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All rate-starved savers can now benefit from Marcus Bank s near-best buy Isa after it launched a full-scale assault on the tax-free savings market.
The Goldman Sachs-backed bank dipped its toe into the tax-free savings world last Tuesday with a 0.4 per cent Isa open only to existing customers.
However, one week later it has put the account, which is just 0.01 percentage point off the top spot, on general sale, in a boost for hopes that Isa rates will improve. It can be opened with £1.
Goldman Sachs-backed Marcus Bank has put its cash Isa on sale to all customers
It said it had closely monitored the demand for the Isa when it launched last week, having phased the launch .
Best cash Isas: Marcus Bank opens its doors to everyone a week after launch dailymail.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailymail.co.uk Daily Mail and Mail on Sunday newspapers.
The new tax year and the launch of Marcus Bank s Isa has failed to spur a revival in tax-free savings rates, with returns actually lower than they were at the start of March.
While 12 new Isa accounts, including the one from Marcus, have been launched since 6 April compared to six which have been cut or shelved, figures from the analyst Savings Champion reveal savers have been handed little joy over the last month.
Despite March and April historically being a time when banks competed for savers cash ahead of the end of the tax year, rates have fallen this year.
Best cash Isa rates: Marcus Bank fails to spark a tax-free rate war dailymail.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailymail.co.uk Daily Mail and Mail on Sunday newspapers.