Spotlight On: Virgin Money savings accounts

 

Simon Read
Saturday 07 January 2012 01:00 GMT
Comments

Your support helps us to tell the story

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.

At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.

Your support makes all the difference.

The deal

Virgin Money has launched its first savings deals through Northern Rock since its takeover of the former bank. Its Easy Access Saver account and ISA both pay 2.85 per cent.

Good points

They have no introductory bonuses. That may sound negative but it means what you get what you see and the rate won't slump 2 per cent next year. Also, accounts can be opened in branches, online, by post and by telephone.

Bad points

There are better deals out there, notably Santander's eSaver Issue 4 account, which pays 3.1 per cent.

Conclusion

It's a good start from Virgin Money, which raises hopes that further market-challenging accounts will follow. Things are improving for savers as competition begins to hot up.

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in