Marcus by Goldman Sachs Online Savings
Marcus pays a flat 3.50% APY with no monthly fee and no minimum balance, and deposits are held at Goldman Sachs Bank USA, an FDIC member we verified directly. It is one of the strongest no-strings rates from a major institution — just note the APY is variable and can change at any time.
Is the Marcus by Goldman Sachs Online Savings worth it?
Marcus by Goldman Sachs is the rare big-institution savings account that keeps it simple. It pays a flat 3.50% APY (as of 05/30/2026) with no monthly fee and no minimum balance — the rate applies to your first dollar, with no tiers to manage.
The deposits sit at Goldman Sachs Bank USA. We did not take the insurance on faith: we confirmed with the FDIC that the bank is an active insured institution, certificate #33124 in New York. Coverage runs up to $250,000 per depositor, per ownership category.
The trade-offs are the standard online-savings ones: the 3.50% APY is variable and can change at any time, it is online-only with no branches, and there is no debit or check-writing. But for a strong, no-minimum rate from one of the most established names in banking, Marcus is hard to beat. This is not financial advice — confirm the current rate on Marcus’s site before opening.
How does a high-yield savings account work?
A high-yield savings account holds cash and pays interest, quoted as an annual percentage yield (APY). The bank can change a variable APY at any time, and federal rules may limit certain withdrawals. Interest compounds — usually daily or monthly — and is taxable income in the year you earn it.
How much could you earn with the Marcus by Goldman Sachs Online Savings?
At a 3.5% APY, a $10,000 balance in the Marcus by Goldman Sachs Online Savings earns about $350 in interest over a year, before taxes. Double the balance and you roughly double the interest; your real return depends on how long the rate holds.
Illustrative estimate based on the figures on this page, not an offer. Your results will differ.
What are the pros and cons of the Marcus by Goldman Sachs Online Savings?
The Marcus by Goldman Sachs Online Savings stands out for flat 3.50% APY with no balance tiers, though aPY is variable and can change at any time.
- Flat 3.50% APY with no balance tiers
- No monthly fee and no minimum balance
- Backed by Goldman Sachs Bank USA, FDIC-insured (verified with the regulator)
- APY is variable and can change at any time
- Online-only — no branches or ATM network
- No checking or debit access
Who should get the Marcus by Goldman Sachs Online Savings?
The Marcus by Goldman Sachs Online Savings is best for savers who want a strong rate from a big, established institution.
- Savers who want a strong rate from a big, established institution
- Building an emergency fund with no minimum and no fees
- Anyone consolidating cash out of a near-0% big-bank account
Money guides for: First-time savers
How does the Marcus by Goldman Sachs Online Savings compare?
Among the 29 high-yield savings accounts we track, the Marcus by Goldman Sachs Online Savings ranks #1 with a money8020 score of 96/100.
| Product | Score | Tier | Provider |
|---|---|---|---|
| Marcus by Goldman Sachs Online Savings | 96 | Essential | Marcus by Goldman Sachs |
| Bread Savings High-Yield Savings | 94 | Essential | Bread Savings |
| Pibank Savings | 94 | Essential | Pibank |
| Poppy Bank High Yield Savings | 94 | Essential | Poppy Bank |
| Vio Bank High Yield Online Savings | 94 | Essential | Vio Bank (a division of MidFirst Bank) |
See all high-yield savings accounts, ranked →
Common mistakes to avoid with a high-yield savings account
- Chasing a teaser rate without checking the ongoing APY or any balance tier needed to earn it.
- Leaving an emergency fund in a 0.01% big-bank account instead of a high-yield account.
- Assuming the APY is fixed — it is variable and can drop after you open.
- Overlooking transfer times: moving money to a linked bank can take one to three business days.
Key takeaways
- Marcus by Goldman Sachs Online Savings earns a money8020 score of 96/100, ranking #1 of 29 high-yield savings accounts.
- Flat 3.50% APY with no balance tiers
- At a 3.5% APY, a $10,000 balance in the Marcus by Goldman Sachs Online Savings earns about $350 in interest over a year, before taxes.
- Best for savers who want a strong rate from a big, established institution.
- Rate and FDIC status fetched from Marcus by Goldman Sachs and corroborated against a regulator.
Frequently asked questions about the Marcus by Goldman Sachs Online Savings
Is there a minimum balance to earn the Marcus 3.50% APY?
No. Per Marcus, there is no minimum balance and no monthly fee, and the 3.50% APY (as of 05/30/2026) applies to all balances. The rate is variable and can change at any time before or after the account is opened, so confirm the current APY on Marcus's site.
Is Marcus FDIC insured?
Yes. Marcus deposits are held at Goldman Sachs Bank USA, which we confirmed with the FDIC is an active insured institution (certificate #33124, New York). Deposits are insured up to $250,000 per depositor, per ownership category.
Can the rate on the Marcus by Goldman Sachs Online Savings change?
Yes. A high-yield savings APY is variable, so the bank can raise or lower it at any time, often following moves in the federal funds rate. Check the rate before you open and review it periodically.
How is interest from the Marcus by Goldman Sachs Online Savings taxed?
Savings interest is taxable as ordinary income in the year you earn it. If you earn more than $10, the bank sends a Form 1099-INT, and you report it on your federal return.
Sources
We fetched these figures from the provider and corroborated them against a regulator, last checked May 30, 2026. Primary sources: