Goldman Sachs' Marcus Offers 4.10% APY on 14-Month CD
GS•Goldman Sachs’ Marcus division is offering a 14-month certificate of deposit at 4.10% APY, the highest among short-term CDs today. The competitive yield aims to attract retail depositors to Goldman Sachs’ platform, potentially boosting its low-cost funding base.
1. Marcus by Goldman Sachs Launches 14-Month CD at 4.10% APY
On July 4, Marcus by Goldman Sachs introduced a 14-month certificate of deposit offering 4.10% APY, marking the highest rate available for short-term CDs. The offering reflects the Federal Reserve’s steady interest rate environment and positions Marcus competitively against online banks and credit unions.
2. Implications for Goldman Sachs' Deposit Growth
The elevated CD yield is designed to draw retail savers to Marcus’ platform, potentially boosting Goldman Sachs’ low-cost deposit base. Increased retail holdings could support the bank’s lending and investment operations without resorting to higher-cost wholesale funding sources.
