Virgin 1 Year Fixed Rate ISA 5.05%

VXman

Can someone help me understand this ISA. 5.05% 1 year fix issue 14.

I am trying to work out when it matures but it doesn't state it in the app or on the website. . According to my account in the app the first payment to go into this was on August 9th but for some reason on my spreadsheet I have written it matures on 31st august 2025.

Should it mature on August 8th 2025 if I opened it on August 9th 2024?

PS Just found the info sheet online and it suggest it matures 29/08/25. Is this correct - over a year?

Kim_13

VXman said:

Can someone help me understand this ISA. 5.05% 1 year fix issue 14.

I am trying to work out when it matures but it doesn't state it in the app or on the website. . According to my account in the app the first payment to go into this was on August 9th but for some reason on my spreadsheet I have written it matures on 31st august 2025.

Should it mature on August 8th 2025 if I opened it on August 9th 2024?

PS Just found the info sheet online and it suggest it matures 29/08/25. Is this correct - over a year?

Virgin Money wouldn’t be the only provider where the duration was approximate - my NatWest 2 year opened in July 2023 (I think) and transfer in completed in August 2023 doesn’t mature until 4/9. Also YBS, where I opened a 3 year in November 2022 that matures on 1/1/26. Some providers have obviously taken the view that releasing products in tranches and having everyone’s interest due on the same day is easier to manage.

Archerychick

VXman said:

Can someone help me understand this ISA. 5.05% 1 year fix issue 14.

I am trying to work out when it matures but it doesn't state it in the app or on the website. . According to my account in the app the first payment to go into this was on August 9th but for some reason on my spreadsheet I have written it matures on 31st august 2025.

Should it mature on August 8th 2025 if I opened it on August 9th 2024?

PS Just found the info sheet online and it suggest it matures 29/08/25. Is this correct - over a year?

I contacted them to check and mine matures 29/08 

flaneurs_lobster

Archerychick said:

I contacted them to check and mine matures 29/08 

...as does mine.

clairec666

Virgin tends to offer accounts with a fixed maturity date, rather than "exactly one year". So for example the 1 year fix currently on offer has a maturity date of 24/8/2026. I've got one that matures on Christmas Eve this year, which is definitely not the date I opened it last year!

Bobblehat

VXman said:

Can someone help me understand this ISA. 5.05% 1 year fix issue 14.

I am trying to work out when it matures but it doesn't state it in the app or on the website. . According to my account in the app the first payment to go into this was on August 9th but for some reason on my spreadsheet I have written it matures on 31st august 2025.

Should it mature on August 8th 2025 if I opened it on August 9th 2024?

PS Just found the info sheet online and it suggest it matures 29/08/25. Is this correct - over a year?

KPI saved when opened ....

flaneurs_lobster

Odd account that VM fixed, been allowing me to add the odd few £££ throughout the term when I don't think it shouldah.

VXman

Thanks for all those responses saying 29/08. Seems correct. Annoying as I just opened an ISA with Cynergy and requested to transfer the Virgin account in. I told them it was due to mature within 15 days (not true now) but I did say don't move it until it matures. Be interesting to see how they deal with that!!!

flaneurs_lobster

VXman said:

Thanks for all those responses saying 29/08. Seems correct. Annoying as I just opened an ISA with Cynergy and requested to transfer the Virgin account in. I told them it was due to mature within 15 days (not true now) but I did say don't move it until it matures. Be interesting to see how they deal with that!!!

Be useful if you were to let us know how it goes - there's clearly a fair few on here that'll need to decide if/where to xfer this maturing ISA

surreysaver

VXman said:

Can someone help me understand this ISA. 5.05% 1 year fix issue 14.

I am trying to work out when it matures but it doesn't state it in the app or on the website. . According to my account in the app the first payment to go into this was on August 9th but for some reason on my spreadsheet I have written it matures on 31st august 2025.

Should it mature on August 8th 2025 if I opened it on August 9th 2024?

PS Just found the info sheet online and it suggest it matures 29/08/25. Is this correct - over a year?

Whenever I open an account, whether it's an ISA, current account, credit card or whatever, I always download and store a copy of the T&Cs in a folder on my computer, where I will also download and store statements from that account, for future reference, as sometimes things like this throw you.