Goldman Sachs launches new online retail bank with 1.5% interest rate

Goldman Sachs opened its online Marcus bank to UK customers with a savings account offering a 1.5% interest.

The proposed rate is approximately three times higher than the average rate of existing accounts offered to savers.

The bank giant said the account was “transparent, secure and easy to use”. Launched in August for Goldman Sachs employees, it is now available to UK residents over the age of 18. Savers can deposit between £ 1,000 and £ 250,000.

McDaid, managing director of Marcus von Goldman Sachs, said: “In the last ten years, savers have been badly placed on low interest rates, we have talked a lot to people all over The economy has aroused Most adults in the UK are diligently trying to save every month, and some do not even blame a savings account with low interest rates and reduced complexity.

“We want to reverse the trend by reducing interest on savings and making it profitable.”

Mr. McDaid added, “We have made the Marcus Online Savings Account as easy as possible to open and manage online, and with the goal of offering an ever-competitive interest rate, we hope that our customers will see the benefits, it can help them reach their savings goals faster. ”

Goldman Sachs hired an additional 150 employees this year before the launch of Marcus.

Shakila Hashmi, Chief Financial Officer, said: “Goldman Sachs’ entry into the personal banking sector is expected to be good news for savers, as the first UK savings account offers three times the average savings account. savings of the main players We therefore expect a great interest for the conversion to the Marcus account in the coming weeks.

“We hope this will encourage other banks to offer better prices to their customers. The impact on competition will not only be that another new entrant offers an attractive price, Goldman Sachs is a well-known name, although its arrival on this market is very visible and eclipses the rest of the industry. “

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