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One of our best rates available for savers

M Plus Saver

2.02%

AER1 (2.00% gross per annum variable) on savings balances up to £25,000, and 1.51% AER (1.50% gross) on any balances above £25,000. Interest paid quarterly.

  • Freedom to pay money in and take it out whenever you want, with no fees or charges
  • Start saving straight away - there's no minimum pay-in amount
  • Feel the love with exclusive rewards from the linked M Plus Account

Savings that work as hard as you do

Introducing the M Plus Saver - our most flexible way to save. Start saving with as little as you like, and earn 2.02% AER* on balances up to £25,000.

  • Enjoy instant access
    Pay money in easily and access it whenever you like - there are no fees or charges to worry about.
  • Savings that add up
    Watch your money grow with in-credit interest on your current account and linked savings account.
  • Set your savings goals
    Pick a goal, create a Savings Pot for it, and transfer money into it when you can.

* 2.02% AER1 (2.00% gross1 per annum variable) on savings balances up to £25,000, and 1.51% AER (1.50% gross1) on any balances above £25,000. Interest paid quarterly

With an M Plus Saver you'll also get...

A free and easy-to-use M Plus Account. Our most popular current account comes with an interest rate that hits the high notes. Earn 2.02% AER* on balances up to £1,000.

  • Virgin Money rewards
    We've got epic rewards for everyone. Brighten up your world with exclusive offers in our app.
  • Money back in your hands
    Earn cashback on your shopping when you spend with participating retailers.
  • No fees when you travel
    We won't charge you for using your card or withdrawing cash when abroad.

* 2.02% AER1 (2.00% gross1 per annum variable) interest rate, paid monthly, on your M Plus Account balance up to £1,000.

You're ready to apply if:

  • You're 18 or over and live in the UK (over 16s can open an account in Store).
  • You've read the terms, tariff and other important information below.

Account name

M Plus Saver

What is the interest rate?

BalanceGross rate (%)AER (%)
Balances up to and including £25,0002.00%2.02%
Balances over £25,0001.50%1.51%

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 two 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:

Initial deposit at account openingBalance after 12 months
£1,000.00£1,020.16
£25,000.00£25,502.82
£50,000.00£50,879.93

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 is no change to the interest rate.

How do I open and manage my account?

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

The account can be opened in Store or online, virginmoney.com/current-accounts/pca, 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 M Plus Account is available to anyone from the age of 16. Subject to status.

If you want to apply online, you'll need to be at least 18. Subject to status.

Can I withdraw money?

You may only withdraw funds by transfer to your M Plus 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.

An Arranged or Unarranged Overdraft is a way to borrow money from the bank and is intended for occasional use. Here's a quick overview of how they work:

Arranged Overdraft

This is a borrowing limit on your account that we agree with you in advance, so it's there when you need it. You'll pay Arranged Overdraft interest on the amount you choose to use.

Unarranged Overdraft

This is where you borrow from us when there is no money left in your account (or when you have gone past your Arranged Overdraft limit) and this has not been agreed with us in advance. You will pay Unarranged Overdraft interest.

If you don't have enough money in your account to cover a payment, we may charge a Refusing A Payment Due To Lack Of Funds Fee. You should aim to repay your overdraft borrowing as quickly as possible and use it responsibly as your usage will be reflected in your credit file.

Will you get an arranged overdraft?

Use our eligibility calculator and find out. It won’t leave a mark on your credit file.

Get started

Apply for an M Plus Current Account to access our linked M Plus Saver.

What kind of account do you want?

Have we met before?

If we have, great. Maybe you have an account with Clydesdale or Yorkshire Bank - or you already have a Virgin Money current account and you’re here for another. Well, we’re all one bank now, which means you can simply log on with your Online Banking details and get applying.

Have we met before?

If we have, great. Maybe you have an account with Clydesdale or Yorkshire Bank - or you already have a Virgin Money current account and you’re here for another. Well, we’re all one bank now, which means you can simply log on with your Online Banking details and get applying.

Continue a saved application

Virgin Money rewards

We've got epic rewards for everyone. Brighten up your world with exclusive offers in our app.

Exclusive offers

Cashback and a range of music perks just for you

Powerful products

Your current account is the key to our Cash ISA Exclusive

Virgin discounts

Offers from across the Virgin Group of companies

Red hot offers

Look out for fresh new offers from our partners

Discover rewards

Our app makes
money easy

It's packed full of clever tools to help you budget, top up your savings and sort out your spending.

Track your ins and outs

View transactions and sort your spending by category

Save savvily

Set aside money for those must haves, with Savings Pots

Budget better

Gone over-budget? The app lets you know

Pay easily

Just a fingertip away with Apple Pay and Google Pay

Discover our app

Protecting your money

Security
We're all over your online transactions to make sure it's really you making them.

More about security
FSCS guarantee
Your eligible deposits with Virgin Money are covered up to £85,000 per person.

View the FSCS guarantee
Current Account Switch Guarantee
It's easy to use our switching service, and it's all backed by the Current Account Switch Guarantee.

More on switching
FSCS protected
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Which account has your name on it?

This isn't the only current account we can offer you. To help you decide if it's the one for your business, see how it stacks up against the others.

Compare accounts

[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.

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