Goldman Sachs’ online banking arm Marcus now offers a nine-month CD at 4.05% APY, representing the top short-term yield in the current market. The product targets savers seeking higher fixed returns on deposits under one year.

Short-term certificates of deposit are generally providing around 4% APY, while longer-term yields have flattened or inverted due to expectations of future rate cuts. This inversion reflects market uncertainty and signals that banks may struggle to offer steeper premiums on longer maturities.

By leading the pack on CD rates, Goldman Sachs aims to attract additional retail deposits while managing cost of funds. Higher deposit rates could bolster its funding base but may weigh on net interest margins if competitors match or exceed these yields.