personal finance

Marcus and Saga slash interest rates on top easy-access accounts in fresh blow to savers


The popular Marcus savings account launched in September 2018, and at the time had a market-leading rate of 1.5 percent – which includes a 0.15 percent bonus.

However, since December, it has offered 1.35 percent without the bonus.

Meanwhile, the interest rate changes to fixed and variable savings products announced by NS&I will be effective from May 1, 2020.

Ian Ackerley, NS&I Chief Executive, said: “Reducing interest rates is always a difficult decision. We need to ensure our interest rates are set at an appropriate position against those of our competitors.

“These changes reflect NS&I’s requirement to strike a balance between the needs of our savers with taxpayers and the stability of the broader financial services sector.



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