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Highlights

Instant access savings account

0.50%

AER1 (0.50% gross1 per annum variable) on your savings balance, interest paid quarterly.

View the Club M Account Tariff Link opens in a new window

Protecting your money

Your deposits with Virgin Money are covered up to £85,000 per person.

View FSCS guarantee

Important

Before you apply, take a look at the other Savings accounts we offer, to make sure you end up with the one that’s right for you. Please open and read the following summary box too.

Account Summary

Account name: Club M Saver

What is the interest rate?

BalanceGross rate (%)AER (%)
On all balances0.50%0.50%

Interest is calculated on a daily basis and paid on the last working day of each calendar quarter.

Can Virgin Money change the interest rate?

Yes, if we decrease your rate we’ll provide at least 2 months’ notice as described in your Terms. We may increase your rate without giving you notice

What would the estimated balance be after 12 months based on a £1,000 deposit?

Initial deposit at account openingBalance after 12 months
£1,000.00£1,005.00

This is only an example and doesn't take into account your individual circumstances.

The example assumes that:

  • no further deposits or withdrawals are made;
  • any interest earned stays in the account; and
  • there's no change to the interest rate.

How do I open and manage my account?

You may only open a Club M Saver if you have a Club M Account with us in the same name(s).
The Club M Saver will stay open, as long as the Club M Account is maintained as described in the Terms.

The account can be opened in Store or online, virginmoney.com/current-accounts, or call us on 0800 121 7365, someone from our team will be available 24/7.

There are no minimum or maximum balance restrictions or need to pay in on a regular basis. The Club M Account is available to anyone from the age of 18. Subject to status.

Can I withdraw money?

You may only withdraw funds by transfer to your Club M Account or any other account that we allow you to make a transfer into using internet/telephone banking, the Virgin Money Mobile Banking app or in Store.

Additional Information

Interest will be paid gross.

Gross rate interest is the interest payable without taking account of any tax payable.

AER (Annual Equivalent Rate). The Annual Equivalent Rate illustrates what the interest rate would be if interest was paid and compounded once each year.

Before you apply

Here’s a handy reminder of your existing account documents that covers both the Club M Account and the Club M Saver

Get started

What kind of Club M Account do you have?

[1] AER (Annual Equivalent Rate) illustrates what the interest rate would be if interest was paid and compounded once each year. Gross rate interest payable without taking account of any tax payable. Credit interest is calculated daily on the cleared credit balance in your account.