Goldman Sachs' Marcus 9-Month CD Offers 4.05% APY, Highest Short-Term Rate
Goldman Sachs’ Marcus 9-month CD yields 4.05% APY, the top short-term rate versus roughly 4% APY on six- to 12-month CDs. Following 11 Fed rate hikes from March 2022 to July 2023 and three rate cuts in 2025, CD yields remain elevated by historical standards.
1. Marcus' 4.05% APY 9-Month CD Tops Rates
Marcus by Goldman Sachs currently offers the highest CD rate at 4.05% APY on a nine-month term, exceeding the roughly 4% APY available for six- to 12-month CDs at other institutions. This rate advantage positions Marcus as a leading provider of competitive fixed-income products in the current rate environment.
2. Federal Funds Rate Impact
Between March 2022 and July 2023, the Federal Reserve raised its benchmark rate 11 times, driving CD yields upward, before implementing three rate cuts in 2025 that initiated a gradual pullback from peak levels. Despite these adjustments, CD yields remain high by historical standards and show a flattened yield curve as 12-month terms now offer the highest average APYs.
3. Implications for Goldman Sachs
By offering competitively high CD rates, Goldman Sachs is positioned to attract additional retail deposits, strengthening its funding base while potentially increasing interest expense. The balance between deposit inflows and higher funding costs will be a key determinant of the bank’s net interest margin as lending rates adjust.