Marcus Bank: $100 Bonus on $10,000 Deposit (New and Existing Customers)

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New deposit bonus back again for 2022. Marcus by Goldman Sachs is offering a $100 bonus if you deposit $10,000+ in new funds into their online savings account within 10 days of enrollment at this special offer page. Valid for both new and existing customers. You must enroll by 2/16/2022 and maintain the new $10,000+ deposit for 90 days. They have done a similar promotion in past years (and it’s nice that you can keep doing it). Thanks to reader Bill P who sent this in.

Offer available to new and existing customers. Each customer is limited to one cash bonus offer. This Offer can only be applied once to an account. If an account has multiple owners, the account is limited to being enrolled for this Offer under one account owner and receiving one cash bonus. Remaining account owners may be eligible to use another eligible account to enroll in this offer. This Offer may be combined with other promotional offers available to Marcus Online Savings Account customers.

New customer referral offer of 1% APY for first 3 months. If you don’t have a Marcus account yet, if you open with a Marcus referral link from an existing customer, you will get an extra 0.50% on all your balances for 3 months. Right now, that means 1% APY for the first 3 months. I believe that the referrer gets the same. That’s my referral link, thanks if you use it! I’d open and get the referral offer first, and then later enroll in this $100 offer as an existing customer.

Bonus math. This is a 1% bonus on $10,000 if you keep it there for 90 days, which makes it the equivalent of ~4% APY annualized. The bonus is on top of the standard interest rate, currently 0.50% APY as of 1/19/2022. (0.60% APY for AARP members.) This total of roughly 4.5% APY over 90 days makes it a great short-term rate at that balance size when compared to my January 2022 update of best interest rates. I have gotten the bonus in the past with no issues.

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Comments

  1. I like the bonus process at Marcus as once you enroll they will provide exact dates for every step.

  2. My Marcus referral link if anyone would like to use it:

    http://www.marcus.com/share/PAU-N49-DE8Q

  3. This is a great offer as I’m also an AARP member. I signed up and then went back and added the $100 offer. I funded the account when I signed up and the transfer is currently processing. I’m hoping that my original funding qualifies for the $100 bonus added after the fact due to the delay in transfer. The AARP account has to be added externally. In other words, I asked, they commented that I needed to call and have a representative attach my AARP account manually for the additional APY. Thanks for all that you do Jonathan! I am working really hard to fund my retirement and every little bit helps. You always provide such great information and it is very much appreciated.

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