Citizens Access vs Marcus High-Yield Savings (September 2026): 2.80% vs 3.50% APY
Written & reviewed by Hans Goldstein, EA, independent licensed insurance producer · CA license 4273294 · NPN 20602398Admitted to practice before the IRS
Rates checked on each bank's site on September 24, 2026 · Updated
Marcus pays more: 3.50% APY vs 2.80% at Citizens Access. On $50,000 kept for a year at today's rates that is about $350 more interest at Marcus. Both rates are variable. Citizens Access: 8-month online CD at 4.00% APY with $5,000 minimum (rate dated 07/28/2026). Marcus: Same-day transfers of $100,000 or less to and from other banks. Both are FDIC-insured to $250,000 per depositor, per ownership category.
Savings account vs MYGA, after tax
What $100,000 earns in 5 years: savings account vs MYGA, after tax
Rates used: Savings account 4.00%, the top online savings rate we tracked (bank sites, September 24, 2026); savings rates can change any day; 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).
| Savings account, interest taxed every year | $116,604 |
|---|---|
| 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 savings account, after tax | $9,531 |
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.
Side by side
| Citizens Access Savings | Marcus Online Savings | |
|---|---|---|
| APY | 2.80% APY | 3.50% APY |
| Rate as of | July 17, 2026 (the date the bank shows; checked Sept 24, 2026) | Sept 24, 2026 |
| Minimum to open | Not stated on the savings page | $0 |
| Fees | No fees | No fees |
| Checking | No checking account listed | No checking account listed |
| ATM access | No ATM card listed | No ATM card listed for savings |
| Stand-out feature | 8-month online CD at 4.00% APY with $5,000 minimum (rate dated 07/28/2026) | Same-day transfers of $100,000 or less to and from other banks |
| FDIC insurance | Citizens Bank, N.A. (Citizens Access is a division), FDIC cert 57957; deposits at both count toward one limit | Goldman Sachs Bank USA, FDIC cert 33124 |
$50,000 for one year at today's rates
| Citizens Access | Marcus | |
|---|---|---|
| APY used | 2.80% | 3.50% |
| Interest in year one (if the rate held) | $1,400 | $1,750 |
| After 24% federal tax | $1,064 | $1,330 |
Both rates float. On September 16, 2026 the Federal Reserve raised its federal funds target range by 0.25 point to 3.75% to 4.00% (effective September 17), after 1.75 points of cuts between September 2024 and December 2025. A higher Fed target does not force either bank to raise its savings rate; each sets its own.
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.
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When Citizens Access is the better pick
- No fees.
- 8-month CD at 4.00% APY ($5,000 minimum) for money you can lock briefly.
Watch: 2.80% trails Marcus's 3.50%. Citizens Access and Citizens Bank deposits share one FDIC limit.
When Marcus is the better pick
- No fees and no minimum deposit.
- Same-day transfers of $100,000 or less to and from other banks, per Marcus.
- Backed by Goldman Sachs Bank USA.
Watch: No checking account or ATM card listed on Marcus's savings pages. The rate is variable; Marcus says maximum balance limits apply.
Neither is the top rate
Online savings rates cluster. If rate is the only thing that matters, these paid more the same week:
| Other savings rates the same week | APY | As of |
|---|---|---|
| Live Oak Bank Personal Savings | 4.00% | Sept 8, 2026 (bank's date) |
| Sallie Mae High-Yield Savings | 3.85% | Sept 24, 2026 |
| Marcus Online Savings | 3.50% | Sept 24, 2026 |
| Synchrony High Yield Savings | 3.30% | Sept 24, 2026 |
| FDIC national average, savings | 0.37% | Sept 21, 2026 |
Marcus Online Savings vs. a 5-year MYGA
Savings is the right home for emergency money. For money you will not touch for three to five years, a multi-year guaranteed annuity fixes a higher rate and defers the tax.
