Goldman Sachs entering UK Savings market

[AAAlphaThunder]

Marcus have a 1 Year fixed rate (1.00%) available now instead of the easy access account.

NS&I Direct Saver pays the same, so could be a better option if you need that type of account.

Your knowledge is exceptional.

[Sarah]

Marcus are dropping their easy access interest rate again on 12 October 2020.

It will be reduced from 1.05% to 0.70%.

[planteria]

i'm long gone from Marcus.. i can't see why anyone would continue with them now.

[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.

This nevertheless still makes it the highest paying conventional easy access savings account available to new customers, according to current MSE listings (also matched by RCI Bank's Freedom Savings Account paying the same 0.40% rate).

[planteria]

if that's the best available, play a different game.
such as Bitcoin generating 6%.
or Pounds with local Co-op generating 2.25%.

[Luke_PieStalker]

What are you all doing with your savings out of interest?

[planteria]

not leaving them in 'Savings' is the key LPS..
investing in equities, investing in funds, stashing in Bitcoin, a little bit in cash with local Co-ops.