Customer rating
★★★★★
★★★★★
Satisfaction survey
Good for flexibility and easy access savings accounts
Limited in the account types it has on offer
Marcus savings accounts
Marcus by Goldman Sachs offers a select range of savings accounts with interest rates up to 4%.
Goldman Sachs launched Marcus in the US in 2016 as an online savings and loans bank for the masses. A far cry from its usual approach for those with major cash to invest.
It has been pretty successful, too, taking in over $20 billion (about £15.4 billion) in savings.
Since arriving in the UK in September 2018, Marcus has consistently offered a very competitive easy-access savings account. For more information about what this account offers and whether it’s for you, read on.
Easy access savings accounts
Table: sorted by interest rate
Marcus by Goldman Sachs's best easy access rate of 3.5% is significantly lower than today's market-best rate of 5.12%.
Compare more instant and easy access accounts up to 5.12%
Cash ISAs
Table: sorted by interest rate
Marcus by Goldman Sachs's best cash ISA rate of 3.5% is lower than today's market-best rate of 4.55%.
Compare more ISAs up to 4.55%
Fixed-rate bonds
Table: sorted by interest rate
Marcus by Goldman Sachs's best fixed-rate bond rate of 4% is lower than today's market-best rate of 5.15%.
Overview of Marcus by Goldman Sachs savings
| Savings account types include | Easy access, cash ISAs, fixed-rate bonds |
|---|---|
| Best easy access rate | 3.5% |
| Best cash ISA rate | 3.5% |
| Best fixed-rate bond rate | 4% |
| Fixed bond terms | 1 year |
| Opening options | Website, mobile app |
| FSCS protection |
Is the account online?
Yes – open and manage the account online. If you wish to withdraw then log into your Marcus account and transfer money to another UK account in your name (your linked account).
Likewise, if you want to deposit money you have to transfer it in from your linked account.
What you need to open a Marcus account
- You must be aged 18 or over
- Have a UK address and be resident in the UK for tax purposes
- Have a UK current account with a sort code and account number
- Have a UK mobile phone
Is Marcus safe?
Goldman Sachs International is authorised and regulated by the Financial Conduct authority. In addition, it is covered by the Financial Services Compensation Scheme (FSCS) so your savings are covered for up to £85,000 if Goldman Sachs goes bust.
Who is this savings account for?
It’s probably not for you if you can afford to put money away for a while or you have enough to make regular deposits. Regular savings or fixed-rate savings accounts typically offer better rates.
However, if you’re looking at getting an easy-access account then this one is seriously worth considering. Some other easy-access accounts will give you one or two withdrawals a year before penalising you but Marcus gives you unlimited withdrawals and deposits. In addition, its interest rate is among the best. There is one string attached: there is a 0.25% bonus for the first 12 months so your interest rate will drop after the first year. When it does, you might consider swapping to another easy-access savings accounts.
Marcus customer reviews
In our 2023 customer satisfaction survey, Marcus scored 4.5 stars out of 5, with 74% of customers saying they’d recommend the brand to a friend.
Customers in our survey found their Marcus savings account easy to use and set up. Several also commented positvely on Marcus’ interest rates. One commented: “Easy to use online platform with extremely competitive rates”.
The Marcus app has a rating of 4.8 out of 5 from around 9,200 reviews on the App Store. On Google Play, the app has a score of 4.2 from over 1,000 Android app users (January 2023).
Our verdict: Is it worth saving with Marcus?
With unlimited withdrawals and deposits and one of the best interest rates around, Marcus’s easy-access account is seriously worth considering. Just to be sure, though, check out our other savings reviews first to make sure it’s the best choice for your money.
Frequently asked questions
Savings ratings
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
Our customer satisfaction scores ("Customers say") are based on a survey of 2,224 customers carried out in December 2022.
We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.
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Ask an Expert
I have Power of Attorney for my mother who has an account with you. Im trying to find out how I get access to the account and statements etc as the other LPA is not giving me these details etc.
Hi. You’ll need to contact the provider directly. Finder is a comparison site. Hope that helps.
If I save £40k for a year in the Marcus easy access account paying 1.5%, what will my end of year balance be by taking and reinvesting monthly interest as opposed to taking annual interest and why?
Hi Derek,
Thank you for reaching out to Finder.
Though we are not directly linked to Marcus savings a quick computation on your question reveals that on a monthly interest of 1.5% and reinvesting it into the account again would get you 47824.73. I could not compute the annual interest as I do not have a specific value to compute it on. Please reach out to Marcus Savings to get details answers to your questions. Hope this helps!
Cheers,
Reggie