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GooseInTheCaboose

macrumors 6502
Original poster
Apr 2, 2022
290
176
I got an email minutes ago from Marcus that they are raising the savings account interest rate to 3.9%.

(I think it was 3.75 before)

This is suspiciously close to the launch of the Apple Savings account with Goldman Sachs.

I suspect that they are doing this so that their savings rates remain competitive with the Apple savings account and that the Apple savings rate will be the same.

This could be indicative of lots of different things..or nothing! What do you think? It is a data point…we will find out in a few days (the 17th!)
 

newyorksole

macrumors 603
Apr 2, 2008
5,124
6,429
New York.
yesss I came here looking for this post! I check what my APY is every few days lol and noticed tonight it’s 3.9% even though I didn’t get an email.

I like Marcus and their app, but if Apple is going to be the same or 4%… then I’m going to transfer my money lol. the less apps/accounts I have the better.

Apple offers 1% back on regular Apple Card purchases, 2% back using Apple Pay, 3% on Apple Store purchases and they should come out the gate with 4% APY on their savings account. let’s see!
 

GooseInTheCaboose

macrumors 6502
Original poster
Apr 2, 2022
290
176
Haha yes I will also transfer if the rate is better, even by a tiny bit, because altho the Marcus UI is good the Apple Card UI will be great!

I’d like to see what the 5% will be lol
 
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BeatCrazy

macrumors 603
Jul 20, 2011
5,009
4,343
Haha yes I will also transfer if the rate is better, even by a tiny bit, because altho the Marcus UI is good the Apple Card UI will be great!

I’d like to see what the 5% will be lol
Do you know if Marcus calculates interest earned by daily balance, monthly average, or ??
 
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