APY (13-mo)
3.80%
Marcus No-Penalty CD Review (2026)
Quick take: Marcus No-Penalty CDs pay 3.75% (7-month), 4.00% (11-month) and 3.80% (13-month) APY as of September 26, 2026, with full withdrawal allowed after the first 7 days, no penalty, no partial withdrawal (full balance only). Marcus Online Savings paid 3.50% on September 24, 2026, so the 11-month term is the one that earns a real premium.
Marcus No-Penalty CD rates, checked on marcus.com (APY as of September 26, 2026)
| Term | APY | Source, as of |
|---|---|---|
| 7-month No-Penalty | 3.75% | marcus.com, APY as of 9/26/2026 |
| 11-month No-Penalty | 4.00% | marcus.com, APY as of 9/26/2026 |
| 13-month No-Penalty | 3.80% | marcus.com, APY as of 9/26/2026 |
| Online Savings (for comparison) | 3.50% | marcus.com, 9/24/2026 |
$500 minimum. Full balance can be withdrawn without penalty starting seven days after funding. Rates change weekly. Other rate figures further down this page are as of June 27, 2026.
Hero stats · Marcus No-Penalty 13-Month CD
Insurance
FDIC
Min Deposit
$500
EWP
None (after first 7 days)
As of
2026-09-26
CD vs MYGA, after tax
What $100,000 earns in 5 years: CD vs MYGA, after tax
Rates used: CD 5.00%, the top nationally available 5-year CD (Bankrate, October 14, 2026); change it to the rate you are offered. MYGA 5.95%, the best A-rated rate we track as of October 13, 2026: Delaware Life Pinnacle Plus 5-year (AM Best A-, negative outlook, 7/31/2026), $100,000 and up, effective October 6, 2026 (Delaware Life rate sheet).
| CD, interest taxed every year | $121,081 |
|---|---|
| MYGA, tax-deferred, before tax | $133,507 |
| MYGA after paying tax on all the interest at withdrawal | $126,136 |
| Tax deferral alone adds about | $674 |
| MYGA ahead of the CD, after tax | $5,055 |
Assumes 22% federal and 0% state income tax, no withdrawals, rates held for the whole term. MYGA interest is taxed as ordinary income when you withdraw it, not as capital gains. Gains taken before age 59 1/2 can owe a 10% IRS penalty, and cashing out early can cost a surrender charge. In an IRA both grow tax-deferred, so the edge there is the rate alone. Bank and credit union deposits are FDIC or NCUA insured up to the limits; a MYGA is backed by the issuing insurer's claims-paying ability and your state's guaranty association up to its limits, not the FDIC. General education, not tax, legal or financial advice.
Marcus CD rates, full term ladder
The no-penalty 13-month CD highlighted on this page is one of several terms Marcus offers. Here's the full ladder so you can compare:
| Term | APY |
|---|---|
| 7-Month No-Penalty | 3.75% |
| 11-Month No-Penalty | 4.00% |
| 13-Month No-Penalty (this page) | 3.80% |
| Marcus Online Savings (9/24/2026) | 3.50% |
| 1-Year Standard CD | 3.90% |
| 5-Year Standard CD | 4.35% |
APYs as printed on marcus.com as of September 26, 2026 (Online Savings as of September 24, 2026). Confirm the rate on the Marcus site before funding.
Rate alert
Rates expire like milk.
The best MYGA, CD and savings rates change every few weeks. Get a short email when a rate on this page changes.
We’ll email you when a rate on this page changes. Hans Goldstein · NPN 20602398.
Rather talk it through? Or book 15 minutes on Hans’s calendar.
Pros and cons
Pros
- Three No-Penalty terms; the 11-month pays the most (4.00% on 9/26/2026)
- Backed by Goldman Sachs, strong balance sheet
- Low minimum deposit ($500)
- 10-day rate guarantee: get the higher rate if Marcus raises within 10 days of funding
- Clean mobile app, fast funding from external bank
Cons
- Heavy 270-day interest early withdrawal penalty on terms ≥12 months
- No partial withdrawals, full balance only on early exit
- 13-month No-Penalty rate sits below the 11-month
- No checking account or ATM card
- Limited automation between Marcus CDs and external banks
How the Marcus No-Penalty 13-Month CD compares to peers
At the no-penalty 13-month term, this is how this CD stacks up against the most-shopped competitors:
| Bank | No-Penalty 13-Month APY |
|---|---|
| Marcus No-Penalty | 4.40% |
| Ally No-Penalty 11mo (9/24/2026) | 2.70% |
| Synchrony No-Penalty 11mo | 4.35% |
| CIT Bank No-Penalty 11mo | 4.15% |
For a broader view of top no-penalty 13-month rates across 30+ banks and credit unions, see Best 5-Year CD Rates 2026.
When a MYGA beats this CD
A Multi-Year Guaranteed Annuity (MYGA) is the insurance-industry equivalent of a CD: lock a fixed rate for a fixed term, principal-protected. MYGAs are not a substitute for 13-month liquid money; for money that can stay put five years, A-rated 5-year MYGAs were paying about 5.50-6.05% on October 14, 2026 (public carrier rate sheets).
