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Virgin Money is increasing the savings rate on its popular linked savings accounts from 1 March 2022. The rate will rise from 0.35% AER to a market-leading 1.00% AER for all new and existing customers on balances up to £25,000, For balances above £25,000, the rate will rise to 0.50% (variable).

The Virgin Money M Plus Account, the Virgin Money Club M Account and the Virgin Money M Account automatically come with a linked savings account making it easy for customers to manage their money and transfer savings to and from their current account.

The linked savings rate increase follows the Bank of England base rate increase to 0.50% in February and offers a best-buy rate for customers looking to maximise the return on their savings.

Hugh Chater, Chief Commercial Officer at Virgin Money, said: “Following the Bank of England base rate increase, we want to reward our customers for saving with us and give UK consumers more reasons to bank with Virgin Money. We recognise the importance of supporting our customers in these challenging financial times, and by boosting our linked savings rates we can give customers better value for their savings.”

Virgin Money has also recently refreshed its Brighter Money Bundles current account offer, offering switchers to the Virgin Money M Plus Account and Virgin Money Club M Account a £100 Virgin Experience Day gift card to spend on the adventure of their choice, as well as a credit interest of 2.02% AER (variable) on current account balances up to £1,000 and a bonus rate of 3.00% AER fixed for 12 months on balances up to £1,000. On top of that, customers will have the opportunity to earn Virgin Money Cashback on their everyday spending at participating retailers without having to activate individual offers, as well as the linked savings account with a market leading 1.00% AER on balances up to £25,000.

Further information on Virgin Money Cashback can be found at