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Marcus cutting rates
Stompa
Posts: 8,376 Forumite
Just had an email from them:
"Savings interest rates have declined over the past few months. To reflect this, we'll be lowering the interest rate on your Marcus account by 0.05%, effective from 10 March 2020."
"Savings interest rates have declined over the past few months. To reflect this, we'll be lowering the interest rate on your Marcus account by 0.05%, effective from 10 March 2020."
Stompa
2
Comments
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Got the same this morning.#145 Save £12k in 2016 Challenge: £12,062.62/£12,000.00 Beginning Balance: £5,027.78 CHALLENGE MET
#060 Save £12k in 2017 Challenge: £11,03.70/£12,000.00 Beginning Balance: £12,976.79 Shortfall: £996.30:eek:
This is the secret message.0 -
Something else to look forward to in my inbox - not!!How's it going, AKA, Nutwatch? - 12 month spends to date = 2.60% of current retirement "pot" (as at end May 2025)0
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It's been all gloom this week, TSB cutting rates, Sky increasing prices and now Marcus.Don't wait for your ship to come in, swim out to it.0
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Marcus have already reduced their variable rate for new customers to 1.30%/1.29% (AER/Gross). I assume this means that those who fixed their rates at 1.50% until late summer will also have their rate reduced to 1.45% from 10th March.
I still have 1.50% on my Virgin Money Double Take and NatWest Savings Builder but I guess they will also be reduced in due course.0 -
This is the first time that GS have reduced the variable rate. Previous moves were to reduce and eventually remove the fixed bonus rate for new applicants. Existing account holders had the option of renewing the fixed bonus for another year last summerRG2015 said:Marcus have already reduced their variable rate for new customers to 1.30%/1.29% (AER/Gross).
You didn't fix the rate at 1.50%, you renewed your bonus. The rate received is made up of a fixed bonus (if any) and a variable rate that will be reduced to 1.30% AER from 1.35% so will affect all account holdersRG2015 said:I assume this means that those who fixed their rates at 1.50% until late summer will also have their rate reduced to 1.45% from 10th March.
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Hmm... has anyone else not received this email?0
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Yes, myself!
Wonder why? or are they just working their way through a long list?0 -
Or emails are being sent in batches, possibly in alphabetical order? I haven't received mine yet, and my surname is towards the end of the alphabet.TUVOK said:Yes, myself!
Wonder why? or are they just working their way through a long list?1 -
My surname is towards the end of the alphabet and I have received the e-mail, MrsM has not though.
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