Virgin Money is helping savers make the most of their money by raising the interest rate on some of its popular savings products – the linked savings accounts and the Easy Access Cash ISA Exclusive.
From tomorrow, Thursday, 1st June, the linked savings rate rises from 2.52% to 3.03% AER for all new and existing customers on balances up to £25,000. For balances over £25,000, the rate rises to 2.52% AER (previously 2.02% AER). All rates are variable. Interest is paid quarterly.
Virgin Money current accounts – the M Plus Account, Club M Account and M Account – all 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 rate rise will be automatically passed onto existing customers.
Adding to this, the Easy Access Cash ISA Exclusive savings rate is also increasing from 1st June, from 3.00% AER (tax free) to 3.75% AER (tax free). All rates are variable. The rate rise will be automatically passed onto existing customers.
Customers can manage their Easy Access Cash ISA Exclusive account online, where they can also top up and take money out whenever they like. Customers need to have or open a Virgin Money current account in order to apply for a Virgin Money Easy Access Cash ISA Exclusive.
These increases to Virgin Money’s linked savings rate and Easy Access Cash ISA Exclusive follow the Bank of England’s latest base rate rise in May, and both products offer a competitive rate for customers keen to maximise the return on their savings.
Hugh Chater, chief commercial officer at Virgin Money, said “Times continue to be challenging for many, and we know how important it is to help both new and existing customers make the most of their savings. We’re keen to help customers boost their balance in the way that works best for them, while also offering them Virgin Money perks, such as cashback on their everyday spending.”
Further information about opening a Virgin Money M Plus Account, Club M Account or M Account can be found at: Current Accounts | Open a Bank Account online | Virgin Money UK. Customers also earn cashback on their everyday spending at participating retailers via Virgin Money Cashback. To learn more about Virgin Money cashback, visit: Virgin Money Cashback | Virgin Money UK
Further information about opening a Virgin Money Easy Access Cash ISA Exclusive can be found at: Easy Access Cash ISA Exclusive | ISAs | Savings | Virgin Money UK
Virgin Money ISAs can be used for transfers in as well as current year subscriptions, with no limit on previous years’ ISA transfers.
Notes to Editors
The Easy Access Cash ISA Exclusive 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).
You can pay in up to £20,000 in the current tax year, and there's no limit on 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.