Fresh blow to savers as interest slashed on Marcus and Saga top easy-access accounts – MSE News

MSE_Petar

Savers have been dealt another big blow after the interest rates of the two top-paying easy-access accounts were today cut to 1.3% - and existing customers will also be affected in the next few weeks...

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Interest slashed on Marcus and Saga top easy-access accounts

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ColdIron

Slashed? It's a reduction of five one hundredths of one percent. That's a fiver per £10,000 per year or two coffees

harz99

Yep, 0.05% less on Marcus from March 10th.

RG2015

ColdIron said:

Slashed? It's a reduction of five one hundredths of one percent. That's a fiver per £10,000 per year or two coffees

1.35% minus 1.30% is indeed a reduction of 0.05%. However 0.05 divided by 1.35 is 3.70%.

Hence this reduction is simultaneously a reduction of 0.05% and 3.70% 

cloud_dog

Interest slashed on Marcus and Saga top easy-access accounts

Are MSE headline posts being written by ex-Daily Wail writers?

colsten

Heading towards 0%.

cloud_dog

RG2015 said:

1.35% minus 1.30% is indeed a reduction of 0.05%. However 0.05 divided by 1.35 is 3.70%.
Hence this reduction is simultaneously a reduction of 0.05% and 3.70% 

Pendant alert....
Unfortunately no, tis either.... the 1.35% rate has been reduced by 0.05 or it has been reduced by 3.7%
(((sorry, couldn't stop myself)))

AnotherJoe

RG2015 said:

ColdIron said:

Slashed? It's a reduction of five one hundredths of one percent. That's a fiver per £10,000 per year or two coffees

1.35% minus 1.30% is indeed a reduction of 0.05%. However 0.05 divided by 1.35 is 3.70%.

Hence this reduction is simultaneously a reduction of 0.05% and 3.70% 

So reduced by 3.75% then? So now is negative 2.4%? Yikes !

Consumerist

Pendant alert....
Unfortunately no, tis either.... the 1.35% rate has been reduced by 0.05 or it has been reduced by 3.7%
(((sorry, couldn't stop myself)))

Shouldn't that have been "PEDANT alert..." ?

Here's another one:

... the 1.35% rate has been reduced by 0.05 percentage points. . . 

ColdIron

Consumerist said:

Pendant alert....
Unfortunately no, tis either.... the 1.35% rate has been reduced by 0.05 or it has been reduced by 3.7%
(((sorry, couldn't stop myself)))

Shouldn't that have been "PEDANT alert..." ?

I was going to comment but thought I'd hang on ...

molerat

I wonder how many other banks will be changing their T&Cs to only 14 days notice, one to watch out for !