You are here: Home - Saving & Banking - News -

Marcus ups rate on easy access savings account and cash ISA

Written by: Emma Lunn
The savings accounts from Goldman Sachs will both have a 0.10% bonus for 12 months from today (30 June).

The new rate on the Marcus Online Savings Account is 0.50% AER variable, including the 12-month bonus rate of 0.10% gross. The new rate on the Cash ISA is also 0.50% AER (variable), including the bonus.

Customers who open an Online Savings Account or Cash ISA with Marcus from 30 June will automatically receive this 12-month fixed-rate bonus of 0.10% gross as part of their interest rate.

Existing customers need to opt-in to take advantage of the new bonus rates. They can do this by logging into their account via the Marcus website. The bank is contacting existing customers with either of these accounts over the coming days to let them know that a bonus rate is available to opt into.

The interest rate increase shifts Marcus’ Online Savings Account to the top of the best buy tables for easy access accounts. However, other providers including Charter Savings Bank, Coventry Building Society, Cynergy Bank, ICICI Bank and Virgin Money also pay 0.5%.

The new rate for Marcus’ Cash ISA is competitive but not table topping – it’s beaten by Cynergy Bank which pays 0.54%.

Customers can save between £1 and £250,000 in Marcus’ easy access savings account. For its cash ISA they can deposit between £1 and £20,000 in the current tax year.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

The savings accounts paying the most interest

It’s time to get your finances in shape, and moving your cash savings to a higher paying deal is a good plac...

Everything you need to know about being furloughed

Few people had heard of ‘furlough’ before March 2020, but the coronavirus pandemic thrust the idea of bein...

The experts’ guide to sorting out your personal finances in 2021

From opting to ‘low spend’ months to imposing your own ‘cooling-off period’, industry experts reveal t...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Privacy Preference Center