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Marcus Rate Down to 0.40%

135

Comments

  • crumpet_man
    crumpet_man Posts: 651 Forumite
    500 Posts Fourth Anniversary
    Chip+ 1.25% have raised the limit on which the bonus is payable, now £10000 up from £5000, might be worth a look for some?
  • Alistair31
    Alistair31 Posts: 969 Forumite
    Seventh Anniversary 500 Posts Name Dropper
    Just emptied my account and put in club Lloyds account. 
  • EthicsGradient
    EthicsGradient Posts: 1,136 Forumite
    1,000 Posts Fifth Anniversary Photogenic Name Dropper
    edited 17 March 2021 at 5:56PM
    While the MSE page is now listing UBL's account at 0.45%, but only allowing 1 withdrawal per month, as the best 'instant' account, with Marcus now listed next at 0.4%, Cynergy is still offering an unlimited withdrawal account at 0.45% (and apparently open to new customers - their cash ISA at 0.5% is noted as only for existing customers, but they don't put such a qualification on the 0.45% account).
    https://www.cynergybank.co.uk/personal-savings/online-easy-access-account/online-easy-access-account-issue-36/

    Oh well, that was quick - this afternoon, Issue 36 became Issue 37, with 0.40% interest. C'est la vie.
  • ratechaser
    ratechaser Posts: 1,674 Forumite
    Seventh Anniversary 1,000 Posts Name Dropper
    Next year's ISA will NOT be cash based! To think I consider myself lucky to have got one at 1.51% with OakNorth with a year left to run. That's how far my expectations have been managed.

    I think that now is the time to put any spare cash to work - have got lots of home and garden improvements planned for this year!
  • talexuser
    talexuser Posts: 3,504 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    I think that now is the time to put any spare cash to work - have got lots of home and garden improvements planned for this year!
    Which is exactly the plan to get the economy going again.
  • chelseablue
    chelseablue Posts: 3,303 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Debating what to do now, I've got £26,000 in Marcus
    I've just opened the Coventry regular saver (1.05%) so could drip feed £500 a month into that, that will get rid of £6k over 12 months. 
    Maybe keep £10k in Marcus as my emergency fund (unless anything else pays more than 0.40%?)
    That leaves £10k to go in my S&S ISA perhaps 

  • jimjames
    jimjames Posts: 18,264 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Debating what to do now, I've got £26,000 in Marcus
    I've just opened the Coventry regular saver (1.05%) so could drip feed £500 a month into that, that will get rid of £6k over 12 months. 
    Maybe keep £10k in Marcus as my emergency fund (unless anything else pays more than 0.40%?)
    That leaves £10k to go in my S&S ISA perhaps 

    What other accounts do you have? Various current accounts paying between 2% (Virgin) to 0.6% (Lloyds) on different amounts of money though how long they last is unknown when rates have dropped elsewhere
    Remember the saying: if it looks too good to be true it almost certainly is.
  • chelseablue
    chelseablue Posts: 3,303 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    jimjames said:
    Debating what to do now, I've got £26,000 in Marcus
    I've just opened the Coventry regular saver (1.05%) so could drip feed £500 a month into that, that will get rid of £6k over 12 months. 
    Maybe keep £10k in Marcus as my emergency fund (unless anything else pays more than 0.40%?)
    That leaves £10k to go in my S&S ISA perhaps 

    What other accounts do you have? Various current accounts paying between 2% (Virgin) to 0.6% (Lloyds) on different amounts of money though how long they last is unknown when rates have dropped elsewhere
    I have 2 current accounts:
    Halifax and Nationwide Flex Direct 
    Apart from Marcus and Coventry the other savings account I have is a Nationwide Loyalty Saver 15yr Issue 8 (don't use any more as the interest rate dropped to 0.25% so need to close it really)
  • @chelseablue - Doubling your interest by the look of it 👍

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