Marcus CD Information Guide

High-Yield CD: You can add money to your CD for 30 days after opening. Multiple deposits are allowed.

No-Penalty CD: You have 30 days from the date of opening to add money to your CD. You cannot add money to a No-Penalty CD once the minimum balance is reached. 

Rate Bump CD: You can add money to your CD for 30 days after opening. Multiple deposits are allowed. You also have the option to add money for 10 days after you successfully request a rate increase.

The interest you earn on your CD or No-Penalty CD will automatically be added to the principal balance of your CD each month. You have the option to withdraw any earned interest penalty-free—either by transferring to a Marcus Online Savings Account or to a linked external account. Call us at 1-855-730-7283 to set up an interest disbursement.

High-Yield CD and Rate Bump CD: Your rate is locked in on the date that your $500 minimum balance is reached, at any time during the 30-day funding window. You can keep making deposits until the 30-day cutoff, but your rate will not change. (One exception: Thanks to our 10-Day CD Rate Guarantee, if the rate for your selected term goes up during the 10 days after account opening, you’ll get the higher rate!)

No-Penalty CD: Your rate is locked in on the date that you fund your No-Penalty CD with $500 or more. 

Rate Bump CD: When you request a rate increase, your new rate is locked in immediately. 

High-Yield CD and Rate Bump CD: You can withdraw your balance without penalty on your maturity date or during the 10-day grace period following maturity, provided you haven’t taken action yet. If you withdraw your balance before your maturity date, you’ll be subject to an early withdrawal penalty.

No-Penalty CD: You can withdraw your balance without penalty anytime beginning 7 days after funding. 

If you withdraw the balance entire principal amount from your CD account prior to maturity, you’ll be charged an early withdrawal penalty based on the term of your CD and the principal (except in the case of a No-Penalty CD). Here’s how early withdrawal penalties are calculated:

The early withdrawal penalty is calculated as follows: Divide the CD’s interest rate by 365 (366 in a leap year), multiply by the number of days in the table above and then multiply by the CD’s original principal balance.

Early Withdrawal Penalty = Interest Rate ÷ 365 (or 366) × Penalty Days × Original Principal Balance

To estimate the early withdrawal penalty for your CD, see the calculation above or use the Early Withdrawal Penalty Calculator on your Account Details page. On your Account Details page, click on the three-dot menu in the upper right and select “Early Withdrawal Penalty Calculator.” Choose the business day on which you’d like to close your CD account and click “Calculate.” If you have any questions or need help, give us a call or chat with us, 24 hours a day / 7 days a week.