Virgin Money 10.38% regular monthly saver

irregular_saver

Does anyone know if this has a minimum monthly pay in amount? I never noted at the time of opening, and now it’s NLA I cannot find the answer anywhere!

I have a gap in my ‘monthly minimum’ column on my spreadsheet and it’s annoying me!

ircE

irregular_saver said:

Does anyone know if this has a minimum monthly pay in amount? I never noted at the time of opening, and now it’s NLA I cannot find the answer anywhere!

I have a gap in my ‘monthly minimum’ column on my spreadsheet and it’s annoying me!

Ts and Cs:

"There is no minimum monthly limit to pay in and you don’t have to pay into the account each calendar month."

bluehydrangeas

Hi everyone. I currently hold a Virgin Regular Saver which is due to mature in late August. The interest payments have been made on a somewhat unusual schedule compared to most accounts I've had. I was paid interest a month after I opened the account, then every 3 months after that. The last interest payment was in June. The account summary document says interest is paid in March, June, September and December. I received interest in September 2024, December 2024, March 2025 and June 2025. 

As I've now received all 4 interest payments, should I just withdraw the remaining money from the account? Usually I wait for the account to mature, but it seems that with this account there is no benefit to waiting, as there will be no further interest paid when it matures. Have I misunderstood anything?

sausage_time

You will continue to accrue interest until maturity.  

Shedman

But it won't be added to the account at maturity.  The RS will be converted into an Everyday Saver account paying 1.75% and the interest earned on the RS from the last interest date to maturity will be carried forward into the Everyday Saver and only paid out at the end of the quarter (i.e, Sept).  

From the email I got from Virgin Money recently (mine matures end of July):

"Interest accrued during July in your Regular Saver Exclusive account will be carried forward to the Everyday Saver account and will be capitalised at the end of September."

As soon as mine converts I'm going to close the Everyday Saver so I get the interest credited then rather than waiting for two more months

wmb194

bluehydrangeas said:

Hi everyone. I currently hold a Virgin Regular Saver which is due to mature in late August. The interest payments have been made on a somewhat unusual schedule compared to most accounts I've had. I was paid interest a month after I opened the account, then every 3 months after that. The last interest payment was in June. The account summary document says interest is paid in March, June, September and December. I received interest in September 2024, December 2024, March 2025 and June 2025. 

As I've now received all 4 interest payments, should I just withdraw the remaining money from the account? Usually I wait for the account to mature, but it seems that with this account there is no benefit to waiting, as there will be no further interest paid when it matures. Have I misunderstood anything?

If you do nothing you'll receive an interest payment in September. After its maturity date it should convert into a normal instant access account so if you want the interest sooner just close the account.

Edit: Which RS do you have? All of the 10.38% RS' mature on 31/07.

Stargunner

bluehydrangeas said:

Hi everyone. I currently hold a Virgin Regular Saver which is due to mature in late August. The interest payments have been made on a somewhat unusual schedule compared to most accounts I've had. I was paid interest a month after I opened the account, then every 3 months after that. The last interest payment was in June. The account summary document says interest is paid in March, June, September and December. I received interest in September 2024, December 2024, March 2025 and June 2025. 

As I've now received all 4 interest payments, should I just withdraw the remaining money from the account? Usually I wait for the account to mature, but it seems that with this account there is no benefit to waiting, as there will be no further interest paid when it matures. Have I misunderstood anything?

It will mature on the 31st July

allegro120

bluehydrangeas said:

Hi everyone. I currently hold a Virgin Regular Saver which is due to mature in late August. The interest payments have been made on a somewhat unusual schedule compared to most accounts I've had. I was paid interest a month after I opened the account, then every 3 months after that. The last interest payment was in June. The account summary document says interest is paid in March, June, September and December. I received interest in September 2024, December 2024, March 2025 and June 2025. 

As I've now received all 4 interest payments, should I just withdraw the remaining money from the account? Usually I wait for the account to mature, but it seems that with this account there is no benefit to waiting, as there will be no further interest paid when it matures. Have I misunderstood anything?

This account matures on 31st July and will morph into 1.75% easy acces from 1st August. On 1st August I will reduce the balance to zero and close the account. Apparently it can take a few days for the account to get closed, but when it's done you will receive your June/July interest.

The interest is paid quarterly, that was in t&c.

jameseonline

I will just wait until the account matures then withdraw everything & keep the morphed account open.

Nasqueron

jameseonline said:

I will just wait until the account matures then withdraw everything & keep the morphed account open.

RS will mature but the interest will not be paid for July until September when the next interest payment is made so you'd get the ~£3123 or whatever it is then the last £30 or something + change in September