Goldman Sachs entering UK Savings market

[Sarah]

Marcus dropped their interest rate to 0.50% on 11 December 2020 and it will decrease further to 0.40% from 1 April 2021.

[planteria]

not worth bothering, with better options available.

[Sarah]

Well, I guess every little helps...

There’s currently a 12-month fixed bonus of 0.10% gross available on our Online Savings Account. There's no need to open a new account. You can simply add the bonus to your existing account.

You can add this bonus rate to your account by following the steps below.

About the bonus rate

• You’ll start earning interest on the new rate immediately after you add it to your account.
• Once the 12 months is up, the bonus rate will end and you’ll return to earning interest at the underlying rate, which is variable.
• You can renew the bonus on your account at any time, as long as there is a bonus rate available.

How to add a bonus to your account

1. Log into your Marcus account at marcus.co.uk.
2. Select 'View' next to your Online Savings Account to display your account activity.
3. Scroll down, then select ‘Review your savings’ under ‘Bonus rates’.

You’ll need to log in using a web browser, as you won’t be able to renew the bonus using our app.

Just done this, it makes their rate 0.50%... which is better than some!

[Sarah]

Marcus online savings account interest rate just went up to 0.60% AER/gross, including the 0.10% bonus for new and existing customers. Saga is also a Goldman Sachs brand paying the same rate.

[Sarah]

The interest rate has now climbed back to 1.00% (including bonus).

[Sarah]

New underlying interest rate
1.05% AER/1.04% gross* (variable)

Not including 0.10% bonus.

[Sarah]

Marcus bonus rate now increased to 0.25% making their overall interest rate 1.30% during the bonus period (which isn't limited to new customers; existing customers can also activate the bonus).

[Sarah]

New underlying interest rate
1.25% AER/1.24% gross* (variable)

Not including 0.25% bonus.

[Sarah]

New underlying interest rate
1.55% AER/1.54% gross* (variable)

Not including 0.25% bonus.

[Sarah]

New underlying interest rate
1.75% AER/1.74% gross* (variable)

Not including 0.25% bonus. Takes effect from 18 October.