Virgin Money new launched fixed rate savings account
Virgin Money has launched a new range of fixed rate cash ISAs and a range of fixed rate cash bonds.
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Fixed Rate ISAs
The new Virgin fixed rate cash ISAs offer customers a fixed rate of 2.20% tax-free/AER for one year, 2.40% tax-free/AER for three years and 3.00% tax-free/AER for five years.
The new accounts accept transfers from existing cash ISAs, and customers can withdraw funds during the fixed rate period subject to a charge equivalent to 60 days loss of interest for the 1 year product, 120 days for the 3 year product and 180 days for the 5 year product.
Fixed Rate Bonds
The new Virgin fixed rate bonds offer customers a guaranteed rate of 1.75% gross/AER for one year, 2.40% gross/AER for three years and 3.00% gross/AER for five years. Bonds can be opened with just £1, and additional deposits are accepted for as long as the bonds remain available to new customers.
Withdrawals are not permitted during the fixed rate period.
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