Marcus - increase to the underlying interest rate

milton1970

RG2015 said:

I now have the following options.

Marcus 0.50%
Tesco Bank 0.59%
Coventry 21 day 0.65%
Coventry 4 Access 0.65%

Tesco looked good when I opened it a couple of days back. Now it looks redundant although the 24/7 genuine instant access is a plus.

Marcus though remains my personal favourite and this 0.10% increase is very welcome. If only it had gone to 0.65% (or more). 

Marcus is 0.6% with bonus rate .. just a few button clicks on website

RG2015

milton1970 said:

RG2015 said:

I now have the following options.

Marcus 0.50%
Tesco Bank 0.59%
Coventry 21 day 0.65%
Coventry 4 Access 0.65%

Tesco looked good when I opened it a couple of days back. Now it looks redundant although the 24/7 genuine instant access is a plus.

Marcus though remains my personal favourite and this 0.10% increase is very welcome. If only it had gone to 0.65% (or more). 

Marcus is 0.6% with bonus rate .. just a few button clicks on website

Thanks. That was the whole point of this thread!

I will amend my post.

andreww111

milton1970 said:

RG2015 said:

I now have the following options.

Marcus 0.50%
Tesco Bank 0.59%
Coventry 21 day 0.65%
Coventry 4 Access 0.65%

Tesco looked good when I opened it a couple of days back. Now it looks redundant although the 24/7 genuine instant access is a plus.

Marcus though remains my personal favourite and this 0.10% increase is very welcome. If only it had gone to 0.65% (or more). 

Marcus is 0.6% with bonus rate .. just a few button clicks on website

I'm happy to lose say 0.05% on Marcus vs a best buy because the withdrawals are quick 

wiseonesomeofthetime

I have

Tandem 0.65%
Marcus 0.60%
Tesco 0.59%
Atom 0.50%

Favourite is Tesco. Multiple linked accounts and very quick deposit and withdrawal transfer rates.

IvanOpinion

With current inflation rates that just means you are losing slightly less money.
It is time the banks came out with realistic savings products.

schiff

My feeder account for the monthly RSs was Skipton, when that closed down I restarted my Marcus account and I'm obviously happy with the uplift to 0.60%. I don't have the others being discussed but I do have some second layers that I can call on when maturities don't cover the RS SOs:

Club Lloyds £5000 0.78% (in effect)
Club Lloyds RS 1.00% (unlimited withdrawals)
Lloyds Monthly RS 1.00% (currently) (unlimited withdrawals)
Coventry First Home Saver 0.85% (unlimited withdrawals) - just starting to build
Nationwide Start to Save 1.00% (unlimited withdrawals) - just starting to build

All my regular savers pay more than 1.00%.

RG2015

schiff said:

All my regular savers pay more than 1.00%.

Sorry to be pedantic, but do you mean 1% or more, or definitely more than 1%?

schiff

1.10% (to end soon) to 3.50%. I do have one at 1.0% - Lloyds monthly, but that's for withdrawing from if the situation ever arises. The new rate on that is 0.75% and when it matures I'll think about whether to renew.

I drew the line at 1.00%, only opening/continuing if there were advantages - like the Lloyds accounts. I had the feeling - which turned out to be right - that RS interest rates would move upwards. 

RG2015

I drew the line at less than 1%, but with FD and HSBC at 2.75% and Coventry ay 1.55% maturing shortly, I may wait before renewing at !% or 1.05%.

That just leaves Nationwide and TSB at 1% maturing next year.

Thrugelmir

IvanOpinion said:

With current inflation rates that just means you are losing slightly less money.
It is time the banks came out with realistic savings products.

There's no shortage of cash looking for a home. Banks have no need to overpay for their funding.