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Virgin Money launches new one-year Fixed Rate Cash ISA

17/9/2015

The information contained in this press release is intended solely for journalists and should not be used by consumers to make financial decisions. Any consumer interested in learning more about this product should visit our savings pages.

  • One-year fixed rate ISA launched offering a competitive interest rate of 1.76% tax-free2/AER1
  • The same interest rate is available for customers however they choose to buy

Virgin Money is today launching a new fixed rate ISA offering a competitive interest rate of 1.76% tax-free2/AER1 for one year.

Customers can transfer-in existing ISAs and additional deposits are accepted for 30 days following account opening.

The new account is available through Virgin Money stores, online, over the telephone and by post, and customers will receive the same attractive interest rate however they choose to operate their account.

Zack Hocking, Head of Savings at Virgin Money said: "The new fixed rate ISA we have launched offers customers a highly competitive rate in the one-year market, and is ideal for savers who are looking for an attractive and guaranteed rate of interest over a shorter period of time whilst utilising the full benefit of their tax-free allowance."


Further information on Virgin Money’s savings range is available at www.virginmoney.com.


Media Contacts:

Virgin Money Press Office:
0191 279 4676
press.office@virginmoney.com


PRODUCT DETIALS

Fixed Rate ISAs

Term

Issue

Tax-free2/AER1

Monthly tax-free2

1 yearVirgin Fixed Rate Cash ISA Issue 166
Virgin Fixed Rate E-ISA 140
1.76%1.75%

Customers can withdraw funds from fixed rate ISAs during the fixed rate period, subject to a charge equivalent to 60 days loss of interest.

1AER stands for Annual Equivalent Rate and shows what the interest rate would be when interest is paid and added to the capital balance each year.

2The tax-free rate is the contractual rate of interest payable where interest is exempt from income tax.



NOTES TO EDITORS

About Virgin Money

  • Virgin Money provides savings, mortgages, credit cards, current accounts, pensions, investment and protection products
  • Virgin Money’s business ambition is to make "everyone better off" – this philosophy underpins our approach to business by offering good value to customers, treating employees well, making a positive contribution to society and delivering a profit to shareholders
  • Virgin Money is the official sponsor of the London Marathon, the biggest annual one-day fundraising event in the world. Virgin Money has helped London Marathon runners raise over £¼ billion, including funds raised through Virgin Money Giving, the not-for-profit online fundraising service, since 2010.

Supplementary notes

The information contained in this press release is intended solely for journalists and should not be used by consumers to make financial decisions. Any consumer interested in learning more about this product should visit http://uk.virginmoney.com/savings for full terms and conditions.

Virgin Money plc - Registered in England and Wales (Company No. 6952311). Registered Office - Jubilee House, Gosforth, Newcastle upon Tyne NE3 4PL. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.