Marcus Bank AARP 0.10% APY Rate Boost, CD Special, Free AARP Membership

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This is a multi-part deal, but you may already have some of these accounts. Marcus is the online banking arm of Goldman Sachs. AARP members are eligible for two member benefits at Marcus:

  • 0.10% APY rate increase to the Online Savings rate for 24 months. As of 7/29/20, that means 1.15% APY instead of 1.10% APY.
  • Special 8-month No-Penalty CD at 1.10% APY as of 7/29/20. Their standard No-Penalty CD is 0.90% APY for 7 months.

AARP membership is targeted at those age 50+, but there is no actual age restriction. I’ve been a member in the past, as AARP has offered a variety of member benefits that can be quite valuable. Insurance discounts, hotel discounts, restaurant discounts, and so on. If only younger folks had such a well-organized association! The standard membership fee is $16/year, but it drops to $12/year if you sign-up for auto-renewal with a credit card on file (you can still cancel at any time).

Swagbucks is a popular points website, and you can currently get 1,200 Swagbucks for joining AARP through their site. 1,200 Swagbucks is worth $12 in Amazon gift cards, which you can think of as offsetting the AARP annual membership fee. If you are a member, log in and search for “AARP”. If you are not a member yet, join via my Swagbucks referral link and earn a $3 referral bonus + an additional $10 bonus if you spend at least $25 through their shopping portal within 30 days of registration. (There are even some money-making offers on Swagbucks like donating $15 to the Sierra Club and getting 4,000 Swagbucks in return worth $40 in Amazon gift cards.)

Taken altogether, you can get the 0.10% APY rate boost, special CD access, and a year of AARP membership (including many other perks) all at zero net cost. Thanks to reader Bill P for the tip.

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned. MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.



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Comments

  1. Michael Anderson says

    A minor point that might matter to the older AARP crowd…Marcus will not let you specify beneficiaries to your account without providing valid social security numbers. I verified this with customer support at the time. Still, the 8-month no-penalty CD looks appealing. Note that their early withdrawal penalties on regular CDs are extreme! They charge 270 days interest penalty on a 12 month CD that is closed early, so be certain about those 12 months!

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