5 Year Fixed Rate Cash ISA

Watch your money grow tax-free

Fixed rate of

1.75% AER1

1.75% Tax-free3 P.A.

Sometimes you want to know what you’re going to get from your savings. So if you can put a lump sum aside for at least a year, then we’ll fix the rate of interest for the whole period. And you’ll know exactly what you’ll get at the end.

Need more flexibilty to access your money whenever you need it? Why not take a look at our Easy Access Cash ISA?

The highlights

Tax-Free

You don't pay any tax on the interest earned

Long term saving

Lock your money away for longer and get our best rates.

ISA Transfer

Transfer your other ISAs to us, using our ISA transfer service.

Lounge Access

Exclusive access with free refreshments and wifi.

UK Call Centres

All of our call centres are based in the UK.

Virgin Group discounts

Virgin Group offers that could help you save money.

Account Name

5 Year Fixed Rate Cash ISA Issue 280

What is the interest rate?

Issue Annual interest
% Tax-free3
Annual interest
% AER1
Monthly interest
% Tax-free3
Monthly interest
% AER1
Maturity date
280 1.75 1.75 1.74 1.75 15 July 2022

Annual interest is paid on 30 November, and will be available the next working day. Monthly interest is paid on the last day of the month, and will be available the next working day.

Can Virgin Money Change the interest rate?

Rates are fixed until the maturity date. This means we cannot change the rate until after the fixed rate period.

What would the estimated balance be after 60 months based on a £1,000 deposit?

Issue Fixed Term Projected balance at the end of the fixed term
Fixed Rate Cash ISA Issue 280 5 Years £1,090.62

This projection is provided for illustrative purposes only and does not take into account your individual circumstances. This is based on no withdrawals or further deposits being made and interest being added to the account. The projected balance is based on the annual interest rate.

How do I open and manage my account?

  • This account can be opened in Store, over the phone, by post or online by UK residents aged 16 or over.
  • Only one account can be opened per customer per issue.
  • Minimum initial deposit £1.
  • Minimum additional deposit £1.
  • Each tax year you can pay in up to your annual tax-free allowance (subject to the terms and conditions of your account), which is £20,000 in the 2017-2018 tax year.
  • To ensure money is accepted into your new account we must receive all money within 30 days from your account opening date. Any deposits received after 30 days may be returned to you. Therefore if you wish to add to your ISA every tax year this product will not be suitable. Fixed Rate ISAs are not suitable for regular deposits.
  • Each customer can save up to a total of £2 million with Virgin Money, across all accounts held.
  • If a deposit results in your account going over the maximum deposit limit or the HMRC annual allowance we will return the excess money to you. This does not include any interest you have asked to be added direct to your account.
  • Deposits and instructions can be made by:
    • Cash – Store** only.
    • Transferring an existing Cash ISA or a Stocks and Shares ISA from another provider.
    • Arranging an electronic transfer.
    • Cheque.
    • BACS/CHAPS.
    • Transfer from an existing Virgin Money account, subject to the terms and conditions of that account.

Can I withdraw money?

  • You can withdraw money from your account but you cannot put money back in. Any withdrawals made within the fixed rate period are subject to a charge equivalent to 180 days’ loss of interest on the amount withdrawn.
  • Minimum withdrawal amount is £1 (or less if closing).
  • After the fixed rate period your account will become a variable rate Cash ISA. However, we will write to you before the end of the fixed rate period to let you know the options available to you, as well as advising you of the interest rate currently payable on the variable rate account.
  • To request a withdrawal simply send your written instructions to Savings Operations, Virgin Money, Jubilee House, Gosforth, Newcastle upon Tyne, NE3 4PL or you can take money out in the following ways:
    • Cash – Store** only.
    • Cheque – simply complete a Transaction Slip and a cheque will be sent promptly to your correspondence address.
    • Electronic transfer.
    • CHAPS.
    • Transfer to another Virgin Money account, subject to the terms and conditions of that account.

