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Regular Saver Thread **New and Restarted**

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Comments

  • aleph_0
    aleph_0 Posts: 539 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    glider3560 wrote: »
    Unexpected email from Virgin saying the online regular saver issue 7 is increasing to 2.50%. I thought this account was fixed rate? No word on the other issues yet.

    Seconding the fact that the product information sheet states the rate is fixed. Not too surprised, since they mentioned regular saver rates would be increasing after the base rate announcement.
  • gingercordial
    gingercordial Posts: 1,681 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Same here, just for Virgin RS issue 7 so far...
  • karlie88
    karlie88 Posts: 9,114 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Assuming they increase the rate on Issues 8-12, this will make for a nice little 0.5% bonus that I wasn't expecting. :D
    :grouphug: :D Official MSE canny forumite and HUKD VIP badge member :D :grouphug:
  • Sea_Shell
    Sea_Shell Posts: 10,050 Forumite
    Tenth Anniversary 1,000 Posts Photogenic Name Dropper
    Just had our emails too.:j:j
    How's it going, AKA, Nutwatch? - 12 month spends to date = 2.60% of current retirement "pot" (as at end May 2025)
  • Speculator
    Speculator Posts: 2,384 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Had the email also for issue 7.

    Probably the first time ever a bank has increased the rate of a Fixed Rate product.
  • karlie88 wrote: »
    Assuming they increase the rate on Issues 8-12, this will make for a nice little 0.5% bonus that I wasn't expecting. :D

    0.5%?

    Am I missing something?
  • Virginia Money Regular E Saver 7

    Yes, it's fixed. Presumably you can refuse to accept the rise.

    Issue 7 is the oldest unmatured Regular E Saver. I expect VM will be working through Issues 8 to 12 increasing the rate by 0.25pc.

    Their email intimates it's related to the BoE rise.

    Why didn't they reflect the last rise in their rates?!
  • ColdIron
    ColdIron Posts: 9,951 Forumite
    Part of the Furniture 1,000 Posts Hung up my suit! Name Dropper
    I've just received the same announcement for Virgin's Regular E-Saver Issue 8. Same 2.50% starting from September 1st. Looks like they might be going through each issue one at a time

    Thank you Virgin
  • schiff
    schiff Posts: 20,312 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    0.5%?

    Am I missing something?

    I think the excitement has got through to karlie :)
  • 1882
    1882 Posts: 497 Forumite
    Part of the Furniture 100 Posts
    Very nice of them - I suspect it's related to the easy withdrawal and the newer edition at 3% being more attractive and taking money from the older ones to fund it which will be less tempting now.
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