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Fixed rate of 0.60%

AER1 / Gross2 P.A.

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Please read the following Summary box before applying for this account

Account name: 1 Year Fixed Rate Bond Issue 474

What is the interest rate?
Issue Annual interest
% Gross2
Annual interest
% AER1
Monthly interest
% Gross2
Monthly interest
% AER1
Maturity date
474 0.60 0.60 0.60 0.60 01 August 2021

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

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 12 months based on a £1,000 deposit?
Issue Fixed term Projected balance at the end of the fixed term
1 Year Fixed Rate Bond Issue 474 1 Year £1,006.00

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.

  • This account can be opened in Store, over the phone and by post by UK residents aged 16 or over.
  • Only one account can be opened per customer per issue.
  • Minimum to open £1.
  • Minimum additional deposit £1.
  • Minimum operating balance £1.
  • Maximum deposit limit £1 million. For all accounts the maximum deposit limit also applies to joint accounts.
  • This is a strictly limited issue and can be withdrawn at any time. Once withdrawn there is a very limited window to make any deposits and any deposits received after this time will be returned to you. We will not contact you to let you know when the Fixed Rate Bond is withdrawn, we recommend that you add to your account immediately. If a deposit results in your account going over the maximum deposit limit we will return the additional money to you. This does not include any interest you have asked to be added direct to your account.
  • Each customer can save up to a total of £2 million with Virgin Money, across all accounts held.
  • Deposits and instructions can be made by:
    • Cash - Store** only.
    • Cheque.
    • BACS/CHAPS.
    • Arranging an electronic transfer.
    • Transfer from an existing Virgin Money account, subject to the terms and conditions of that account.
  • Early closure or withdrawals are not permitted until after the fixed rate period as detailed.
  • After the fixed rate period your account will become a variable rate account. 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.
  • This account is a non-payment account.
  • We pay interest without deducting income tax, unless HMRC/the law requires otherwise. However, depending on your personal circumstances, you may be liable to pay income tax on the interest you have earned. Please visit www.gov.uk/apply-tax-free-interest-on-savings for further information. We do not issue Certificates of interest paid and tax deducted automatically. If you ask us for a certificate, we'll be happy to send you one.
  • Please note, the tax treatment will depend on the individual circumstances of each customer and may change in the future.
  • For accounts opened over the phone or by post we will send you a Welcome Pack in the post with details of your account number and opening balance. Each month there is a transaction on your account (other than an interest payment), we will send you a paper statement at least once. We will also send a statement annually in July and on closure of the account.

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 to the Customer Relations Team, Virgin Money, Gosforth, Newcastle upon Tyne NE3 4PL or email customerrelations@virginmoney.com. If we are not able to put things right to your satisfaction, you have the right to refer your complaint to the Financial Ombudsman Service for independent adjudication. If you would like a copy of our Internal Complaint Procedures leafletPDF opens in a new window (PDF, 164KB), this is available on request.

You are unable to cancel this account once it has been opened.

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

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