Additional Information

  • For accounts opened over the telephone, online or by post we will send you a Welcome Pack in the post with details of your account number and opening balance. We will also send a statement annually in December and on closure of the account.
  • Please also remember the tax advantages depend on your individual circumstances and the tax treatment of ISAs may change in the future.
  • In addition to paying in up to £20,000 in the 2017-2018 tax year, you can also transfer previous tax years’ Cash ISA and Stocks and Shares ISA subscriptions. You can only subscribe to one Cash ISA in each tax year.
  • By opening a Cash ISA you limit the amount of tax-free savings you can make in a Stocks and Shares ISA, an Innovative Finance ISA and a Lifetime ISA.
  • This is a limited issue account.

Complaints and cancellations

We hope we can resolve any issues you may have in the first instance, but if you have a complaint, please let us know as soon as possible so that we can look into it for you. You can write the details of your complaint to the Customer Relations Team, Virgin Money plc, Gosforth, Newcastle Upon Tyne, NE3 4PL or email customerrelations@virginmoney.comEmail opens in a new window

If we cannot resolve the complaint to your satisfaction you have the right to refer your complaint to the Financial Ombudsman Service, which provides independent adjudication of complaints. A copy of our Internal Complaint Procedures leafletPDF opens in a new window(PDF, 164KB) is available on request.

If you are not happy with your choice of account within 14 days of depositing your ISA subscription, we will help you close your account and you will not lose your right to invest in another Cash ISA, Stocks and Shares ISA, Innovative Finance ISA or Lifetime ISA for that tax year. If you wish to take advantage of this 14-day rule, you must send your cancellation in writing to Savings Operations, Virgin Money, Jubilee House, NE3 4PL, when you close your account we will ensure that our reports to HM Revenue & Customs reflect the correct position. If you do cancel your account, the full amount of your investment, together with any interest earned will be returned to you.

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Interest calculator

Use our handy calculator to work out the estimated interest you could earn on this account.

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Save with confidence

As we are covered by the Financial Services Compensation Scheme, savings with Virgin Money are covered up to £85,000 per person.

View the FSCS guarantee

Things you may need to hand

  • Your bank or building society number if you want your interest paid to another account
  • Your National Insurance number

This is a store or post account.

Select which account opening method you’d prefer below.

To apply for a postal account

The easiest and quickest way to apply for your account.

Submit your application online in just 5 minutes.

Send securely online

Please note: To keep your information secure we will close your application automatically after 20 minutes of inactivity.

Send your completed application form to:

Virgin Money plc
E-Savings
NEA 3780
Newcastle upon Tyne
NE3 4ZE

Download application form

If you don't have access to a printer, we can send you a form in the post.
Request an application form

Please make sure you enter the tax year you wish to subscribe to in the box at the top of the application form. Please use 'Print and post' for a Power of Attorney account.

0345 850 2336

Mon - Fri 8am - 8pm
Sat 8am - 4pm
Sun 10am - 3pm

Call us to open your account and we'll provide you with your account number so you can deposit straight away.

Calls to 03 numbers are the same as calls to 01 or 02 numbers and they are included in inclusive minutes and discount schemes in the same way.

To apply for a store account

Request an appointment and chat with us face to face at your local Store.

We'll give you straightforward, friendly help with our savings products.

Frequently asked questions

How much can I save each year?

Each tax year, you have a tax-free ISA allowance. You can currently save up to £20,000 this tax year.

You can transfer in any ISAs that you have with other providers too. Transferred ISAs from previous tax years will not count towards your limit of £20,000, but transferred ISAs opened in this tax year will count towards your £20,000 allowance.

Don't forget that this is an annual allowance. If you have an ISA, you can deposit up to the maximum allowance each year, in addition to funds already in your account from previous years.

How do I pay money into this account?

To ensure funds are accepted into your new account we must receive all funds within 30 days from your account opening date. Any deposits received after 30 days may be returned to you. This includes any funds transferred in from existing ISAs, therefore please ensure that you initiate any ISA transfers in as soon as you receive your new Cash ISA details. After the 30 day period you may not be able to make any additional deposits into this Cash ISA.

