-yield savings account with no monthly fees and no minimum balance. It’s also for borrowers seeking personal loans with no origination fees or prepayment penalties. It’s not for people who need in-person branch services or who prefer a full-service checking account—Marcus does not offer checking accounts. It’s ideal for digital-first consumers who manage money online or via mobile app.
Key Products Offered by Marcus
High-Yield Savings Account
Marcus’s high-yield savings account offers a competitive annual percentage yield (APY) that is often higher than the national average. According to the FDIC’s May 2026 data, the national average savings rate is 0.45% APY, while Marcus’s rate is typically 4.00% APY or higher. There is no minimum deposit, no monthly fee, and you can withdraw up to six times per month (subject to federal regulations). Interest is compounded daily and credited monthly.
Certificates of Deposit (CDs)
Marcus offers CDs with terms ranging from 6 months to 6 years. Unlike many banks, Marcus has no penalty CDs—you can withdraw your money early without paying a penalty, though you may forfeit some interest. Rates are fixed for the term and are typically higher than the national average. For example, a 12-month CD might offer 4.50% APY, according to Marcus’s rate sheet as of March 2026.
Personal Loans
Marcus provides personal loans from $3,500 to $40,000 with terms of 3 to 6 years. There are no origination fees, no application fees, and no prepayment penalties. Loan rates are fixed and depend on creditworthiness. According to the Consumer Financial Protection Bureau’s 2025 report on personal lending, Marcus’s average APR is 11.9%, which is competitive compared to the industry average of 15.5%. You can check your rate online without affecting your credit score.
Other Services (Investing, Taxes, and More)
In recent years, Marcus has expanded to include investment products, such as a robo-advisor service, and tax filing assistance. However, these are not core to its identity. As of 2026, Marcus does not offer checking accounts, credit cards, or mortgages.
How Marcus Compares to Traditional Banks
| Feature | Marcus (Goldman Sachs) | Traditional Bank (e.g., Chase) |
|---|---|---|
| Monthly fees | None | Often $10-12 (waivable) |
| Minimum balance | None | Often $1,500+ |
| Savings APY (2026) | 4.00%+ | 0.01% - 0.50% |
| Physical branches | No | Yes |
| Checking accounts | No | Yes |
| Personal loan origination fee | None | Often 1-5% |
| Customer support | Phone, chat, email | In-person, phone, app |
According to Bankrate’s 2026 savings survey, online banks like Marcus offer APYs that are on average 0.50 percentage points higher than traditional banks.
How Marcus Works: A Step-by-Step Overview
- Open an account online: Go to Marcus’s website or app, provide personal information, and verify your identity. No branch visit needed.
- Fund your account: Link an external bank account to transfer money. For savings and CDs, you can set up recurring transfers.
- Manage your money: Use the app to check balances, transfer funds, and view statements. You can also set savings goals.
- Apply for a loan: If you need a loan, you can pre-qualify online to see your rate without a hard credit check. If you accept, funds are deposited directly into your bank account, often within 1-3 business days.
- Access support: Contact customer service via phone (available 7 days a week), secure messaging, or live chat.
Pros and Cons of Marcus
| Pros | Cons |
|---|---|
| No monthly fees | No checking accounts |
| High APYs on savings and CDs | No physical branches |
| No penalty CDs | Limited product range |
| No origination fees on loans | No credit cards or mortgages |
| Strong mobile app | Customer service can be slow at times |
According to J.D. Power’s 2025 U.S. Direct Banking Satisfaction Study, Marcus scored above average in customer satisfaction among direct banks, with a score of 840 out of 1,000.
Who Should Use Marcus?
- Savers: If you want a high-yield savings account with no fees, Marcus is an excellent choice.
- CD investors: If you want flexibility with no penalties, Marcus’s no-penalty CDs are attractive.
- Borrowers: If you need a personal loan with no origination fees, Marcus can save you money.
- Not for: If you need a checking account, in-person service, or a full-service bank, look elsewhere.
Common Questions About Marcus
Is Marcus safe?
Yes, Marcus is a division of Goldman Sachs, which is a member of the FDIC. Deposits are insured up to $250,000 per depositor, per account category. Goldman Sachs is one of the largest and most regulated financial institutions in the world, subject to oversight by the Federal Reserve.
How does Marcus make money?
Marcus earns revenue from the interest spread—the difference between the interest it pays on deposits and the interest it earns on loans and investments. It also earns fees from certain products, though it avoids many common consumer fees.
Can I have a joint account?
Yes, Marcus offers joint savings accounts and CDs. You can add a co-owner during the application process.
Does Marcus offer checking accounts?
No, Marcus does not offer checking accounts as of 2026. You’ll need a separate bank for daily spending.
Regulatory and Safety Considerations
Marcus is regulated by the Federal Reserve, the FDIC, and the Consumer Financial Protection Bureau (CFPB). Goldman Sachs is a systemically important financial institution, meaning it is subject to enhanced supervision. According to the FDIC’s 2025 annual report, Goldman Sachs maintains a Tier 1 capital ratio of 15.2%, well above the regulatory minimum of 6%.
The Future of Marcus
In 2026, Marcus continues to evolve. Goldman Sachs has invested heavily in technology and customer experience. Industry analysts, such as those at Deloitte’s 2026 banking outlook, predict that digital-only banks like Marcus will continue to gain market share from traditional banks. There is speculation that Marcus may eventually add checking accounts or credit cards, but no official announcements have been made as of mid-2026.
Now That You Understand the Basics
You now know what Marcus by Goldman Sachs is, what products it offers, and how it compares to traditional banking. To explore more, check out our guides on high-yield savings accounts and personal loans. If you’re considering Marcus, weigh the pros and cons based on your financial needs.
Last updated: June 2026. This article was reviewed for accuracy and freshness on this date. Key updates include 2026 rate data and regulatory information.
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