If you’re looking to put in some serious long-term savings, then a Certificate of Deposit may suit your needs. Moreover, the question lies as to which bank you should open a CD with.
Goldman Sachs is among the bigger bank players in the game and they offer perhaps the most competitive CD Rates in the market with an attractive 1.40% APY on a new 12-Months CD and only a minimum of $500 in opening deposit value is necessary. Choose from terms of 6 months to 6 years and get some pretty solid returns up to 2.30% APY on top of a 10-day CD Rate Guarantee which could earn you the highest rate offered within 10 days of opening.
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Alternative CD Accounts:
- Discover Bank CD – 1.15% APY
- Ally Bank – 1.05 % APY
- Capital One 360 – 0.90% APY
Goldman Sachs Term Breakdown:
| Term | Interest Rate | APY |
|---|---|---|
| 6 Month | 0.60% | 0.60% |
| 9 Month | 0.70% | 0.70% |
| 12 Month | 1.39% | 1.40% |
| 18 Month | 1.44% | 1.45% |
| 24 Month | 1.54% | 1.55% |
| 3 Year | 1.88% | 1.90% |
| 4 Year | 1.78% | 1.80% |
| 5 Year | 2.23% | 2.25% |
| 6 Year | 2.27% | 2.30% |
Goldman Sachs CD Summary:
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- Account Type: CD account
- APY Rates:
- 0.60% – 6 Month
- 0.70% – 9 Month
- 1.40%- 1 Year CD
- 1.45% – 18 Month
- 1.55% – 24 Month
- 1.90% – 3 Years
- 1.80% – 4 Years
- 2.25% – 5 Years
- 2.30% – 6 Years
- Availability: Nationwide
- Soft/Hard Pull: Unknown
- Minimum Balance Requirement: $500
- Additional Requirements: None
- Early Withdrawal Fee: There is a fee if you withdraw before the the maturity date.
- Auto-Renewal: CD automatically renews if no change is made during 10-day grace period after CD term expires.
Goldman Sachs CD Account Features:
- Terms from 6 months to 6 years
- Maximum customer deposit limits apply
- Low $500 minimum deposit
- 10-day CD Rate Guarantee
- Choose your monthly interest disbursement
- Early withdrawal penalties will apply
- FDIC insurance up to the maximum allowed by law
Conclusion:
It’s nice to see Goldman Sachs expanding their products to the public for a change. Here’s what you should expect: When you open a Goldman Sachs CD Account with a minimum opening of $500 attached, you will be able to choose your terms from 0.60% APY – 6 Month to 2.30% – 6 Years.
I’m sure that most of you will be quite fond with their widely popular 1.40% APY on their 1 Year CD. Keep in mind that early withdrawal penalties will apply and CD automatically renews if no change is made during 10-day grace period after CD term expires. Be sure to also check out our complete list of the Best CD Rates for all your banking needs!
 With the American Express® High Yield Savings Account: • Earn 1.90% APY as of 9/15/22 on your deposits. Your High Yield Savings account earns interest daily and is posted to your account monthly. • Links easily with your current bank accounts. No need to switch banks. • FDIC Insured. Your account is insured to at least $250,000 per depositor. • 24/7 Account Access |
