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Virgin Money 10.38% regular monthly saver

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  • n3ophyte
    n3ophyte Posts: 59 Forumite
    Third Anniversary 10 Posts Name Dropper Photogenic
    £162 for about 8 minutes work.
    More like £130 after 20% tax and only £65 if your money is already in a 5% account elsewhere.

    Simply not worth the admin hassle and hard credit check for me.
  • housebuyer143
    housebuyer143 Posts: 4,266 Forumite
    1,000 Posts Third Anniversary Name Dropper
    n3ophyte said:
    £162 for about 8 minutes work.
    More like £130 after 20% tax and only £65 if your money is already in a 5% account elsewhere.

    Simply not worth the admin hassle and hard credit check for me.
    I'll take £65 for a few minutes 'work', and really don't care about hard searches. If I applied your logic to all my regular savers, I'd be passing up many hundreds over the year. 
    Agreed! I don't pay tax on mine so it's definitely worth it to get double the amount of interest on this than the same in my other RS.
  • n3ophyte said:
    £162 for about 8 minutes work.
    More like £130 after 20% tax and only £65 if your money is already in a 5% account elsewhere.

    Simply not worth the admin hassle and hard credit check for me.
    I'm laziness personified, its well worth it for me!
  • WLewer98
    WLewer98 Posts: 52 Forumite
    Second Anniversary 10 Posts Name Dropper
    Virgin state in the summary box "We’ll add any interest on the last working day in March, June, September, and December."

    I presume then that only the June interest payment and final interest payment on maturity will count towards PSA for 2025/26? Can anyone provide an estimate of how much interest will be paid in 2025/26 from this account if it's funded fully each month? TIA

    "Those who forget the past are condemned to repeat it"
  • mika_dm
    mika_dm Posts: 92 Forumite
    Fourth Anniversary 10 Posts Photogenic Name Dropper
    This account is flexible too, plus you can add more in the next month if you didn't contribute enough on the previous one. It feels almost like a easy access saving account.
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