Math at $250,000 over 5 years (using simple annual compounding):
- Marcus No-Penalty 13-Month CD @ 4.40%: $310,058 ending balance
- 3-year (with 10%/yr free withdrawal) MYGA @ 5.40%: $325,194 ending balance
- Difference: $15,137 in favor of the MYGA
MYGAs also defer tax on interest until withdrawal, CDs are taxed annually as ordinary income whether you touch the interest or not. The trade-off: MYGAs have a fixed surrender schedule (usually with 10%/yr free withdrawal); CDs have shorter penalty periods. For taxable retirement money you don't plan to touch, the MYGA almost always wins. See CD vs MYGA Comparison for the full breakdown.
Lock in now or wait?
Short answer: lock in at least a portion now. The Treasury curve is not inverted: on September 25, 2026 the 3-month bill yielded 4.24% and the 10-year note 5.17% (U.S. Treasury par yields), and the Fed raised its target range to 3.75-4.00% on September 16, 2026. Nobody knows the next move. Locking part of your cash removes the guesswork; if rates rise, the unlocked part catches it.
Practical move: ladder. Put 1/3 in a 1-year CD or MYGA, 1/3 in a 3-year, and 1/3 in a 5-year. You capture today's still-elevated rates on the long end while keeping liquidity rolling.
FAQ, Marcus No-Penalty 13-Month CD
What is the current Marcus No-Penalty 13-Month CD rate?
As of September 26, 2026, marcus.com lists the 13-month No-Penalty CD at 3.80% APY (7-month 3.75%, 11-month 4.00%). Rates change frequently, confirm on the Marcus website before opening.
Is the Marcus No-Penalty 13-Month CD FDIC-insured?
Yes. Marcus by Goldman Sachs is FDIC-insured up to $250,000 per depositor, per ownership category. Couples with joint accounts get $500,000 of coverage.
What is the minimum deposit for the Marcus No-Penalty 13-Month CD?
$500. If you have more to deposit, FDIC coverage caps at $250,000 per depositor per bank, split large balances across multiple institutions if needed.
What is the early withdrawal penalty?
None (after first 7 days). Withdraw before maturity and the penalty is deducted from your interest (or principal if interest isn't enough). Plan your maturity date carefully.
Can I add money to my Marcus CD after opening?
No, like most traditional CDs, this is a single-deposit account. To add funds, you must open a new CD at the rate available at that time.
What happens at maturity?
Marcus typically gives you a 10-day grace period to withdraw, change terms, or accept auto-renewal at the current posted rate. Set a calendar reminder, auto-renewal often locks you in at a worse rate.
Should I pick a CD or a MYGA at this term?
A MYGA is not a 13-month product; for five-year money, A-rated 5-year MYGAs were paying about 5.50-6.05% on October 14, 2026 (public carrier rate sheets). MYGA interest is tax-deferred (CDs are taxed annually). Trade-off: MYGAs have surrender schedules; CDs have shorter penalty periods. For taxable retirement money, the MYGA usually wins. See CD vs MYGA Comparison.
Related reading
- Marcus full bank CD review
- Best 5-Year CD Rates 2026: 30+ banks compared
- CD vs MYGA: which one fits your money?
- Best MYGA Rates 2026: current top carriers
Before you lock in, get the MYGA comparison
Hans Goldstein, independent licensed insurance producer.
If you're considering the Marcus No-Penalty 13-Month CD, you should see what a 3-year (with 10%/yr free withdrawal) MYGA from an A-rated carrier pays at the same risk level. Often it's 50-150 basis points higher, with tax deferral.
Send your details and you'll get a written side-by-side: this CD vs. the top 3 MYGAs at the same term, with end-of-term math at your actual deposit amount. We’ll email it to you.
Rather talk it through? Or book 15 minutes on Hans’s calendar, or call 213-414-2808.
Hans Goldstein · 213-414-2808 · NPN 20602398, independent licensed insurance producer appointed with multiple A-rated carriers
We’ll email it to you. Hans replies within one business day. Privacy Policy.
Disclosure
This review reflects publicly posted bank rates; the rate table at the top was checked on marcus.com in late September 2026. CD rates change frequently, confirm current rates directly with Marcus by Goldman Sachs before opening an account. This article is general information for educational purposes; it is not a personalized recommendation, solicitation, or offer of any specific banking or insurance product. Marcus by Goldman Sachs is FDIC- or NCUA-insured to the limits stated; coverage is per depositor, per ownership category. Hans Goldstein is an independent licensed insurance producer (NPN 20602398) appointed with multiple A-rated annuity carriers; he is NOT a bank employee, broker-dealer, or registered representative, and is not paid by Marcus by Goldman Sachs for this review. No compensation has been received from Marcus by Goldman Sachs in connection with this content. MYGA comparisons reference rates from A-rated carriers as of the date stated; carrier rates change monthly. Always read the actual CD disclosure or annuity contract before purchasing.