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Virgin Money launches new Regular Saver account with exclusive rewards

22/09/2016

  • Regular Saver offers interest of 2.25% annual gross1/AER2 fixed for one year
  • Customers can save anything up to £250 per month, and have charge-free access to their savings
  • Regular savers can also receive regular rewards, with exclusive access to a quarterly Virgin prize draw

Virgin Money has launched a new Regular Saver account, offering customers a competitive interest rate of 2.25% annual gross1/AER2 fixed for one year, with the chance to win a range of Virgin prizes in an exclusive quarterly prize draw.

Accounts can be opened with just £1 and customers can choose how much they want to save up to a maximum of £250 each calendar month. There is no requirement to save a fixed amount each month, or the need to save each month at all – the customer is free to choose the saving pattern that suits them best.

Customers can also make withdrawals from their account at any time without charge.

The Regular Saver is available now and accounts can be opened at www.virginmoney.com.

Regular Rewards

Regular savers will be entered automatically into a quarterly prize draw, with the chance to win a range of prizes on offer from other Virgin companies including; Virgin Holidays, Virgin Media, Virgin Experience Days and Virgin Wines. The more customers contribute to their Regular Saver account, the higher their chances of winning a prize will be, meaning customers get rewarded for saving regularly.

Rajesh Ahuja, Savings Director at Virgin Money said: “Getting into the habit of saving regularly is a great way to build a pot of money, whether that is to be used for a holiday, a new car, or just to build a rainy-day fund. Our new Regular Saver is ideal for those new to saving, as well as experienced savers who want to build their savings pot.”

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

NOTES TO EDITORS

Product Details

TermIssueAnnual gross1/AER2Maturity Date
1 yearVirgin Money Regular E-Saver Issue 12.25%20 October 2017

1Gross P.A. is the rate of interest without the deduction of tax. Please note that the automatic deduction of tax on savings interest for non-ISAs ceased with effect from 6 April 2016.

2AER 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.

Regular Rewards

Regular Saver accounts will automatically receive 10 entries in each quarterly prize draw, plus an additional 10 entries for each month a deposit is made, up to a maximum of 40 entries per prize draw. Full terms are available at www.virginmoney.com/prizedrawterms.

About Virgin Money

  • Virgin Money offers savings, mortgages, credit cards, current accounts, currency services, pensions, investments and protection products to over 3 million customers across the UK.
  • 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.
  • More than 11,500 charities have registered with Virgin Money Giving and, by the end of June 2016, over £475 million had been raised for charity through the service since its launch in 2009, resulting in an estimated £15 million more raised for charity because of its not-for-profit model.

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 Holdings (UK) plc - Registered in England and Wales (Company No. 03087587). 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.