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Virgin Money is increasing the interest rate on its popular Easy Access Cash ISA Exclusive for the second time in two months. From Friday 4th November, the interest rate rises from 2.25% AER (tax free), as introduced in early October, to a market-leading 3.00% AER (tax free) for all new and existing customers. Rates are variable.

Virgin Money’s Easy Access Cash ISA Exclusive is only available to eligible current account customers. The interest rate increase will be automatically passed on to existing customers. The Easy Access Cash ISA Exclusive allows customers to top up and take money out whenever they like, and customers are able to easily manage their ISA account by registering for online and telephone banking.

The rate increase from Virgin Money follows the Bank of England’s latest base rate increase to 3% - the biggest hike in more than three decades - and offers a market-leading rate for customers looking to maximise the return on their savings.

Hugh Chater, Chief Commercial Officer at Virgin Money, said: “Increasing the interest rate on our Easy Access Cash ISA Exclusive means Virgin Money customers can make their savings work harder. We know lots of people are feeling the pinch right now, which is why we’re pleased to offer this new rate to give both new and existing customers a savings boost.”

Customers need to have or open a Virgin Money Current Account in order to apply for a Virgin Money Easy Access Cash ISA Exclusive. Further information about opening a Virgin Money Easy Access Cash ISA can be found at: Easy Access Cash ISA Exclusive | ISAs | Savings | Virgin Money UK

This ISA is open to customers with a current account from Virgin Money, Clydesdale Bank or Yorkshire Bank (apart from our Essential Current Account or any account opened with Northern Rock). Customers need to apply for a Virgin Money Easy Access Cash ISA Exclusive.

You can pay in up to £20,000 in the current tax year, and there's no limit on previous years’ ISA transfers.

You can only subscribe to one Cash ISA in any tax year. If you want to transfer your current year's subscriptions, then the full amount must be transferred.