Virgin Money is giving savers a boost with a further increase to the rate on its popular linked savings accounts. This is the fifth increase to the linked savings rate for Virgin Money customers in 2022.
From Thursday, 22nd December, the linked savings rate rises from 2.02% to 2.52% AER for all new and existing customers on balances up to £25,000. For balances above £25,000 the rate rises to 2.02% AER from 1.51% AER. The rate increase will be automatically passed on to existing customers. All rates are variable.
Virgin Money current accounts – the M Plus Account, Club M Account and M Account – all automatically come with a linked savings account, making it easy for customers to manage their money and transfer savings to and from their current account. This increase to the linked savings rate offers a competitive rate for customers keen to maximise the return on their savings following the most recent Bank of England base rate increase.
Hugh Charter, chief commercial officer at Virgin Money, said “We know that times are tough at the moment, and we want to make sure new and existing customers are able to make the most of their savings. Heading into the new year, this competitive rate offers a boost to savings with the benefit of an easy access account.”
Further information about opening a Virgin Money M Plus Account, Club M Account or M Account can be found at: Current Accounts | Open a Bank Account online | Virgin Money UK Link opens in a new window. Customers also earn cashback on their everyday spending at participating retailers via Virgin Money Cashback. To learn more about Virgin Money cashback, visit: Virgin Money Cashback | Virgin Money UK Link opens in a new window