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High Yield CD - Marcus by Goldman Sachs 5.5% APY 12 month CD

+22 Deal Score
24,731 Views
High Yield Certificate of Deposit at 5.5% APY
This is one of the best rates around. There is an early withdrawal penalty but if you're planning on keeping your money in the CD, this is one of the best rates.
$500 minimum balance
Manage your account online
10 Day CD rate Guarantee

https://www.marcus.com/us/en/savi...-yield-cds
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Deal
Score
+22
24,731 Views
These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered. Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

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Joined Dec 2005
L6: Expert
> bubble2 1,985 Posts
996 Reputation
Pro
nohomers1
01-15-2024 at 10:28 AM.
01-15-2024 at 10:28 AM.
For people worried they might need access to the money, break it up by opening multiple CDs in smaller amounts. If you have an emergency, you withdraw from one so you don't incur the penalty on all the money.

Anyone know if this CD is callable? Anything non-callable with a 5.5% or above rate on a 1yr or greater term is good right now. Most longer term products have already cut their rates over the past month or two based on the fed's announced rate decreases.
Reply
Joined Sep 2008
Gamer
> bubble2 539 Posts
37 Reputation
cldmello
01-15-2024 at 11:23 AM.
01-15-2024 at 11:23 AM.
Quote from deptrai1 :
So true.

My family had 3 accounts with them and it was a pain in the a$$ trying to get our money out. It had to be transferred out into the same account it came from. No less than 4 lengthy phone calls to close each one.

I just have the Marcus HY savings but have had no issues with either deposits or withdrawals.

Does anyone know if we can sweep from Marcus Savings to CD and vice versa? Do all accounts at Marcus get capped at $250K for FDIC insurance or is it $250K per account?
Reply
Joined Feb 2018
L4: Apprentice
> bubble2 469 Posts
70 Reputation
cattlet1
01-15-2024 at 12:46 PM.
01-15-2024 at 12:46 PM.
Quote from duckeggs :
Def don't trust this bank lol
Why is that?
Reply
Joined Sep 2010
L8: Grand Teacher
> bubble2 3,413 Posts
780 Reputation
misel00
01-15-2024 at 03:00 PM.
01-15-2024 at 03:00 PM.
Quote from Silverriot :
The worst bank/institution I have ever worked with. No issues when depositing money but whenever I try to transfer a portion of my money to another account under my name. My account keep getting locked, the I have to call to go through several reps and several verification steps to prove my identity and to prove the other account is mine. After saying it is all good to go, my account still gets locked and have to repeat the process over and over and over and over again.
They did the same thing to me. then they lied it was fixed , nope account was locked again , spent hours on the phone , they held my money hostage . Blocked Ach withdrawal twice and was a customer for 6 years+. finally , only thing allowed was to use original funding account from years ago to get my money out. Worst bank experience i have ever had, you have been warned about there tactics !!!!!!!!!!!!!
Reply
Joined Sep 2006
L10: Grand Master
> bubble2 18,002 Posts
2,616 Reputation
Superorb
01-15-2024 at 04:54 PM.
01-15-2024 at 04:54 PM.
Quote from gt5oh :
The issue is that the Fed mentioned a possible 4x cut in 2024 and money markets, savings, treasury bills, and CDs rates will fall on that news. (in fact many rates have already started to move over last 1 month, look at the 10 year treasury Oct. 2023 vs Jan 2024)
Recent 2 reports showed that inflation is increasing again. They shouldn't be lowering rates until there has been 6+ months of inflation decreases. But it's an election year, so who knows.
Reply
Joined Jun 2021
L6: Expert
> bubble2 1,446 Posts
53 Reputation
Hawaiiana
01-15-2024 at 05:08 PM.
01-15-2024 at 05:08 PM.
Quote from BraveHealth1818 :
Got 6.17 Apy at my local credit union for 12 months. I Put some cash in there.

Which one is that?
Reply
Joined May 2018
L2: Beginner
> bubble2 41 Posts
10 Reputation
JohnO6777
01-16-2024 at 11:46 AM.
01-16-2024 at 11:46 AM.
I'll stick with my Redneck Bank rate, thanks. Go ahead and laugh at the name but they pay 5.30% with 10 debit card transactions per statement, which is easy. Couple of trips to the cheap taco place, convenience store….done! Variable rate? Yes, but not in the last year! Fee free, free bill pay, ATM reimbursement great place to park cash waiting to pay bills. Love these guys!
1
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Joined Oct 2010
L4: Apprentice
> bubble2 350 Posts
157 Reputation
lmao
01-17-2024 at 01:38 AM.
01-17-2024 at 01:38 AM.
Down to 5.35%
Reply
Joined Dec 2011
L3: Novice
> bubble2 170 Posts
78 Reputation
aavmm1010
01-17-2024 at 03:45 AM.
01-17-2024 at 03:45 AM.
The way the gov prints money makes the real inflation way higher that any investment besides Bitcoin useless against it
No matter where you put your fiat you will always lose
They have been diluting your fiat
The only safe way is Bitcoin
The only thing you can take when you die and no one can take it away from you
Bitcoin is a weapon against inflation and the system
Wake up people
2
Reply
Joined Nov 2018
New User
> bubble2 17 Posts
10 Reputation
shubhamc5575
01-17-2024 at 05:54 AM.
01-17-2024 at 05:54 AM.
It is showing 5.35% online, not 5.5%
Reply
Joined Jun 2014
L2: Beginner
> bubble2 45 Posts
10 Reputation
webbbrandon4
01-18-2024 at 12:49 PM.
01-18-2024 at 12:49 PM.
Nice I'm just gonna throw a million in there and quit my job
1
1
Reply
Joined Aug 2009
L1: Learner
> bubble2 17 Posts
10 Reputation
kcrayl
01-29-2024 at 01:56 PM.
01-29-2024 at 01:56 PM.
Quote from Silverriot :
The worst bank/institution I have ever worked with. No issues when depositing money but whenever I try to transfer a portion of my money to another account under my name. My account keep getting locked, the I have to call to go through several reps and several verification steps to prove my identity and to prove the other account is mine. After saying it is all good to go, my account still gets locked and have to repeat the process over and over and over and over again.
Agree i had same experience
Reply
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