A high-yield Online Savings Account is a savings account that has a higher rate than you’ll find with a traditional savings account. One reason we’re able to offer high rates is because we don’t have the costs that come with supporting a network of local branches.
With Marcus, there’s no minimum balance to earn interest—you start earning interest the day we receive your funds.
We compound interest daily and credit it to your Online Savings Account 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).
An initial deposit is the very first transfer you make to fund your Online Savings Account. The term “one-time deposit” applies to a transfer you schedule for a specific date and won’t automatically repeat.
A recurring deposit is a transfer you can schedule to occur on a regular basis. We make it simple to choose how much money and how often you’d like to transfer funds into your account. You can link up to four accounts to your Marcus account.
We make it easy to transfer funds. You can make deposits by ACH transfer from a linked external account, by wire transfer and even mail us a check.
Yes. You’ll need this information:
Goldman Sachs Bank USA
Routing number: 1240-8526-0
Your Marcus Online Savings Account number
Our Online Savings Accounts have high rates but no fees. Plus, we don’t have a minimum balance, which means you don’t have to save up before you can start saving with Marcus.
You can also have more than one Online Savings Account – this can make it easier to put money toward a specific goal, like a vacation or a new car. We also have articles in our site’s Resources section along with first-person stories that can help you learn about savings, budgeting and how others are working to reach their goals.
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.