Massive 10% regular saver with Virgin Money!
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Published 2024-08-02
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#Bankaccounts #savings #interestrates
TIME STAMPS
00:00 Massive 10% saver from Virgin Money
00:44 How regular savers work
02:14 A look at the details involved in the offer
03:24 How this is different from other regular saver accounts
04:55 The requirements to qualify
05:44 How much you could actually make off the interest
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S U B S C R I B E / @becleverwithyourcash
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(You'll also get a free Quidco bonus for signing up)
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W E B S I T E - becleverwithyourcash.com/
A B O U T A N D Y
Andy Webb is a money blogger and journalist. He runs the award-winning website Be Clever With Your Cash, hosts the Cash Chats podcast, presented Channel 5’s Shop Smart Save Money and writes every month for Reader's Digest. Andy also founded the community ukmoneybloggers.com.
DISCLAIMER
Content in these videos does not constitute regulated financial advice. Any offers mentioned were correct at the time of filming.
All Comments (21)
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More details on the site becleverwithyourcash.com/virgin-money-10-regular-s…
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To save you 5 minutes, yes you need a current account.
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Thanks for this. It took me less than 10 minutes to not only setup a current account with them, which you need and can get at no monthly charge, but also setup the savings account and made my first payment into it. We need these type of accounts just to keep up with inflation, but they’re a really good way to get more for your money and have a forced saving. It’s a limit of £250/month for 12 months and means you can expect to have about £160 in interest at the end.
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You are a legend Andy! Thx 👍🏻😄 Just got this set up.
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Opened this and 1 year fixed ISA 5.05%, very happy
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Thank you for this!! I opened both a VM current account to then open this Regular Saver account & threw the £250 straight into it. Appreciate your help so much. Keep fighting the good fight 👍🏼
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Opened this regular saver account and also applied for their 0% credit card. Will be stoozing with the two 😃
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My saving strategy is simple, max out on every bonus rate these banks introduce. I'm currently earning 5.5% at Nationwide, 7% at Santander, 5.1% at Chase (easy access), 12% at Virgin Money (Switch Bonus), 10% also at Virgin Money (Regular Saver), 5.05% also at Virgin Money (fixed ISA) Inflation busting average rates, totally happy with how I'm set up for the next 12 months.
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Absolutely NOT worth it. This is the just way to attract customers. Input is very very limited. Interest that is above standard 5% BoE is funded from new customer acquisition budget. You only have 11 months left. Above standard interest bearing, additional 5% annual you wiII gain you extra £137. That is your new customer acquisition cost. NOT WORTH THE HUSSLE. RUBBISH. And clickbait. Thumb down.
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Thanks Andy , managed to get it 😊
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How many hoops are there to jump through? Just a VM current account it seams
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Thanks, done, the regular account came with a savings account as well me being able to open the 10% savings. Plan is next year take the £166 interest, look round at doing a bank switch and getting another little bit. I also have a Lloyds savings paying %6.25 but I can pay in £400 a month.
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So essentially, you could treat this like a fixed saver, in terms of the pay off at the end, with the benefits being you can pay into it monthly and you still have access to the money
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Never liked these regular savers they just do it to advertise a high interest rate, but have low deposit limits.
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Biggest catch....hard credit check involved if you don't hold a virgin money current account......
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Why not put your money in an instant access account and set up a standing order to this regular saver
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Do Virgin ever offer a switching deal. Thank you 🤔🤔
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How is this good when the ceiling is 1k a year. I get 4.1% with a digital Bank up to max 1 million, now thats good
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What is the equivalent rate for a whole year?
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Set this up this morning - thanks for timely flag. Not big money but already have a current account with V for other deals so might as well. Free money good to min-max. £167.57 interest if you maximise I think 🤔