| $250,000 for 5 years | Marcus Online Savings (if 3.50% held) | 5-yr MYGA at 5.50% |
|---|---|---|
| Rate | 3.50% APY, variable | 5.50%, fixed for the term |
| Tax on interest | Every year (1099-INT) | Deferred until withdrawn |
| Value after 5 years, after 24% federal tax | ~$283,100 | ~$308,300 (tax paid at the end) |
| Protection | FDIC, $250,000 per depositor, per ownership category | Insurer claims-paying ability + state guaranty association (limits vary by state) |
| Getting money out | Any time | Surrender charge above the free-withdrawal amount; IRS 10% penalty before 59½ |
About $23,200 more after tax on the MYGA if the savings rate held all five years (24% federal bracket, state tax ignored). Savings rates are not fixed, so the real gap depends on where they go. Fixed annuity benchmark: carriers rated A or better topped out around 5.50% to 6.05% on 5-year compound-interest MYGAs, per public carrier rate sheets, October 14, 2026. Rates vary by state, premium and carrier.
Annuity vs CD · Current MYGA rates · HYSA or MYGA for 3-year money
Citizens Access vs Marcus: FAQ
Which pays more, Citizens Access or Marcus?
Marcus: 3.50% APY vs 2.80% at Citizens Access (rates as of Sept 24, 2026 and July 17, 2026 (the date the bank shows; checked Sept 24, 2026), checked September 24, 2026). Both rates are variable.
What is the Citizens Access Savings rate?
2.80% APY, as of July 17, 2026 (the date the bank shows; checked Sept 24, 2026).
What is the Marcus Online Savings rate?
3.50% APY, as of Sept 24, 2026.
Are Citizens Access and Marcus FDIC insured?
Yes. Citizens Bank, N.A. (Citizens Access is a division), FDIC cert 57957; deposits at both count toward one limit; Goldman Sachs Bank USA, FDIC cert 33124. Coverage is $250,000 per depositor, per insured bank, per ownership category.
Do I get an ATM card?
Citizens Access: No ATM card listed. Marcus: No ATM card listed for savings.
Savings or a MYGA for money I won't need for years?
For 3-to-5-year money, a MYGA usually pays more and fixes the rate: A-rated-or-better insurers paid roughly 5.50%-6.05% on 5-year MYGAs on October 14, 2026, with the interest tax-deferred. Keep emergency money in FDIC-insured savings.
My take
Marcus pays more today (3.50% vs 2.80%). Pick on the features you will use, keep emergency cash in savings, and get a MYGA quote for money you will not touch for three to five years.
Hans Goldstein is an independent licensed insurance producer (CA license 4273294, NPN 20602398) and is not affiliated with Citizens Access or Marcus by Goldman Sachs. Rates are copied from the sources named, as of the date shown; savings rates are variable and can change the day after you read this. MYGA figures are illustrations, not quotes.
Run the MYGA vs savings math for your situation
Talk to Hans Goldstein, a licensed independent insurance producer.
Marcus pays 3.50% APY, variable. A-rated 5-year MYGAs were paying about 5.50%-6.05% on October 14, 2026, fixed for the term and tax-deferred.
Send your details. Within one business day you get a written side-by-side sized to your dollar amount and term, and a free 15-minute call if you want one.
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Related reading
This page is general information for educational purposes; it is not a personalized recommendation, solicitation, or offer of any specific bank product. APYs change frequently (typically monthly), and the rates shown here are approximations as of the date above. Always confirm current rates and fees directly on the bank's website before opening an account. Hans Goldstein is an independent licensed insurance producer (NPN 20602398); he does not receive compensation from any bank discussed on this page. FDIC insurance limits apply ($250,000 per depositor, per ownership category, per insured bank). Annuity products mentioned on this page are insurance contracts with surrender charges and are regulated by state insurance commissioners; they are not FDIC-insured. Always read the actual contract and consult a licensed advisor before purchasing any annuity product.