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

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(Update: Marcus has a new referral program for new customers. If you open with a Marcus referral link, you will get an extra 0.20% on all your balances for 3 months. I believe that the referrer gets the same. That’s my referral link, thanks if you use it!)

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 2/12/2021 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 Bill P and others who sent this in.

Yes. after enrollment, you must deposit $10,000 or more in new funds (internal transfers won’t count) into a Marcus Online Savings Account within 10 days of enrollment and maintain at least $10,000 of those new funds in your account in addition to your account balance at the time of enrollment for 90 consecutive days from the date of reaching the required dollar amount.

Each customer is limited to one bonus offer, which can only be applied to a single account. For eligibility purposes, each joint owner will be treated as a separate customer. For example, if you apply the bonus offer to a joint account, the remaining joint owner(s) may apply this offer to another account they own if they have not done so already.

The bonus will be deposited into your account within 14 days after fulfilling all of the bonus requirements.

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 1/18/21. (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 2021 monthly update of best interest rates. I have gotten the bonus in the past with no issues.

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

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