The existing promotional interest rate for MariBank is currently 2.88% but that will change on 1 July 2024 to 2.7%.
Are you always on the lookout for the best deals to grow your savings? If so, you’re not alone.
In this article, we’ll look into the latest change in interest rates for the Mari Savings Account, why I’m not keeping my money there, and explore some alternatives. Whether you’re looking for a hassle-free savings account or higher returns with easy access, there’s something here for everyone.
Table of Contents
The existing promotional interest rate on all balances (subject to max. deposit) is currently 2.88%, but that will change on 1 July 2024.
It was supposed to revert back to 2.5% p.a. but MariBank has decided to extend the (lower) promo rate to the end of the year.
2.5% Base Interest Rate From 1 January 2025
As always, the prevailing base rate of 2.50% p.a. shall apply thereafter unless the promo rate is further extended.
There are no changes to the other aspects of the Mari Savings Account.
Why I Don’t Keep Money In My Mari Savings Account
Mari Savings Account is a fantastic, no-frills savings account that offers a higher return than Trust Bank and GXS Bank.
That said, I am currently not keeping any of my money inside my Mari Savings Account, and the reason is simple.
Within the same ecosystem, Mari Invest (usually 3.5% to 4% p.a.) offers higher returns and provides instant withdrawals of up to $10,000 daily.
This means that Mari Invest performs like a pseudo-bank account to me and has more than sufficient liquidity for much of my daily use if needed.
I have written plenty on Mari Invest (read my review here), so I’m not going to be repeating myself
