Virgin 1 Year Fixed Rate Cash ISA Exclusive issue 11

SamDude

This is no longer available - there is now an Issue 634 at 4.76%

rallycurve

I believe that 4.76% was available before. It does not require a current account and it's on the "older side" of the VM systems 

RG2015

If anyone has opened one it can still be funded for 30 days (up to 25/04/2024) within their ISA limits.

Lumiona

SamDude said:

This is no longer available - there is now an Issue 634 at 4.76%

This means the 30 day countdown is on then to pay into the ISA?

where_are_we

Glad I opened it at 5.25%. I plan to make a deposit for 23-24 tax year by 5/4/24. I assume you can make multiple deposits. I have a regular saver maturing before 5/4/24. I will make a first deposit today and a second deposit next week when RS has matured. Remember that there is a one working day time lapse before your deposit earns interest.

Am I correct in thinking that it`s best not to make a deposit tomorrow and during easter holidays?

If it is still the best rate from 6/4/24, I will make a further deposit for 24-25 tax year and before 25/4/24. Due to the new ISA rules for 24-25 allowing more than one cash ISA I will fund a flexible easy access cash ISA as well. I will then have a mix allowing some easy access and some one year fixed term.

Descrabled

Why is there one day delay before deposit earns interest. Surely, interest is earned on the amount in the account each day at midnight. I intend funding by transfer from my Yorkshire bank account between 8th and 24th May for 24/25 ISA

where_are_we

Descrabled said:

Why is there one day delay before deposit earns interest. Surely, interest is earned on the amount in the account each day at midnight. I intend funding by transfer from my Yorkshire bank account between 8th and 24th May for 24/25 ISA

Apologies - I may have been mistaken seeing this delay in applying interest information when I got accepted for the

Virgin 1 Year Fixed Rate Cash ISA Exclusive issue 11.

I have checked the T&C`s and there is no mention of any delay in applying interest. Just in case, I made my first deposit today online and it is showing immediately when I log in to VirginMoney.

liamcov

Where does it say that they will stop accepting funds into it? I just thought when an account closed it could still be funded by existing account holders??

eskbanker

liamcov said:

Where does it say that they will stop accepting funds into it? I just thought when an account closed it could still be funded by existing account holders??

If you’ve got a Fixed Rate Cash ISA Exclusive

• You can pay money into your ISA as soon as it’s opened, right up until 30 days after we stop selling this account.

https://uk.virginmoney.com/virgin/assets/pdf/cash-isa-exclusives-terms.pdf

where_are_we

Thanks eskbanker - from your link-  " Remember, if you pay into your Cash ISA on
a weekend or bank holiday, your money will
start to earn interest from the next working day.
That means a Monday to Friday and not a bank
holiday. You’ll be able to take your money out

as soon as we receive it."

Interest will be earned immediately on deposits made on banking days, so deposits made tomorrow will start to earn interest that day. Best not to make deposits this Friday Saturday, Sunday and Monday as no interest will be earned until Tuesday 2/4/24.