Marcus Bank Referral Program Doubles APY Savings Rate Of Referrer & New Member (1.00% APY)

Update 7/21/22: see updated details on this program in this newer post.

Update 9/17/21: Marcus has now changed the offer to doubling the current savings rate for 3 months for referrer and new member. Given the current .50% regular savings rate, referrer and new member will now get 1.00% APY for 3 months.

Update 1/24/21: They’ve increased the limit from 3 referrals per calendar year to 5 referrals per calendar year. Hat tip to reader Chase

Original Post:

Marcus bank introduced a referral program whereby the referrer and the new member get a bonus of .20% APY added to their Marcus online savings account rate for 3 months. For example, if the regular savings account rate is 1.00%, both the referrer and the new member earn 1.20% APY for the next three months.

Marcus Referral Terms

Additional details:

• You can earn a maximum of 3 5 Referral Bonuses in each calendar year.
• A Referral Bonus will automatically start 2 business days following a Successful Referral.
• If you are already receiving a Referral Bonus, the next Referral Bonus you earn will begin on the day after your current Referral Bonus expires. Only one Referral Bonus will be applied to your OSAs at any given time.
• Referral offer is valid from October 22, 2020 through December 31, 2020.
• The new member gets the referral bonus of .20% APY if they haven’t had a Marcus savings account or CD in the past 12 months.

You can find your referral link under the My Account tab at the top-right corner in your Marcus login. Do not leave your referral link in the comments below, you can find and leave links in this dedicated post.

Related: Marcus Bank: AARP Members Get .10% APY Increase In Savings Account Rate