Part of our Virgin Money — Complete Guide 2026 hub.
Virgin Money offers a range of savings products — from instant access accounts to fixed-rate bonds and cash ISAs. Here’s a complete overview, plus an important note on FSCS protection if you also save with Nationwide.
Virgin Money Savings Accounts at a Glance
| Account Type | Access | Interest Style | Notes |
|---|---|---|---|
| Easy access savings | Instant | Variable AER | Standard instant access account |
| Fixed-rate bonds | Fixed term | Fixed AER | Rates locked in for 1–3 years |
| Cash ISA | Instant or fixed | Tax-free AER | Up to £20,000/year ISA allowance |
| Regular saver | Monthly deposits | Variable AER | Periodic availability — check website |
Rates change frequently. Always check virginmoney.co.uk/savings for current AER figures before opening.
Virgin Money Easy Access Savings
Virgin Money’s easy access savings account allows withdrawals at any time without penalty. The interest rate is variable — meaning it can change at any point. Virgin Money is generally competitive on easy access rates compared to other high-street banks, though dedicated online savings providers and building societies often offer higher rates.
For existing Virgin Money current account holders, the main benefit is instant transfers between your current account and savings account via the app or online banking.
Virgin Money Fixed-Rate Bonds
Virgin Money regularly offers fixed-rate bonds over 1, 2, or 3 year terms. These provide:
- A guaranteed fixed rate for the entire term — useful for interest rate planning
- No access to funds until maturity (early access typically incurs a penalty)
- FSCS protection up to £85,000
Fixed-rate bonds are best suited to money you genuinely won’t need before the bond matures. If there’s any chance you’ll need access, an easy access account is the safer choice even at a lower rate.
Virgin Money Cash ISA
A Virgin Money cash ISA allows UK adults (aged 18+) to shelter up to £20,000 per tax year from income tax on interest. The 2026/27 ISA allowance is £20,000.
Virgin Money’s cash ISA is available in easy access and fixed-rate formats:
- Easy access ISA — variable rate, withdraw at any time
- Fixed-rate ISA — rate locked in for the term, no access without penalty
ISA savings are particularly valuable for higher-rate and additional-rate taxpayers, who have a reduced or zero Personal Savings Allowance. All other taxpayers also benefit if their total interest income exceeds their PSA (£1,000 for basic rate, £500 for higher rate from 2025/26).
FSCS Protection — Important Note for Nationwide Customers
Virgin Money was acquired by Nationwide Building Society, with the deal completing in October 2024. Virgin Money continues to operate under the Virgin Money brand, but it now shares a banking licence with Nationwide.
This means: if you hold savings at both Virgin Money and Nationwide, your combined balance counts towards a single £85,000 FSCS limit, not two separate limits.
If your combined savings at Nationwide and Virgin Money exceed £85,000, consider spreading the excess to a different banking group to ensure full FSCS coverage.
| Group | Brands sharing FSCS limit |
|---|---|
| Nationwide Group | Nationwide + Virgin Money |
| Lloyds Banking Group | Lloyds + Halifax + Bank of Scotland |
| NatWest Group | NatWest + Royal Bank of Scotland + Ulster Bank |
How Virgin Money Savings Rates Compare
Virgin Money’s rates are broadly competitive with other high-street banks. For the best available rates:
| Provider type | Rate profile |
|---|---|
| High-street banks (Virgin Money, Lloyds, HSBC) | Moderate — convenient but rarely best-buy |
| Online savings specialists (e.g. Marcus, Atom, Zopa) | Typically higher |
| NS&I | Government-backed, competitive on some products |
For the best easy access rates currently available, see Best Easy Access Savings Accounts UK.
How to Open a Virgin Money Savings Account
Existing Virgin Money customers:
- Log in to the Virgin Money app or online banking
- Go to Products → Savings
- Select the account type and follow the steps
New customers:
- Many Virgin Money savings accounts are open to new customers
- Identity verification (passport or driving licence) is required
- Apply at virginmoney.co.uk or visit a branch