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Marcus savers urged to act now to bag bonus easy access rate

Marcus savers urged to act now to bag bonus rate: Goldman Sachs account is top easy-access deal at 0.5%

About 700,000 savers were given a boost last week when the popular Marcus account raised its rate to 0.5 per cent.

This means the online offering from Goldman Sachs has the best easy-access rate on the market.

The bank previously paid 0.4 per cent but is now offering savers the option of adding a fixed bonus of 0.1 percentage points, payable for a year. 

Rate rise: Goldman Sachs online-only Marcus account has the best easy-access rate on the market at 0.5%

When savers open an account they will receive the new rate automatically. But those who already have one must ask to have the bonus added. 

To claim it you must log in to your account using a web browser because you can’t renew the bonus through the bank’s app.

Then click on Dashboard. This shows the account name and number in the first column, followed by your rate and your balance. 

In the fourth column is a ‘view’ option. Click on that then scroll down to the bottom of the page where you then click on ‘review your savings’ then ‘renew your bonus’.

The bank has also added a 0.1 percentage point bonus to its Cash Isa account, launched in April, bringing the rate up to 0.5 per cent.

Charter Savings Bank also pays 0.5 per cent on its Easy Access issue 21. 

Unlike the Marcus account, you can open it through the post as well as online but the minimum investment required is £5,000, against just £1 with Marcus.

Coventry Building Society’s new easy-access Limited Access Saver, available in branches, online, by phone or through the post, also pays 0.5 per cent but limits you to making six free withdrawals a year.

Savings accounts