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Marcus by Goldman Sachs New & Existing Savings Customers: Deposit $10,000, Get Expired

$100 Bonus
+134 Deal Score
92,202 Views
Marcus by Goldman Sachs is offering New & Existing Online Savings Account Customers: Deposit $10,000 in New Funds to your online Savings Account and Get $100 Bonus when you enroll in the offer and maintain the balance for 90 days (see instructions below).

Thanks to community member sunleaf for finding this deal.

Deal Instructions
  1. Click here to enroll in the offer
  2. Log in to your Marcus by Goldman Sachs Savings Account or open an account
  3. Deposit $10,000 (new funds) into your account within 10 calendar days of enrollment
    • Keep the funds, plus your current balance in your account for 90 days.
    • Enroll by February 12, 2021 at 11:59 PM EST
  4. The $100 Bonus will be deposited to your account within 14 days of completing the bonus requirements

Editor's Notes & Price Research

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  • About this Deal
    • This account has an Annual Percentage Yield (APY) of 0.50% as of January 17, 2021. APY may change at any time before or after account is opened. Maximum balance limits apply.
    • Each customer is limited to one bonus offer, which can only be applied to a single account.
    • Review the complete terms and conditions here.
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Original Post

Written by
Edited February 8, 2021 at 12:51 PM by
Just received email from Marcus by Goldman Sachs. Good for existing customers too. Deposit $10000 for $100 bonus. Current interest rate 0.5%. Need to keep balance for 90 days to be eligible. Effectively translate into 4.5% APR.

https://www.marcus.com/us/en/disc...er-details
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Score +134
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$100 Bonus
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Featured Comments

Its sad that the Fed have kept rates so long and stock market risk so high that this is considered a deal Frown
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If you make over $518,000, you'll have to pay 37% tax on this bonus. If you make closer to the median American household income of about $68k, you'll pay around 12% tax on this.

Here are the tax brackets so you can determine what your marginal rate on this would be: https://taxfoundation.org/2020-tax-brackets/
·
This is a deal because 90 day CDs are paying 0.4%
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bugelrex
01-15-2021 at 08:35 AM.

Our community has rated this post as helpful. If you agree, why not thank bugelrex

01-15-2021 at 08:35 AM.
Its sad that the Fed have kept rates so long and stock market risk so high that this is considered a deal Frown
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jon2249
01-15-2021 at 08:55 AM.
01-15-2021 at 08:55 AM.
I get this message..

We're sorry!
There appears to be an issue with the offer. Please give us a call at 1-855-730-SAVE (1-855-730-7283) to continue.
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jon2249
01-15-2021 at 08:56 AM.
01-15-2021 at 08:56 AM.
Fixed
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Last edited by jon2249 January 15, 2021 at 09:08 AM.
Joined Jan 2005
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SonofZeus
01-15-2021 at 08:58 AM.
01-15-2021 at 08:58 AM.
This is a deal because 90 day CDs are paying 0.4%
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samsungs70
01-15-2021 at 09:02 AM.
01-15-2021 at 09:02 AM.
How much approximately do I have to pay the tax when they send me the 1099 form for this $100 bonus? Nevermind, google says the tax is 40% of the bonus.
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Last edited by samsungs70 January 15, 2021 at 09:06 AM.
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fyu
01-15-2021 at 09:05 AM.

Our community has rated this post as helpful. If you agree, why not thank fyu

01-15-2021 at 09:05 AM.
Quote from samsungs70 :
How much approximately do I have to pay the tax when they send me the 1099 form for this $100 bonus?
How much money do you make?
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Peerless_Warrior
01-15-2021 at 09:07 AM.
01-15-2021 at 09:07 AM.
Quote from samsungs70 :
How much approximately do I have to pay the tax when they send me the 1099 form for this $100 bonus?
I believe it's based on the tax level of the individual. Safe to assume the average person will lose 25-30%.
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boxster99t
01-15-2021 at 09:16 AM.
01-15-2021 at 09:16 AM.
Quote from SonofZeus :
This is a deal because 90 day CDs are paying 0.4%
That's true--I opened a savings account with GS/Marcus on December 31 at .55% APR after checking out rates and yields for various maturities of CD's with BofA, my current bank.

Marcus' savings account interest rate (and there's no minimum as far as how long the account has to stay open) was .05% more than my current bank would pay me on 12 month CD or regular savings account, for that matter. Offer looks good to me as I have the funds to make an incremental deposit of $10K to qualify.
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samp4747
01-15-2021 at 09:19 AM.
01-15-2021 at 09:19 AM.
Are you able to enroll online or calling in?
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boxster99t
01-15-2021 at 09:19 AM.
01-15-2021 at 09:19 AM.
Quote from Peerless_Warrior :
I believe it's based on the tax level of the individual. Safe to assume the average person will lose 25-30%.
Correct, although if you live in a state with no personal income tax, the average person isn't in a 25% incremental tax bracket, probably less than that.
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jcinc
01-15-2021 at 09:37 AM.
01-15-2021 at 09:37 AM.
Quote from samsungs70 :
How much approximately do I have to pay the tax when they send me the 1099 form for this $100 bonus? Nevermind, google says the tax is 40% of the bonus.
Depends on the tax bracket you are in.
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Original Poster
sunleaf
01-15-2021 at 09:37 AM.
01-15-2021 at 09:37 AM.
Quote from samp4747 :
Are you able to enroll online or calling in?

I did online. Took 5 minutes.
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MrHalliday
01-15-2021 at 09:39 AM.
01-15-2021 at 09:39 AM.
As previous customer,
Enrolled and xfrd in the money.
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