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New Marcus Bonus Rate

Discussing offers, rates and deals on suppliers
AJC5001
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New Marcus Bonus Rate

#423728

Postby AJC5001 » June 30th, 2021, 1:54 pm

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-account

Existing account holders can add the new bonus by logging in and asking for it to be included. I've just done mine :)

Adrian

Laughton
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Re: New Marcus Bonus Rate

#423735

Postby Laughton » June 30th, 2021, 2:06 pm

Ooooh! Many thanks for that.
Every little helps. :D :D :D

AleisterCrowley
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Re: New Marcus Bonus Rate

#423736

Postby AleisterCrowley » June 30th, 2021, 2:12 pm

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 ?!

Gersemi
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Re: New Marcus Bonus Rate

#423766

Postby Gersemi » June 30th, 2021, 4:17 pm

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!

AleisterCrowley
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Re: New Marcus Bonus Rate

#423770

Postby AleisterCrowley » June 30th, 2021, 4:31 pm

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)

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Re: New Marcus Bonus Rate

#423883

Postby mutantpoodle » July 1st, 2021, 8:55 am

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

Hypster
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Re: New Marcus Bonus Rate

#423914

Postby Hypster » July 1st, 2021, 10:52 am

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.

chas49
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Re: New Marcus Bonus Rate

#423997

Postby chas49 » July 1st, 2021, 2:25 pm

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...)

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Re: New Marcus Bonus Rate

#446321

Postby Gan020 » September 29th, 2021, 3:33 pm

And today they have raised the interest rate by 0.1% to 0.6% including the bonus.

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Re: New Marcus Bonus Rate

#446325

Postby pje16 » September 29th, 2021, 3:43 pm

so just 2.6% lower than inflation - why bother :roll:

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Re: New Marcus Bonus Rate

#446354

Postby Laughton » September 29th, 2021, 5:17 pm

pje16 wrote:so just 2.6% lower than inflation - why bother :roll:


Got to keep that "just in case money" somewhere.

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Re: New Marcus Bonus Rate

#446466

Postby mutantpoodle » September 30th, 2021, 7:39 am

do we have to log in and ask for it again
or is it a proper rate increase?

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Re: New Marcus Bonus Rate

#446481

Postby Gan020 » September 30th, 2021, 8:35 am

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.

chas49
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Re: New Marcus Bonus Rate

#446528

Postby chas49 » September 30th, 2021, 11:30 am

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 ! )

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Re: New Marcus Bonus Rate

#446646

Postby richlist » September 30th, 2021, 3:49 pm

pje16 wrote:so just 2.6% lower than inflation - why bother :roll:


Is there somewhere with the same level of risk that pays inflation or better ? Please let us know.

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Re: New Marcus Bonus Rate

#446654

Postby stevensfo » September 30th, 2021, 4:06 pm

richlist wrote:
pje16 wrote:so just 2.6% lower than inflation - why bother :roll:


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

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Re: New Marcus Bonus Rate

#446678

Postby Laughton » September 30th, 2021, 5:06 pm

stevensfo wrote:
richlist wrote:
pje16 wrote:so just 2.6% lower than inflation - why bother :roll:


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.

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Re: New Marcus Bonus Rate

#446681

Postby pje16 » September 30th, 2021, 5:20 pm

They haven't risen since 2008, so I'm not holding my breath

stevensfo
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Re: New Marcus Bonus Rate

#446691

Postby stevensfo » September 30th, 2021, 5:32 pm

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


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