Virgin Money new launched fixed rate savings account

The new accounts are available in Virgin Money stores, as well as online, over the telephone and by post with interest rates the same through all distribution channels.

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.