Virgin Saver Account Review
What happens when I click Apply Now?
- Clicking Apply will take you to your Online Application on the bank's website. You do not need to be a customer of this bank to apply.
- Your application will typically take you no more than 10-15 minutes to complete
- Tip: Have your Tax File Number ready as it will speed up your application.
- In most cases, your new savings account will be setup immediately after you apply.
Now is a great time to be a saver! This savings account has one of the best rates available – interest rates are extremely high to help consumers save as much as possible and get the best returns on their savings.
This Virgin savings account has no fees whatsover, so you don’t have to worry about your savings dwindling due to bank red tape. Apart from offering one of the best interest rates in Australia, you will have savings protection and direct access to your account anytime, 24/7. There is no set minimum balance necessary to open a Virgin savings account.
Rates and charges
The Virgin high interest savings account is a truly fee-free account – there are no fees at all, and the customer can enjoy unlimited free transactions between the Virgin savings account and any other nominated linked bank account. There is no set minimum balance necessary to open a Virgin online savings account either.
| Maximum Variable Rate | 4.75% |
|---|---|
| Standard Variable Rate | 4.75% |
| Bonus Variable Rate | |
| Monthly Fee | $0 |
| Minimum Deposit | $0 |
The rates start high and stay high, unlike many offers which only offer a good introductory rate that disappears soon. The standard interest rate on the Virgin online savings account is a high 4.75% p.a.. In addition, customers can also enjoy an introductory interest rate of p.a. for the first four months.
In order to open a Virgin high interest savings account, you do not need to meet any kind of minimum balance criteria. There is no opening balance required, no minimum balances and no minimum monthly deposit amounts.
This Virgin savings account is also backed by a savings guarantee, so you can sleep easily at night. All your savings will be backed by this guarantee, up to an amount of $1 million dollars. The Australian Government Guarantee is in effect, thanks to the Virgin Money alliance with Citibank.
About Virgin Money
The Virgin savings account is offered by Virgin Money. If you have never heard of Virgin Money before, it is the financial services wing of Sir Richard Branson’s Virgin Group.
Virgin Money was established in Australia in 2003. Today, it offers a wide range of financial services including credit cards, savings accounts, superannuation, car insurance and more.
Virgin Money’s aim is to be a transparen’t and honest financial services company in Australia. They hope to introduce greater fairness for consumers and competitiveness in the Australian financial services industry. Their aim is to do so by offering great deals and great customer service.
A great savings rate like this doesn’t come along every day.
Read the official terms and conditions
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- The Virgin Saver – A No Fee, High Introductory Rate Savings Account
- Find Out How Virgin Saver Savings Account Help You Start Your Savings
- Virgin High Interest Savings Accounts
- Suncorp Bank eOptions Savings Account Review
Top High Interest Savings Accounts
All of these accounts are FREE to open and require no minimum deposit. They all have easy internet banking access with no transaction fees.
| Savings Account | Account Details | Maximum Variable Rate p.a. | Standard Variable Rate p.a. | Bonus Interest p.a. | Fees | Min Balance/Min Deposit | |
|---|---|---|---|---|---|---|---|
 RaboDirect High Interest Savings Account | Limited time offer. Enjoy a leading rate on your savings. | 5.60% | 4.85% | 0.75% | $0 | $0 / $0 |
 
|
 UBank USaver | High ongoing rate plus if you deposit $200 monthly you receive a bonus 0.60% p.a, taking this up to an even higher rate. Open online. | 5.51% | 4.91% | 0.60% | $0 | $0 / $0 |
|
 HSBC Serious Saver | Enjoy an introductory variable rate for 4 months for balances up to $1,000,000. Limited time only! | 5.55% | 4.25% | 1.30% | $0 | $0 / $0 |
|
Hi,
Is Virgin Money backed by Citibank Australia ?
Can I link this account to any bank or credit union ?
Hi James
Citibank is the issuer of the Virgin Saver account.
Yes you can nominate an account to link to the Virgin Saver
Cheers,
Jeremy