Virgin Money dropping rates

home_alone

Dropping rates 15 Oct

Neil_Jones

More details on the ISA rate drop:

THE INTEREST RATE ON YOUR VIRGIN MONEY CASH E-ISA IS CHANGING
We are writing to let you know that on 4 August 2016, the Bank of England reduced the Base Rate* to 0.25%. As a result, we will be reducing the interest rate on your Virgin Money Cash E-ISA(s) with effect from 15 October 2016.

We appreciate you saving with us and never take your custom for granted. Our aim is to ensure that our savings rates always remain good value and the latest rates are shown in the table below. A change of 0.25% is only a reduction of £2.50 in annual interest for an average balance of £1,000.

Defined Access E-ISA Issues 2 and 4 - 3 withdrawals or less dropping to 1.26% from 1.51%. For four or more withdrawals the rate is dropping from 0.75% to 0.50%.

1.26% isn't too bad I suppose in the grand scale of things, as new ISAs from Virgin only come in at 1.16%. and the next best outside of them for easy access is The AA at 1.19%.