Goldman Sachs's Marcus Offers 4% APY on 9-Month CD to Boost Deposits
Goldman Sachs's Marcus platform is offering a top 4% APY on a 9-month certificate of deposit, the highest rate available today. This competitive CD rate could attract significant retail deposits, bolstering the bank's low-cost funding and potentially enhancing its net interest margin.
1. Marcus CD Rate Details
Goldman Sachs's Marcus platform is offering 4% APY on its nine-month certificate of deposit, the highest rate among major financial institutions today. The CD interest compounds daily, meaning a $10,000 deposit would earn approximately $407.42 in interest over the term.
2. Impact on Goldman Sachs’s Funding and Margin
This high-yield CD is designed to attract new retail deposits, strengthening Goldman Sachs's low-cost funding base. Increased deposit inflows could reduce reliance on more expensive wholesale funding and potentially improve the bank's net interest margin in a rising rate environment.