Virgin Money has unveiled a new issue of its easy access savings account that has leapt straight into the Moneyfacts charts for its competitive rate and terms.
Defined Access Saver Issue 4 pays a competitive variable rate of 1.41% yearly (1.40% monthly), enabling it to sit comfortably among the top 10 accounts of its sector.
This account can be opened and operated in branch, by post and by phone with a minimum investment of just £1. Savers should note that access is via a nominated account.
Additional deposits and withdrawals can be made at any time without notice, with up to three withdrawals permitted per calendar year. Further withdrawals will result in a reduced interest rate being paid (0.75%) for the remainder of the year.
The introduction of this deal to the savings market is sure to pique the interest of savers who want instant access to their funds. Paying a top 10 rate, this deal nestles comfortably among its peers in the Moneyfacts charts and also gives savers the option of earning monthly interest. Provided savers are willing to plan their withdrawals carefully, this is an enticing all-round deal.
Moneyfacts rating: Excellent
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