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Goldman cuts its market-leading savings rate less than a year after account launch

Sep 05, 2019 - The Daily Telegraph (London)

GOLDMAN SACHS has cut the rate on its once market-leading Marcus savings account for new savers.

The decision comes less than a year after the launch of the account, which made headlines for offering a sign-up rate of 1.5pc for the first year, dropping to 1.35pc thereafter.

At the time this far exceeded all other easy-access accounts and attracted 50,000 customers in just two weeks.

New joiners are being offered 1.45pc, also falling to 1.35pc after 12 months.

Savers can s...