Virgin Money has boosted the rate of its easy access account by 0.06%, allowing it to move up the Moneyfacts charts.
Defined Access E-Saver now pays 1.41% yearly (1.40 monthly), which is just below the market-leading rate in its sector.
This account must be opened and operated online, although there is a branch-based version available for those who prefer not to bank online. A minimum investment of just £1 is required.
Further additions are welcomed and withdrawals can be made at any time without notice. However, savers should not that any more than three withdrawals per calendar years will result in a reduced interest rate of 0.75% being paid.
The rate boost has made this highly competitive account even more attractive, raising it up to sit just behind the market-leader of its sector. The small initial investment, along with the option to make further additions and access funds without notice, add extra appeal. However, savers must be aware that only three penalty-free withdrawals can be made per calendar year, which means that some planning is required.
Moneyfacts rating: Excellent
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