Regular Saver Thread **New and Restarted**

aleph_0

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

Same here, just for Virgin RS issue 7 so far...

karlie88

Assuming they increase the rate on Issues 8-12, this will make for a nice little 0.5% bonus that I wasn't expecting.

Sea_Shell

Just had our emails too.:j:j

Speculator

Had the email also for issue 7.

Probably the first time ever a bank has increased the rate of a Fixed Rate product.

veryintrigued

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.

0.5%?

Am I missing something?

veryintrigued

Deleted_User wrote: »

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

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

veryintrigued wrote: »

0.5%?

Am I missing something?

I think the excitement has got through to karlie

1882

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.