Marcus Bank (Goldman Sachs) 14month Fixed Rate CD 5.25% APY, $500 minimum to open
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Marcus Bank (Goldman Sachs) 14month Fixed Rate CD 5.4% APY, $500 minimum to open
www.marcus.comHigh-Yield CD
5.40%
Annual Percentage Yield
14-month term$500 minimum balance
Fixed rate
APY is 5.40% with an interest rate of 5.26% as of January 22, 2024. Interest rate and APY may change at any time before account is opened and funded.
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Have you dealt with them at all? That looks like a good return.
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@angryeyebrows said in Marcus Bank (Goldman Sachs) 14month Fixed Rate CD 5.4% APY, $500 minimum to open:
Have you dealt with them at all? That looks like a good return.
Yes, I’ve had an account online with them for about 5 years. no issues. you can link external accounts to transfer money in and out. Goldman Sachs is a highly reputable financial services company.
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Is the CD callable? Can GS cash the CD before it matures?
If it’s not callable than that’s a great rate and I’ll jump on that one.
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@alanmax said in Marcus Bank (Goldman Sachs) 14month Fixed Rate CD 5.4% APY, $500 minimum to open:
Is the CD callable? Can GS cash the CD before it matures?
If it’s not callable than that’s a great rate and I’ll jump on that one.No, not callable. Typically only CD’s purchased through a brokerage account have call features.
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I did not know that Mr C… Thank You for the post and thank you for that information. Have a most excellent 2024 filled with savings!!! :@)
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@mistercheap said in Marcus Bank (Goldman Sachs) 14month Fixed Rate CD 5.4% APY, $500 minimum to open:
@alanmax said in Marcus Bank (Goldman Sachs) 14month Fixed Rate CD 5.4% APY, $500 minimum to open:
Is the CD callable? Can GS cash the CD before it matures?
If it’s not callable than that’s a great rate and I’ll jump on that one.No, not callable. Typically only CD’s purchased through a brokerage account have call features.
Where did you see that its not callable? Thanks.
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@my4mainecoons said in Marcus Bank (Goldman Sachs) 14month Fixed Rate CD 5.4% APY, $500 minimum to open:
@mistercheap said in Marcus Bank (Goldman Sachs) 14month Fixed Rate CD 5.4% APY, $500 minimum to open:
@alanmax said in Marcus Bank (Goldman Sachs) 14month Fixed Rate CD 5.4% APY, $500 minimum to open:
Is the CD callable? Can GS cash the CD before it matures?
If it’s not callable than that’s a great rate and I’ll jump on that one.No, not callable. Typically only CD’s purchased through a brokerage account have call features.
Where did you see that its not callable? Thanks.
There’s no mention of it whatsoever, banks who directly offer a CD do not ‘call’ them in the middle of the term. they simply say the rate can change in the future on NEW accounts. Also, when you buy a CD through a brokerage account you can sell it any any time on the secondary market and depending what rates are doing, you can either make money or lose money but you’d still get all your interest accrued for the time you owned it.
Conversely most bank CD’s with a 1-2 year term have a 6mo interest early termination fee on interest that actually could eat into your principal if you redeemed it 4 months after opening.
it. Trust me, CD’s you get directly from a bank do not have a callable feature unless it is specifically mentioned. There’s no mention of it being callable at Marcus. They just can’t call it 8 months later because they feel like it. a call date is predetermined in the offering when you buy a CD through a brokerage account if it is callable. No such thing exists here in this 5.4% CD.
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Hope you all opened before the rate dropped, now 5.25%
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@mistercheap said in Marcus Bank (Goldman Sachs) 14month Fixed Rate CD 5.25% APY, $500 minimum to open:
Hope you all opened before the rate dropped, now 5.25%
I saw that. I was procrastinating and missed it but maybe with inflation running hot it will pop back up?
We shall see.
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FYI. If you open the Marcus Savings account [4.50% APY], they put a lock on the funds for 90 days from account opening.
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I saw that. I was procrastinating and missed it but maybe with inflation running hot it will pop back up?
Doubt it.
