Marcus CD Rates

A CD rate is the amount of money a bank pays you on a certificate of deposit, also called a CD. 

With a CD, you typically commit to foregoing access to your money for a specific amount of time. Because you’re making that kind of commitment, banks generally pay you interest at a higher rate than on savings accounts. 

CD rates are typically expressed as an Annual Percentage Yield (“APY”).

APY, which stands for annual percentage yield, is how much interest you earn on your CD, including all compounding interest, after one year. Interest usually compounds daily, monthly, quarterly or annually. With compound interest, you earn interest on your initial balance at first, then after the first compounding period, you earn interest on your balance plus the interest you’ve already earned. This continues through the entire term of your CD.

A CD's APY is determined by both the interest rate and how often interest is compounded. The higher your APY, the faster your balance could grow.

APY is often confused with APR, annual percentage rate — but the two are different. APR is the amount you pay to borrow money, like with a credit card or personal loan. APY applies to deposit accounts. 

Typically, the longer the term on a CD, the higher your interest rate. This is because, when you commit to leaving your money with a bank for an extended time, institutions know they can use those funds for other purposes, like making loans to other customers, without the worry of you removing your funds from the bank.

Since this works to their advantage, it’s one reason they’re typically willing to pay you more interest. So that’s why the rate on a 5-year CD is often higher than the rate on a 1-year CD. 

Both our High-Yield CD and our No-Penalty CD have a $500 minimum balance and come in a variety of terms. The differences are:

• Withdrawals. The full balance of a No-Penalty CD may be withdrawn anytime beginning seven days after funding. High-Yield CD has an early withdrawal penalty if the balance is withdrawn before the maturity date.
• Deposits. Once a No-Penalty CD is funded with $500 or more, additional funds may not be added. For a High-Yield CD, after you deposit the minimum of $500 to open, you may continue to add funds during the first 30 days after account opening. 

The Rate Bump CD is a type of CD that allows you to lock in a rate for a specific term, and if we raise the APY and interest rate offered for your term, you can request to increase to the higher APY and interest rate if your account has Rate Bump Requests available. You’ll earn the higher rate until the end of your term. The number of Rate Bump Requests you may request over the life of your Rate Bump CD depends on the length of the Rate Bump CD term. Learn more.

Visit our CD Information Guide to read more about Marcus CDs and how they work

The Marcus 6-Month High-Yield CD rate is 4.80% Annual Percentage Yield. The Marcus 6-Month CD matures after 6 months and is the shortest term CD that Marcus currently offers. This CD could be useful for short-term goals, such as preparing for a special event or a vacation. 

APY as of April 20, 2024. APY may change at any time before CD is opened and funded. Penalties that may reduce CD earnings will apply to a withdrawal of principal prior to maturity. $500 minimum to open a CD and earn stated APY. Maximum balance limits apply.

The Marcus 9-Month High-Yield CD rate is 4.90% Annual Percentage Yield.

APY as of April 20, 2024. APY may change at any time before CD is opened and funded. Penalties that may reduce CD earnings will apply to a withdrawal of principal prior to maturity. $500 minimum to open a CD and earn stated APY. Maximum balance limits apply.

The Marcus 12-month High-Yield CD rate is 4.90% Annual Percentage Yield. The Marcus 1-Year CD (12-Month CD) matures after 1 year (12 months) and presents another option for those seeking a fixed rate for a full year

APY as of April 20, 2024. APY may change at any time before CD is opened and funded. Penalties that may reduce CD earnings will apply to a withdrawal of principal prior to maturity. $500 minimum to open a CD and earn stated APY. Maximum balance limits apply.

The Marcus 18-Month High-Yield CD rate is 4.60% Annual Percentage Yield.

APY as of April 20, 2024. APY may change at any time before CD is opened and funded. Penalties that may reduce CD earnings will apply to a withdrawal of principal prior to maturity. $500 minimum to open a CD and earn stated APY. Maximum balance limits apply.

The Marcus 2-Year High-Yield CD rate is 4.20% Annual Percentage Yield. The 2-year CD is one of the middle options among CD terms offered by Marcus. 

APY as of April 20, 2024. APY may change at any time before CD is opened and funded. Penalties that may reduce CD earnings will apply to a withdrawal of principal prior to maturity. $500 minimum to open a CD and earn stated APY. Maximum balance limits apply.

The Marcus 3-Year High-Yield CD rate is 4.15% Annual Percentage Yield. The Marcus 3-Year CD matures after 3 years and is an option for those seeking medium-term savings goals. See how a range of terms can help you build a CD Ladder.

APY as of April 20, 2024. APY may change at any time before CD is opened and funded. Penalties that may reduce CD earnings will apply to a withdrawal of principal prior to maturity. $500 minimum to open a CD and earn stated APY. Maximum balance limits apply.

The Marcus 4-Year High-Yield CD rate is 4.05% Annual Percentage Yield. See how a range of terms can help you build a CD Ladder..

APY as of April 20, 2024. APY may change at any time before CD is opened and funded. Penalties that may reduce CD earnings will apply to a withdrawal of principal prior to maturity. $500 minimum to open a CD and earn stated APY. Maximum balance limits apply.

The Marcus 5-Year High-Yield CD rate is 4.00% Annual Percentage Yield. The 5-year CD could be useful for longer-term savings goals.

APY as of April 20, 2024. APY may change at any time before CD is opened and funded. Penalties that may reduce CD earnings will apply to a withdrawal of principal prior to maturity. $500 minimum to open a CD and earn stated APY. Maximum balance limits apply.

The Marcus 6-Year High-Yield CD rate is 3.90% Annual Percentage Yield. The 6-year CD is currently the longest term CD offered by Marcus.

APY as of April 20, 2024. APY may change at any time before CD is opened and funded. Penalties that may reduce CD earnings will apply to a withdrawal of principal prior to maturity. $500 minimum to open a CD and earn stated APY. Maximum balance limits apply.