At present, getting the best interest rate will be a major priority for savers hoping to grow their cash. With the Bank of England raising its Base Rate several times, savers are set to benefit as the rates trickle down to high street providers.
This is true of Virgin Money, which is currently offering a 2.02 percent interest rate on its M Plus current account.
This also comes linked with a savings account called the M Plus saver, offering 2.52 percent interest.
The 2.02 percent rate is available on balances up to £1,000, meaning it is well suited for those saving a limited amount, or who are just getting started on a savings journey.
In turn, the M Plus Saver is currently offering 2.52 percent variable on balances up to £25,000, which provides savers with more flexibility.
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The provider touched further upon eligibility, explaining: “From February 18, 2022, you are only able to open one of these accounts in your own name.
“Accounts opened in your own name after this date that take you over this maximum number will have to be closed.”
With the flexibility of saving in this way, Virgin Money states people can feel comfortable their money is “working hard”.
In-credit interest on a current account and linked savings account can help people keep an eye on their cash and watch it grow.
Furthermore, savers can also set a specific goal, create a Savings Pot for it, and transfer money into it when they can.
Individuals can apply for this account using Virgin Money’s app, or by starting an application through the bank’s website.