Marcus by Goldman Sachs High-Yield Savings
Marcus by Goldman Sachs
Savers who want a no-minimum account from a well-known bank
A strong APY with no minimum deposit and daily compounding makes it an easy, low-friction place to grow savings.
APY4.40%
For educational purposes only — not financial advice. Learn about our editorial process
C.09 · Investing
Hit your savings goal — at what pace?
Given a target, a current balance, and a horizon, we solve for the monthly contribution that gets you there. Change any input and watch the curve bend.
Compounding
Monthly
Matches high-yield savings (HYSA) norm
Inputs
Goal amount
$50,000Current balance
$5,000Yearly return (APY)APY is the yearly interest or return after compounding. High-yield savings runs ~4–5%; investments may earn more but carry risk.
4.50%How long? (years)
5 yrsMonthly contributionLeave 0 to solve for required
$0Balance at 5 years
$50,000
You contribute
$44K
Interest earned
$6K
Goal amount
$50K
Growth over time
Balance projection
What if you change something?
Save more or save longer — which gets you there faster?
Two levers to hit a target faster: contribute more, or give it more time. Usually time wins on long horizons, pace wins on short ones.
Double monthly contribution
$94K
+$44K vs. today
Current pace · 5 yr
$50K
— baseline —
Half monthly contribution
$28K
-$21,871 vs. today
Extend by 5 yrs
$106K
+$56K vs. today
How we compute this
Solving for pace.
Given FV = P(1+r)^n + PMT × [(1+r)^n − 1] / r, fix FV to the goal, and solve for PMT: Here FV is the ending balance (your goal), P is your current balance, PMT is the monthly contribution, r is the monthly rate (annual APY ÷ 12), and n is the number of months (years × 12).
PMT = (goal − currentSavings × (1+r)n) × r / ((1+r)n − 1)When monthly contribution is 0, the calculator auto-fills with the required pace. Override to see how the curve responds to higher or lower contributions.
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Where to keep your savings
Ally Bank High-Yield Savings
Ally Bank
Savers starting small who want no minimum balance
No minimum deposit and daily compounding from a well-established online bank make this a flexible spot to park savings.
APY4.20%
Wealthfront Cash Account
Wealthfront
Digital-first savers chasing a higher rate with no minimum
One of the higher APYs here paired with no minimum deposit and daily compounding makes it appealing for digital-first savers.
APY4.50%
Frequently Asked Questions
Most financial advisors recommend 3-6 months of essential expenses. If your monthly needs are $3,000, aim for $9,000-$18,000. If your income is variable (freelancer, commission-based), lean toward 6-12 months for extra security.