Saving deals plunge further: Goldman Sachs cuts rate on Marcus account

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Saving offers plunge further: Goldman Sachs cuts rate on its popular Marcus account from 1.2% to 1.05%

By Sylvia Morris For The Daily Mail

Published: | Updated:

Goldman Sachs cut the rate on its online saver, Marcus, from 1.2% to 1.05%

Savings rates on easy-access accounts continue to fall at an alarming rate.

The latest blow comes from Goldman Sachs which today cut the rate on its online saver, Marcus, from 1.2 per cent to 1.05 per cent. 

The lower rate comes into effect for new customers immediately and for existing customers from May 30. It is the second cut this month. On May 7 the rate was trimmed from 1.3 per cent to 1.2 per cent. Despite this, Marcus is still one of the best paying easy-access deals around.

RCI Freedom Account still pays 1.2 per cent but this could soon be forced down, too.

Ford Money has reopened its Flexible Saver to new savers, paying 1.07 per cent. 

And Shawbrook Bank cut the rate on its easy-access account for new savers from 1.15 per cent to 1 per cent yesterday.

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