Marcus raises interest rates to offer attractive savings options
Headline: Savers Score Big: Marcus Raises Fixed-Term Savings Rate to 4.55%
In good news for savers, Goldman Sachs' investment platform, Marcus, has upped its fixed-term savings rate to a whopping 4.55%! Here's what you need to know:
This new offering makes Marcus one of the top fixed-rate savings accounts available in the market. However, this deal is only available for a limited time, so don't miss out!
With this deal, savers can deposit up to £250,000 into the account. It's important to note that under the Financial Services Compensation Scheme (FSCS), a maximum of £85,000 per person, per banking licence is protected.
If you decide to put £1,000 into the account, you could potentially earn £1,045.50 after a year, according to Marcus. But remember, withdrawals are not allowed, and there's a fee for early account closure.
Looking at recent trends, it's no surprise that Marcus is offering competitive rates. Research shows that 27% of UK savers have been actively shopping around for better rates since interest rates by the Bank of England were cut.
Rob Basinger, head of product and marketing for Marcus, is excited about the new rate. He remarks, "This new offer reflects our ongoing effort to constantly review movements in the market and offer competitive products that support our customers in reaching their financial goals."
Unfortunately, more than half of the adults in the UK (over 55%) have their savings languishing in zero or low-interest current or savings accounts, according to Spring Savings by Paragon Bank. So, if you're among them, look into the top savings accounts available now, offering rates as high as 5%!
Grab Marcus's 4.55% Saver Today!
Ready to unlock this market-leading savings account? Access it via Marcus's website. To be eligible, you must be a UK resident aged 18 or older.
You'll need to provide an email address and phone number, and you can manage the account online once it's open. Just keep in mind that you can only deposit up to £250,000, and you must do so within the first 14 days of account opening.
Good luck boosting your savings with Marcus! After all, every penny counts, and with rates like these, your pennies could really start to add up!
Looking for insights on other competitive savings accounts in the UK market? Here's a roundup of the top picks:
Top Fixed-Rate Savings Accounts in Mid-2025
- Cynergy Bank: Offers a one-year fixed bond at 4.55% AER with a minimum deposit of £1,000. Interest is paid at maturity, and the account can be managed online.
- Castle Trust Bank: Provides a one-year fixed bond at 4.51% AER with a £1,000 minimum deposit. Interest payment options include monthly or yearly, and the account is accessible via internet or mobile app.
- Vanquis Bank: Also offers a 4.51% AER one-year fixed bond with a £1,000 minimum deposit. It allows monthly or yearly interest payments and offers online management.
- Cynergy Bank (Cash ISA): For tax-free savings, it provides a one-year fixed cash ISA at 4.35% AER with a £500 minimum deposit. Interest is paid at maturity.
- Hodge Bank (Cash ISA): Offers a one-year fixed ISA at 4.32% AER with a £1,000 minimum deposit, and it pays interest monthly or at maturity.
Don't forget that these accounts are protected by the Financial Services Compensation Scheme (FSCS) up to £85,000, ensuring the safety of your savings!
With the increased savings rate of 4.55%, opening a fixed-term savings account with Marcus could potentially help you grow your personal-finance significantly. In comparison, other top fixed-rate savings accounts in the market, such as Cynergy Bank, Castle Trust Bank, Vanquis Bank, Cynergy Bank (Cash ISA), and Hodge Bank (Cash ISA), also provide competitive interest rates, placing gold as a valuable consideration for your savings plan within the realm of finance and personal-finance.
