Online bank Marcus boosts easy-access rates to 3.3%
Online bank Marcus raises easy access rates to 3.3%… but rival Chip leads the way with its 3.5% offer
As of today, online bank Marcus will increase the interest on both easily accessible savings accounts.
Marcus, which is backed by Goldman Sachs, now pays 3.3 percent into his online savings and cash Isa accounts — or 3.26 percent per month.
The underlying rate will remain the same, but the bonus, paid to those who opt for a year, will increase from 0.25 percentage point to 0.34 point.
Rate increase: Marcus, which is backed by Goldman Sachs, now pays 3.3% on its online savings and cash Isa accounts – or 3.26% per month
The higher bonus is available to new and existing customers starting today.
Those whose bonus has expired – thus earning the underlying lower rate – can apply to have a bonus added for 12 months. Those who still receive the old bonus of 0.25 points can apply for the new higher rate.
The average easy-access bill currently pays 1.99 percent, according to Moneyfacts, though the highest rate on the market is offered by an app-based chip at 3.55 percent.
The Marcus account can only be opened and managed online or via the app and any money being paid in or out must be transferred to a linked UK checking account.