Marcus CD Information Guide

We’ll send an email or a letter (depending on your communications preferences) 30 days before your CD matures. In addition, you can check your maturity date any time on your Account Details page at marcus.com. We also include your maturity date on every monthly statement.

When your CD matures, we’ll follow the instructions in your CD Maturity Plan—to renew, change or close your CD. If you never changed your CD Maturity Plan after opening your CD, you’ll have a 10-day grace period following maturity, during which you can withdraw your balance without penalty, renew your CD with the same term or a different term; or, close your CD. If you don’t contact us within the 10-day grace period to take any action, your CD will automatically renew for another term.

Although we don’t offer the option to convert your CD to a different type CD, you can close your original CD when it matures and open the new CD you want. (If you need assistance, just give us a call.)

Yes! While it takes a minimum of $500 to open a CD, you can keep adding to your balance within the initial 30 days after account opening. (This applies to High-Yield CDs and Rate Bump CDs only; You cannot add money to a No-Penalty CD once the minimum balance is reached.) To make additional deposits to your High-Yield CD or Rate Bump CD within the 30-day initial funding period, log in at marcus.com or in the Marcus app and select “Deposit or Transfer” to add funds from your account at an external bank or from your Marcus Online Savings Account. You can also mail a check for deposit to your account, but keep in mind the check must be received and processed within the 30-day initial funding period. To add money via wire transfer from another bank, you’ll need to provide them with the Goldman Sachs Bank USA Routing Transit Number and your account number. After 30 days, your High-Yield CD or Rate Bump CD is locked and further deposits aren’t allowed.

Exception: When you successfully submit a Rate Bump Request on a Rate Bump CD, you have the option to add money to your account within 10 days of the increase, just in case you want to take even more advantage of a rising rate.

To close your CD, go to your Account Details page, click on the three-dot menu in the upper right and select “Close this account.” If your account is eligible for closure, we’ll confirm your balance and ask where you’d like to transfer your funds.  If you’d like to transfer to multiple accounts, or if you’d like us to mail you a check, please give us a call to close your account at 1-855-730-7283. Reminder: If you close your CD prior to maturity, you’ll be charged an early withdrawal penalty based on the term of your CD and the principal. NOTE: For your security, if your CD balance is over $125,000, we ask that you call and speak with a Savings Specialist to verify your identity and close your CD if the balance is over $125,000.