Skip to main content

Interest rate change

To find out more about this change to the base rate and how it may affect your savings or current account, please take a look at the questions and answers below.

Savings questions and answers

Following the change in the Bank of England Base Rate, we are changing the interest rates on a number of our variable rate savings accounts.

We will be writing to all customers whose rates are being increased as soon as possible, it may be that your rate is increased before you receive a letter from us.

No, your savings rate is fixed throughout the term, which is typically 1, 2, 3 or 5 years.

If you hold one of the following savings products with us then your rate will change by 0.25% gross on 01/09/2018.

  • Branch Tracker (a matured Regular Saver)
  • Base Rate Tracker (a matured Fixed Rate Access Bond or Fixed Rate Access ISA)

We will write to you to let you know what your new rate is as soon as possible. However your rate will change on 01/09/2018 regardless of when you receive your communication from us.

Following the Bank of England base rate change, we are changing the interest rate on a number of our variable rate savings accounts. If your rate is changing we will let you know what your new rate is and the date it is effective from. We pride ourselves on the competitive pricing we offer customers, and that position will not change following the Bank of England’s announcement.

We will be writing to all customers whose rates are being increased as soon as possible, it may be that your rate is increased before you receive a letter from us.

We will continue to honour all Base Rates Guarantees and if we change your rate we will write to you as soon as possible to you to let you know what your new rate is.

Following the change to the Bank of England Base Rate we continue to watch the market and will adjust the interest rates offered on our new products if necessary.

Current account questions and answers

We have made no changes to interest rates on our current accounts. If we were to change the rate on your Virgin Money Current Account, we would write to you to confirm your new rate and the date it is effective from. We would give you at least 2 months’ written notice of a rate decrease.

We have made no changes to interest rates on our current accounts. If we were to change the rate on your Essential Current Account, we would write to you to confirm your new rate and the date it is effective from. We would give you at least 2 months’ written notice of a rate decrease.