Virgin Savings Accounts
Virgin has just announced a new High Interest Savings Account. To enable consumers to receive the best returns on their savings, Virgin is offering some of the best interest rates in the market.
The new Virgin Online Savings Account has absolutely no fees. You’ll sleep easy knowing that your savings account is growing on its own – without the exorbitant fees charged by the competition. Not only does Virgin offer some of the best interests rates in the country, your savings are fully guaranteed, and you’ll be able to access your account 24 hours a day, 7 days a week – for free. In addition to these great features, no minimum balance is necessary to open an account.
| Savings Account | Maximum Variable Rate p.a. | Standard Variable Rate p.a. | Bonus Interest p.a. | Fees | Min Balance/Min Deposit | |
|---|---|---|---|---|---|---|
 Virgin Saver Account |
4.75% | 4.75% | $0 | $0 / $0 |
|
About Virgin Money
The Virgin savings account is offered by Virgin Money. If you have never heard of Virgin Money before, it is the financial services wing of Sir Richard Branson’s Virgin Group.
Virgin Money was established in Australia in 2003. Today, it offers a wide range of financial services including credit cards, savings accounts, superannuation, car insurance and more.
Virgin Money’s aim is to be a transparent and honest financial services company in Australia. They hope to introduce greater fairness for consumers and competitiveness in the Australian financial services industry. Their aim is to do so by offering great deals and great customer service.
Rates and charges
The Virgin high interest savings account is a truly fee-free account – there are no fees at all, and the customer can enjoy unlimited free transactions between the Virgin savings account and any other nominated linked bank account. There is no set minimum balance necessary to open a Virgin online savings account either.
Customers can enjoy the highest rates in Australia. For once, let the rates work for you and not the banks! The rates start high and stay high, unlike many offers which only offer a good introductory rate that disappears soon. The standard interest rate on the Virgin online savings account is a high 5.35% p.a., which is much higher than any other rates currently on offer in Australia. In addition, customers can also enjoy an introductory interest rate of 6.51% p.a. for the first four months on accounts under $250,000.
In order to open a Virgin high interest savings account, you do not need to meet any kind of minimum balance criteria. There is no opening balance required, no minimum balances and no minimum monthly deposit amounts.
This Virgin savings account is also backed by a savings guarantee, so you can sleep easily at night. All your savings will be backed by this guarantee, up to an amount of $1 million dollars. The Australian Government Guarantee is in effect, thanks to the Virgin Money alliance with Citibank.
