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New Marcus Bonus Rate
Posted: June 30th, 2021, 1:54 pm
by AJC5001
Marcus have today announced a new 0.10% bonus on their savings account. Lasts for 12 months and makes the new total rate 0.5%.
https://www.marcus.co.uk/uk/en/savings/online-savings-accountExisting account holders can add the new bonus by logging in and asking for it to be included. I've just done mine
Adrian
Re: New Marcus Bonus Rate
Posted: June 30th, 2021, 2:06 pm
by Laughton
Ooooh! Many thanks for that.
Every little helps.
Re: New Marcus Bonus Rate
Posted: June 30th, 2021, 2:12 pm
by AleisterCrowley
Existing account holders can add the new bonus by logging in and asking for it to be included
Why can't they just...add it automatically?
Or is it a reward for you giving them the opportunity to cross sell other products ?!
Re: New Marcus Bonus Rate
Posted: June 30th, 2021, 4:17 pm
by Gersemi
AleisterCrowley wrote:Existing account holders can add the new bonus by logging in and asking for it to be included
Why can't they just...add it automatically?
Or is it a reward for you giving them the opportunity to cross sell other products ?!
Thank you, I've now sorted that as well.
If they do see it as an opportunity to cross sell other products it's very subliminal!
Re: New Marcus Bonus Rate
Posted: June 30th, 2021, 4:31 pm
by AleisterCrowley
I'm not tempted, to be honest, although I need a home for my Investec High5 money which is due shortly
Probably stick max in equities ISA and remainder in Premium Bonds (and beer)
Re: New Marcus Bonus Rate
Posted: July 1st, 2021, 8:55 am
by mutantpoodle
well I am not as tech friendly as you guys
I logged in and cannot see how or where to 'request' the bomus
if its open to al and has no strings attached,l I dont understand why they dont just add it to all existing customers
unless they think masses will not know or bother...so saving them money??
anyway
a quick telephone call resolved it easilly
Re: New Marcus Bonus Rate
Posted: July 1st, 2021, 10:52 am
by Hypster
Log into your Marcus account at marcus.co.uk.
2. View your Online Savings Account.
3. Select ‘Review your savings’ under ‘Bonus rates’.
You’ll need to log in using a web browser, as you won’t be able to renew the bonus using our app.
Re: New Marcus Bonus Rate
Posted: July 1st, 2021, 2:25 pm
by chas49
Hypster wrote:Log into your Marcus account at marcus.co.uk.
2. View your Online Savings Account.
3. Select ‘Review your savings’ under ‘Bonus rates’.
You’ll need to log in using a web browser, as you won’t be able to renew the bonus using our app.
Note that (for me at any rate) the bonus was only available on my Online Savings Account and not on my Maturity Saver (also paying 0.4%). Fortunately it was only a couple of minutes work to move all the funds from the latter to the former, and then accept the bonus. (Probably should have accepted it first just in case it went away...)
Re: New Marcus Bonus Rate
Posted: September 29th, 2021, 3:33 pm
by Gan020
And today they have raised the interest rate by 0.1% to 0.6% including the bonus.
Re: New Marcus Bonus Rate
Posted: September 29th, 2021, 3:43 pm
by pje16
so just 2.6% lower than inflation - why bother
Re: New Marcus Bonus Rate
Posted: September 29th, 2021, 5:17 pm
by Laughton
pje16 wrote:so just 2.6% lower than inflation - why bother
Got to keep that "just in case money" somewhere.
Re: New Marcus Bonus Rate
Posted: September 30th, 2021, 7:39 am
by mutantpoodle
do we have to log in and ask for it again
or is it a proper rate increase?
Re: New Marcus Bonus Rate
Posted: September 30th, 2021, 8:35 am
by Gan020
mutantpoodle wrote:do we have to log in and ask for it again
or is it a proper rate increase?
Nothing for you to do. It's been applied by Marcus to your account.
Re: New Marcus Bonus Rate
Posted: September 30th, 2021, 11:30 am
by chas49
Gan020 wrote:mutantpoodle wrote:do we have to log in and ask for it again
or is it a proper rate increase?
Nothing for you to do. It's been applied by Marcus to your account.
But check that there isn't a bonus also available. The underlying rate (as they call it) is 0.5% - the bonus is 0.1% - to get the full 0.6%.
FWIW I accepted the bomus a few days ago, and it's still available, so I just click to get it for a few more days. (Might earn a whole 1p ! )
Re: New Marcus Bonus Rate
Posted: September 30th, 2021, 3:49 pm
by richlist
pje16 wrote:so just 2.6% lower than inflation - why bother
Is there somewhere with the same level of risk that pays inflation or better ? Please let us know.
Re: New Marcus Bonus Rate
Posted: September 30th, 2021, 4:06 pm
by stevensfo
richlist wrote:pje16 wrote:so just 2.6% lower than inflation - why bother
Is there somewhere with the same level of risk that pays inflation or better ? Please let us know.
Actually, pje16 is being very kind. He's using the CPI.
If you use the RPI (4.8%), that includes council tax, train fare increases, insurance etc, then the difference is 4.2% lower than inflation.
Nope, there is no instant access account that offers the same return for the same risk.
But there are fixed rate accounts that offer better terms.
Steve
Re: New Marcus Bonus Rate
Posted: September 30th, 2021, 5:06 pm
by Laughton
stevensfo wrote:richlist wrote:pje16 wrote:so just 2.6% lower than inflation - why bother
But there are fixed rate accounts that offer better terms.
But how will you feel if/when interest rates start climbing and you're stuck.
Re: New Marcus Bonus Rate
Posted: September 30th, 2021, 5:20 pm
by pje16
They haven't risen since 2008, so I'm not holding my breath
Re: New Marcus Bonus Rate
Posted: September 30th, 2021, 5:32 pm
by stevensfo
Laughton wrote:stevensfo wrote:richlist wrote:
But there are fixed rate accounts that offer better terms.
But how will you feel if/when interest rates start climbing and you're stuck.
I use a 1 year fixed term ladder.
Interest rates have to be taken in context. They may be of interest, but the overall objective is to stay ahead of inflation.
RPI is 4.8%.
Steve