The new range offers the same rates on ISA and non-ISA products, with increased choice for customers who are happy to invest for a longer period of time for a higher return.
The new Virgin Money fixed rate ISA offers customers an improved interest rate of 1.70% tax-free/AER for one year. The new accounts accept transfers from existing ISAs and additional deposits are accepted for 30 days following account opening.
For customers wanting a guaranteed rate over a set period, the new Virgin Money fixed rate bonds offer customers the same rate as the equivalent cash ISA - 1.70% tax-free/AER annual gross/AER for one year.
The account can be opened with just £1, and additional deposits are accepted for as long as the account remains available to new customers.
The Virgin 100 Day Notice Saver has also been launched today, and offers customers 1.35% annual gross/AER (1.34% monthly gross).
This product offers customers the benefit of a competitive interest rate and withdrawals can be made, charge-free, by providing 100 days’ notice. The account has a minimum balance of £1 and a maximum balance of £500,000. Customers can choose to receive interest either monthly or annually.
Anthony Mooney, Financial Services Director said:
“Our new savings products offer good value and choice to our customers, no matter how they wish to invest their money. Our range offers customers the same competitive rates for ISAs and fixed rate bonds, giving ISA savers the full benefit of tax-efficiency. We also offer exactly the same rate through all channels, so customers can also choose how they wish to operate their account without detriment to rate.”
