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- The interest rate will stay the same at 2.02% AER (Variable) on the first £1,000, and is currently boosted to 5.02% for a year (a 3% fixed bonus) if you switch into the account as a new customer. However, the big change here is that it’s no longer (as of 18 February 2022) possible to open up more than one of these accounts in your own name.
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What is Virgin Money's new current account offer?
We work out how much interest to pay you at the end of each day. This is based on the money in your account. If your balance is £1,000 or less, we'll pay interest on the whole balance. If it's higher we'll pay interest on the first £1,000 of your balance.
You can find the interest rate for any of your Savings accounts here. If you have an online account, you can also sign in to check your interest rate – it’ll be at the top of your online statement once you click on ‘View account’.
Saving for that once-in-a-lifetime trip or a new home together? Open an M Plus Account or a Club M Account and you'll get a high interest paying current account with linked savings account that work beautifully together. Hit the high notes with a high interest rate on your current account and savings balance
Aug 7, 2024 · What does Virgin Money's regular saver offer? The Regular Saver Exclusive boasts an interest rate of 10.38% AER - five times the current 2% rate of inflation. The rate is fixed until 31 July 2025, with interest paid quarterly. However, there are a lot of terms you'll need to stick to.
May 1, 2024 · New customers need to fully switch their current account from another provider to one of Virgin Moneys three current account options along with two direct debits using the 'Current Account Switch Service' by 26 June 2024 to receive the bonus interest rate.
Feb 19, 2022 · How much interest you can earn from a Virgin Money account is changing: M Plus Current Account. The interest rate will stay the same at 2.02% AER (Variable) on the first £1,000, and is currently boosted to 5.02% for a year (a 3% fixed bonus) if you switch into the account as a new customer.
May 2, 2024 · Virgin Money is paying 10% interest on current account balances up to £1,000 for the next year if you sign up to one of its three current accounts; M, M Plus and Club M. If you meet the offer conditions you’ll start earning the bonus fixed interest rate of 10% gross/10.47% AER (fixed) on balances up to £1,000 from 1 July 2024 to 30 June 2025.
