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Virgin Money has launched a rewarding bonus offer for Stocks and Shares ISA customers who open a 1 Year Fixed Rate E-Bond Exclusive cash savings account.

Customers who top up or transfer £5,000 or more, online, to a new or existing Virgin Money Stocks and Shares ISA between 1 July and 30 September 2024 can receive a bonus rate of 2.00% AER/Gross PA for the full term applied to the same cash amount in the savings account. The total interest rate on this savings product, including the bonus rate, offers customers a market-leading rate of 6.65% AER/Gross PA. The 1 Year Fixed Rate E-Bond Exclusive account must be opened between 1 July and 7 October 2024.

The Stocks and Shares ISA (the ‘ISA’) is a tax-friendly way to invest in the stock market for the longer term, with Virgin Money providing customers the choice of three no-nonsense investment approaches to suit their risk appetite.

Complementing the ISA, the savings account (1 Year Fixed Rate E-Bond Exclusive) gives customers a guaranteed interest rate on the amount saved in the bond of 4.65% AER/Gross PA, plus the bonus rate of 2.00% AER/Gross PA up to the matched value invested in the ISA during the offer period.

Jen Adams, chief commercial officer at Virgin Money Investments, said: “Investing is one of the best ways for people to increase wealth over the long term, but cash savings are also an important way to grow money. By giving our investment customers up to 6.65% on their cash savings, this rewarding offer provides the best of both to help our customers make the most of their money”.

To qualify for the bonus rate, customers will need to keep the ISA money invested until the savings account matures. If any money is withdrawn from the ISA between 1 July 2024 and the maturity date on the savings product, customers will receive the standard fixed interest rate of 4.65% AER/Gross PA on their savings and the bonus interest would be lost.

Virgin Money Stocks and Shares ISA

Virgin Money offers customers three straightforward investment approaches, each made up of a range of funds selected to reflect customers’ approach to risk, all suitable for both new and experienced investors looking to grow their money in the longer term:

Each approach looks to maximise return for that level of risk by investing in different asset types from around the world, giving customers a diversified portfolio without the hassle of having to research and pick individual assets or funds. Each approach will also focus on increasing investment in companies with good Environmental, Social and Governance (ESG) credentials including those who adopt sustainable investing policies and objectives, have positive shareholder engagement policies, or provide products and services that support the transition to a low carbon economy.

To help customers decide which approach suits them best, Virgin Money has added a series of helpful guides to its website*. For customers new to investing, the bank has also introduced a new online investment coach which gives people the tools and information they need to discover their ‘inner investor’.

Fairer Finance has awarded Virgin Money’s investment terms and conditions their Clear and Simple mark. This means they meet their high standards for legibility and design and is recognition that they are easy to understand.

More information on Virgin Money’s investment service is available here:

* Virgin Money does not offer financial advice but does provide tools and information to help customers decide for themselves.

Full T&Cs here.