Investing
Goldman’s Marcus Raises High-Yield Savings Rate to Pre-Pandemic Level
The popular online bank’s flagship product inches up to 1.7% annualized rate as savers battle inflation.
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Goldman Sachs Group Inc.’s consumer bank Marcus is offering the highest interest rate for its high-yield savings account since the pandemic began.
The firm raised its annual percentage yield to 1.7%, up from 1.5% at the end of July. The last time Marcus boasted a rate that high was in early 2020, before central banks around the world cut interest rates in response to the spread of Covid-19.