Goldman Sachs Group Inc (NYSE:GS) said its digital savings account Marcus has attracted 100,000 customers in just 40 days since opening in the UK.
The easy access account, named after the banking giant’s founder Marcus Goldman, was launched in the UK on 27 September with a savings rate of 1.5%, including a fixed 0.15% bonus for 12 months.
The savings rate at Marcus is among the top on offer, according to MoneySavingExpert.com, and allows for unlimited penalty-free withdrawals. An account can be opened with £1 and customers can put in up to £250,000
Des McDaid, managing director of Marcus, said the number of customers that it has signed up to the bank shows “just how frustrated savers were with the low interest rates on offer”.
“People work hard for their money, so we’re delighted at how quickly savers have given their savings the benefit of a competitive interest rate,” he said.
“We must be one of the fastest growing banks in the UK right now.”
READ: Goldman Sachs's Marcus account proves popular with UK savers
Royal Bank of Scotland Group PLC (LON:RBS) recently launched a 1.5% rate for its easy access account but only for savings up to £10,000 and customers need to be putting in at least £50 a month to earn the interest.
In comparison, Barclays PLC (LON:BARC) offers a rate of just 0.25% on savings up to £49,000 or 0.30% for savings between £50,000 to £10mln.
Lloyds Banking Group PLC (LON:LLOY) has a rate of 0.20% for its easy saver account while HSBC Holding PLC (LON:HSBA) has a 0.15% rate on its flexible savings bank for basic account holders or 0.25% for advance and premier clients.