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Marcus Bank CD Rates: 12-Month Term 1.90% APY (National)


Marcus Bank CD rates on 12-month certificates of deposit are currently at 1.90% APY, one of the best 1-year CD rates available right now. Besides the 1-year rate, Marcus Bank CD rates on both short-term and long-term CDs are some of the highest rates available. There is a complete list of current CD rates below.





Marcus Bank CD Summary

  • 6-Month 1.05%
  • 7-Month 0.45% (no penalty)
  • 9-Month 1.10%
  • 11-Month 0.35% (no penalty)
  • 12-Month 1.90%
  • 13-Month 1.25% (no penalty)
  • 18-Month 2.00%
  • 2-Year 2.25%
  • 3-Year 2.50%
  • 4-Year 2.50%
  • 5-Year 2.90%
  • 6-Year 2.90%

Marcus Bank Best CD Rates

In my opinion, Marcus' best CD rates are on the bank's 6-month CD. The 6-month rate is the best because CD rates are increasing right now thanks to the Fed increasing the fed funds rate. The Fed will probably continue to increase the rate this year and in 2023, driving CD rates higher. I personally wouldn't lock my funds in a long-term CD while bank rates are increasing. Lock your funds in when rates peaks, which again will probably be sometime in 2023.

Conclusion and Review

Besides offering some of the highest rates available right now, Marcus Bank also offers many features with their CDs. The 7-, 9- and 13-month CDs have no penalty for an early withdrawal, the minimal opening balance for all CDs is only $500, and Marcus has a 10-day rate guarantee. If you fund your account within 10-days of opening it and CD rates move higher, you will also get the higher rate.

 
Author: Brian McKay
July 1st, 2022