1 Year Fixed Rate Cash E‑ISA

Annual interest is paid on 5 August, 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.

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

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 online by UK residents aged 16 or over.
• Only one account can be opened per customer per issue.
• Minimum to open £1.
• For your initial deposit you are able to pay money in with your debit card. Any money paid in will receive interest immediately but cannot be withdrawn for six working days.
• Minimum additional deposit £1.
• Minimum operating balance £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 2022 - 2023 tax year. This annual allowance may change in future tax years. You will find this information on our website, in our Stores and via our Contact Centre.
• 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 Cash 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 annual tax-free 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.
  • Cheque.
  • Electronic transfer.
  • Transfer from an existing Virgin Money account, subject to the terms and conditions of that account.
  • Transferring an existing Cash ISA or a Stocks and Shares ISA from another provider.

• Minimum withdrawal amount is £1 (or less if closing).
• 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 60 days' loss of interest on the amount withdrawn.
• 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.
• You can have access to your money whenever you need it. Simply log into your account and arrange to take money in the following ways:
  • Transfer to another Virgin Money account, subject to the terms and conditions of that account.
  • By electronic transfer: payments up to £100,000 will be sent by Faster Payments. Payments that are more than £100,000 will be sent by CHAPS free of charge.

• This account is a non-payment account.
• Each month that there is a transaction on your account (other than an interest payment), we may email you at least once to let you know a statement is available to view online. You can view your transactions online at any time.
• 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 2022 - 2023 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.

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, Gosforth, Newcastle Upon Tyne, NE3 4PL or email customerrelations@virginmoney.com

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 leaflet PDF 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.

It is not possible for a Power of Attorney account to be operated online. To apply as a Power of Attorney please download an application form PDF opens in a new window (PDF, 376KB) , complete and return to the address provided on the form. Your account will then be opened and operated by post via our Gosforth Office.