2 Year Fixed Rate E‑Bond

Annual interest is paid on 5 August and will be available the next working day. Monthly interest is paid on the 7th 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.

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.
• 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• This is a strictly limited issue and can be withdrawn at any time. Once withdrawn there is a very limited window to make any deposits and any deposits received after this time will be returned to you. We will not contact you to let you know when the Fixed Rate E-Bond is withdrawn.
• 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 we will return the additional 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.

• 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 email 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 will also be able to 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.
• 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. However, once you have requested and received a Certificate of interest paid and tax deducted we will provide further certificates in April each subsequent year that the account remains open and, for closed accounts, in the tax year the account is closed.
• Please note, the tax treatment will depend on the individual circumstances of each customer and may change in the future.
• 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.

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.

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, 129KB) , complete and return to the address provided on the form. Your account will then be opened and operated by post via Jubilee House, Gosforth, Newcastle Upon Tyne, NE3 4PL.