This is a great little savings account that will really work hard for customers in the early stages of saving with its high interest rate and long-term rewards. This account comes with good access, a lack of fuss and frills and a lot of security to help set savers’ minds at rest.

What is the Virgin Saver Account?

The Virgin Saver Account is a high interest savings account that comes with the benefits of an account with far less accessibility – but with around the clock access online. It is also much cheaper than many of the savings accounts on the market, and the online application process is very simple to boot.

Is This the Account For Me?

This account will suit people on a low to medium income, due to its guarantee of no fees, ever. That means that people just starting out on their savings plan, who perhaps are earning less but recognise that they need to save for the future, however little, will be able to afford this account. Meanwhile, the high introductory interest rate and relatively high ongoing interest rate will mean their money works harder for them than some other accounts. Having said that, most savers, new to the financial world or old hands, will appreciate the simplicity and rewarding nature of this no-nonsense, cheap and profitable savings account.

The Advantages of This Account

Naturally, the biggest advantage of this account is its rates. Many savings accounts offer a good introductory rate, but then drop to a poor or average rate after a few months or even a year. With this account, the introductory rate is very good, and drops after a specific period to a very reasonable rate, meaning that savers can use the first period to build up interest, and then earn interest on that interest when the rate drops. This is a good deal for savers.

Additionally, with all the financial turmoil of the past few years, the Government Guarantee will help savers’ sleep at night, knowing that their savings are in safe hands and all their hard work saving will not be wasted on a bank going under.

Am I Eligible For This Account?

To apply successfully for the Virgin Saver Account, customers must be aged over 18 years, be a resident of Australia, and have another Virgin account that can be linked with this account.

How Do I Open a Virgin Saver Account?

The Virgin Saver Account is quick and easy to open. The application process is best completed online from the comfort of your own home, and is very straightforward. In just a few easy steps, you can fill in your essential details and wait for a response, which normally comes quickly.