Virgin Money celebrates royal arrival with reward for young savers
- First 500 children named Louis or Louise opening a new Virgin Money children’s savings account will receive £25 into the account
- Young Saver and Fred the Red accounts both offer interest of 2.00% gross1 pa/AER2
To celebrate the birth of The Duke and Duchess of Cambridge’s third child, Prince Louis of Cambridge, Virgin Money is giving £25 to the first 500 children named either Louis or Louise who open a new Young Saver or Fred the Red Account through any Virgin Money Store.
Rhian Emmanuel, Director of Savings at Virgin Money said: “The arrival of a new baby in a family is always something to celebrate, and following the arrival of The Duke and Duchess of Cambridge’s third child, Prince Louis, we are delighted to offer £25 to the first 500 children named Louis or Louise opening a Young Saver or Fred the Red account.
“Saving early for your child’s future is important and can provide them with a great start when it is time for them to set off on their own. We hope that by offering these accounts, we can help them have a flying start.”
The Young Saver and Fred the Red accounts both pay a variable interest rate of 2.00% gross1 pa/ AER2, and are available to customers aged under 16. Accounts can be opened with just £1.
More information on the Young Saver and Fred the Red accounts is available through Virgin Money Stores or at www.virginmoney.com/savings
Virgin Money Press Office
0191 279 4676
Product details - Young Saver / Fred the Red accounts
Accounts have a maximum balance limit of £25,000, and must be opened with an appropriate adult named on the account as a trustee. All withdrawals are notice free and all trustees are required to sign for any withdrawals. Interest is paid annually.
1Gross is the rate of interest paid to eligible non-taxpayers without deduction of tax. Interest will be paid net of tax unless account holders are eligible to receive interest gross and submit the required registration form.
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.
About Virgin Money
- Virgin Money offers savings, mortgages, credit cards, current accounts, currency services, pensions, investments and protection products to 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 13,900 charities have registered with Virgin Money Giving and, by the end of 2017, over £600 million had been donated to charities through the service since its launch in 2009, resulting in an estimated £19 million more donated to charities because of its not-for-profit model.
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.