What to Know About Our
Online Savings Account Rate
Unlike traditional savings accounts, our Online Savings Account has a rate that’s 8X the National Average. At Marcus, we strive to offer you highly competitive rates and long-term value to help you reach your savings goals.
Unlike traditional savings accounts, our Online Savings Account has a rate that’s 8X the National Average. At Marcus, we strive to offer you highly competitive rates and long-term value to help you reach your savings goals.
4.40% APY
Online Savings Account
Annual Percentage Yield
Annual Percentage Yield as of September 29, 2023. APY may change at any time before or after account is opened. Maximum balance limits apply.
The national average rate referenced is from the FDIC's published National Rates and Rate Caps for Savings deposit products, accurate as of September 18, 2023. See the FDIC website for more information.
Federal Funds Rate:
What It Means for Your Savings
- The Federal Reserve is expected to continue raising rates in 2022 to help bring inflation under control.
- When the Fed raises rates, banks tend to increase the interest rates they offer on deposit accounts.
- For 2022, Goldman Sachs Research’s baseline forecast anticipates seven rate hikes.
When the Fed raises rates, banks tend to increase the interest rates they offer on deposit accounts.
The Fed announced a 0.25% rate hike in July but declined to provide any clear signal about its intentions on interest rates going forward.
Goldman Sachs Research continues to expect that the July rate hike will likely be the last one for the year.
Backed by the financial expertise of Goldman Sachs, Marcus was created to help people achieve financial well-being.
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Annual Percentage Yield (APY) as of September 29, 2023. APY may change at any time before or after account is opened. Maximum balance limits apply.
This calculator is for illustrative purposes only and may not apply to your individual circumstances. Calculated values assume that principal and interest remain on deposit and are rounded to the nearest dollar. All APYS are subject to change.
Rates of the selected banks reflect New York savings rates for similar products at the select banks with a minimum balance of $2,500. Rates may vary by state and do not account for bonus, special or promotional APYs. National Average is based on the APY average for savings accounts with a minimum balance of at least $2,500 as reflected in the FDIC's published National Rates and Rate Caps for Savings deposit products. See the FDIC website for more information. Rates of selected banks as reported by Informa Financial Intelligence, www.informars.com. Informa has obtained the data from the various financial institutions that it tracks and its accuracy cannot be guaranteed. This calculator does not include all savings accounts available in the marketplace.
Our rate as of September 29, 2023.
Comparison banks’ rates as of September 26, 2023.
National Average rate effective as of September 18, 2023.
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