Investment bank Goldman Sachs will launch details of its first savings account available to UK savers later this week.
It is holding its cards close to its chest as to what the exact rate will be, but says that it aims to be in at the top of the best buy tables. It is expected to pay a rate of around 1.5% on the online easy access account, which could spark more competition in a dull savings market. The accounts will be launched under the brand name Marcus.
On easy access Cash Isas, the best rate comes from Virgin Money’s Double Take E-Isa at 1.36% but you are limited to making two withdrawals a year.
Yorkshire Building Society has a rate of 1.35% on its Single Access Isa which restricts you to making withdrawals on just one day in a year – and you are moved into a lower paying account after the first 12 months.
The top rate with no withdrawal restrictions is Shawbrook Bank Easy Access Cash Isa 4 at 1.3%.
This article was first written for our sister website Money Observer.