Virgin Deposit Account - Savings made easy

Anyone aged 18 and over, living in the UK and holding a current account with a UK bank.

We can easily set up a joint Virgin Deposit Account, so long as the current or cheque account we link your deposit account to is in the same joint names.

Our current interest rate is 0.1% gross* (with an AER** of 0.1%).

The rate of interest is variable and may change in the future. The rate is correct as of today’s date.

Our previous interest rate of 0.25% applied from 2 March 2009 to 20 March 2009.

*The rate shown is on a gross basis - the amount before tax is deducted. However, our interest is paid on a net basis - the amount after tax is deducted.

**AER stands for Annual Equivalent Rate - this illustrates what the interest rate would be if the interest is paid and compounded on an annual basis. As our interest is paid annually, the rate is the same as the AER.

You earn interest on the cleared daily balance of your account* and we pay the interest to you once a year - paid directly into your Virgin Deposit Account.

*Your money takes 2 business days to clear before it starts earning interest.

You can run your account online using online service or over the phone by calling us on 08456 10 20 20. If for any reason that's not possible, you can service your deposit account by post by writing to us at: Virgin Money, PO Box 9522, Chelmsford, CM99 2AB.

Whichever way is convenient for you, you will be able to check your balance, your payment history and how much interest you have earned. You can also make payments and withdrawals, or change your regular payments and update your details.

Plus we send you a full statement twice a year in February and August.

Yes. Your savings will be covered by the FSCS, the scheme that covers all banks and guarantees the first £50,000 of your savings. Information about the scheme can be found in the product terms and conditions and on the FSCS website www.fscs.org.uk.

Just give us a quick call on 08456 10 20 20 or click the 'Request a pack' button to the right and ask us to send you an application pack in the post.

Before you apply

Don’t forget to read the Virgin Deposit Account terms and conditions