You can add new money to your Virgin Fixed Rate Cash ISA with any amount between £1 and £20,000 by:

  • Transferring money electronically to us by BACS, CHAPS, FPS or Standing Order.
  • Sending a cheque with a transaction slip(PDF, 116KB) to our Main Office – please make the cheque payable to "Virgin Money plc for the account of [insert account holder’s name(s)]" and crossed "A/c Payee only". Please also quote your account number on the reverse.
  • Visiting your local Store** to make a cash or cheque deposit.
  • Transferring money from another Virgin Money account either by sending a transaction slip(PDF, 116KB) to our Main Office or by visiting your local Store** with ID and passbook if applicable (as long as you can withdraw from the account).

An ISA may become void if invalid contributions are made and we may transfer the account to a non ISA account which may not pay the same interest rate as the current ISA.

For FPS, BACS and Standing Order transfers
Sort code 08-61-15
Account number 00000515
Reference Your Fixed Rate Cash ISA account number
For CHAPS transfers
Sort code 08-02-65
Account number 50048407
Reference Your Fixed Rate Cash ISA account number and your name
For CHAPS transfers from banks outside the UK
Sort code 40-02-50
Account number 61333372
Reference Customers Virgin Money Account Number and Name
BIC No.
NRNBGB22XXX
IBAN No.
GB07MIDL40025061333372

If you do not make any deposits into a Cash ISA for a full tax-year (break in subscriptions), we are required to obtain a new application form from you before any additional deposits can be accepted.

How do I take money out?

On your written instructions and within a time stipulated by you, all or part of your Cash ISA funds and any earned interest can be transferred or paid to you (please refer to the Savings Terms and Conditions for further information).

Any funds withdrawn from a Cash ISA may lose their ISA tax free status if not replaced into your existing ISA or transferred to another ISA.

With this account:

  • The minimum amount you can withdraw is £1 (or less if closing).
  • Withdrawals are subject to a charge equivalent to loss of interest on the amount withdrawn. Please see the Key Product Information document for details of this charge.

Simply send your written instruction to Savings Operations, Virgin Money, Jubilee House, NE3 4PL or you can take money out in the following ways:

  • cash – Store only;
  • cheque – simply complete a transaction slip and a cheque will be sent promptly to your correspondence address;
  • electronic transfer – if possible, we will send your payment by FPS, meaning that we will debit your account the same day or on any future date for which you authorised the payment. The payment should reach your nominated account within a few hours but no later than the end of the next business day;
  • if you request a CHAPS withdrawal and we receive your authority and full instructions before 4pm on a business day, the money should be credited to your nominated bank or building society account the same day. Withdrawal instructions received after 4pm will not be processed until the next business day and the money should be credited to your nominated bank or building society account on that day. A charge will be made for this type of transfer, please refer to Condition 11 within your Savings Terms and Conditions for details. The minimum you can withdraw by CHAPS is £250 up to the account balance. CHAPS transfers can only be processed at our Main Office.
  • transfer to another Virgin Money account, subject to the terms and conditions of that account.

Will I incur any charges with this account?

There are charges for some standard services that we make available to you. These are detailed below:

Service Charge
CHAPS Minimum withdrawal £250 £30 per transfer
Copy cheque £5 per cheque
Copy statement £10 per statement

We may also make a reasonable charge for any non-standard services which we make available to you on a discretionary basis. If you request such a service, we will tell you the amount of our charges before we act on your instructions.

When is the interest paid, and where is it paid to?

  • This account pays a fixed rate of interest.
  • Annual interest is paid on 30 November and monthly interest on the last day of each month. If these days aren’t business days, we will pay them the next business day. Any additional interest earned after the last payment date will be added to the capital balance and paid upon closure of the account.
  • If the balance in your account falls below £1, the minimum amount set, our basic savings rate of 0.10% tax-free3 P.A applies.

Interest can be;

  • Added to your Fixed Rate ISA.
  • Transferred into any of our accounts (as long as you can add to the account).
  • Into an account with another bank or building society.