Marcus raises savings rate again to 1.5%

Marcus by Goldman Sachs is boosting savings account rates for the fifth time this year.

From today, the interest rate on its Online Savings Account and Cash Isa will rise from 1.3 per cent to a competitive 1.5 per cent.

This is the best cash Isa savings rate on the market and among the best easy-access savings rates. Existing customers will automatically get the new deal.

Both accounts also include a 12-month fixed-rate bonus of 0.25 per cent, which has not changed since it was raised in June.

Marcus is also increasing the interest rate on its 1 Year Fixed Rate Saver from 2 per cent to 2.2 per cent.

To open an account, customers need just £1 and can save up to £250,000. You can save up to £20,000 into an Isa each year.

Last month, we revealed how Britain’s biggest High Street banks are betraying savers by stubbornly keeping rates at rock-bottom.

The worst offender was Barclays which pays customers with its easy-access account just 0.01 per cent — or a miserly 10p for every £1,000 saved.

A Marcus spokesman says: ‘We are committed to offering competitive interest rates to our customers.’