Currently Marcus by Goldman Sachs is offering the same APY for a 7-Month No-Penalty CD and for an Online savings account. enter image description here AFAIU a savings account has full liquidity, while the CD forces you to stay the entire term to see the APY. Is that true and if so, why would anyone opt for the 7-Month No-Penalty CD?

2 Answers 2


The particular CD is 7-Month No-Penalty CD :

No-Penalty CD. Lock in a great rate without locking in your money

With our No-Penalty CD, you get the power to earn a competitive fixed rate, plus the flexibility to withdraw your full balance if you need it beginning 7 days after funding.

Whether you want to save for a financial goal or simply lock in a competitive rate, consider a No-Penalty CD for a guaranteed rate of return.

That means that you can get out of the CD after 7 days if you can find a better deal. So if the rates rise then you can still get out (same as the savings account), but if the rates drop you are locked in. You get the best of both worlds.


If rates drop, being locked into the CD will be better.

If rates rise, not being locked into the CD will be better since money market rates will rise.

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