We compound interest daily and you’ll see it credited it to your Certificate of Deposit (CD) monthly.  The more frequently interest is compounded, the more interest you earn.

Annual Percentage Yield – aka APY – is how much interest you can expect to earn in a year if you leave your money right where it is (i.e., no withdrawals).

You have 30 days to reach the minimum balance of $500 and you start earning interest once you reach this amount. Good to know: with Marcus, you can withdraw interest you’ve earned every month —just link your CD to an external account and transfer any credited interest!

It could be helpful to think about your savings goal and find a term that fits. For example, a 12-month CD for a vacation, or a 5-year CD if you want to save for a home. Good to know: your high rate’s locked in for the full term.

They’re similar but different. Both have high, fixed rates and guaranteed returns. And with both, you can withdraw interest once a month throughout the term. The difference: You can’t withdraw a CD’s principal before the term ends. A No-Penalty CD allows you to withdraw your principal and your interest beginning 7 days after funding.

Yes. Marcus savings accounts are provided by Goldman Sachs Bank USA. Goldman Sachs Bank USA is an FDIC member, which means that funds deposited in Marcus savings accounts are insured up to the maximum allowed by law.