|Rates & Interest|
|Ongoing rate for new customers
|Great 3.75% p.a.* variable ongoing rate|
|Compound interest earned||Yes|
|Government Guarantee#||Through our alliance with Citibank, savings of up to $250,000 are covered by the Australian Government Guarantee#|
|No fees, whatsoever||Zero, zip, nada|
|Apply online||10 minutes (if that)|
|Online and phone self service||24/7|
Watch your savings add up
We've created a savings calculator to help you to work out how much you need to save each week, fortnight or month to reach your savings goal, sooner. Once you’ve worked out how much you need to save, you can set up your Automatic Savings Plan and have your money transferred into your savings account, automatically. If your savings goals change for any particular reason, you can use the calculator to adjust your plan.
Virgin Saver Calculator
Disclaimer: The calculator is supplied by InfoChoice Ltd for illustrative purposes and shouldn’t be relied upon as an exact reflection of the Virgin Saver product. The projected savings amount assumes interest is calculated and paid at the same frequency at which deposits are made. The default interest rate shown is the current Virgin Saver variable ongoing rate. The interest rate entered is assumed to stay constant over the entire period. This projection does not take into account any fees, taxes or inflation. Rates that apply to an account may change over time.
Regular savings can really add up
You could reach your savings goal even faster with the Virgin Saver Automatic Savings Plan (ASP). By regularly topping up your initial savings deposit, your savings goals could become a reality in no time with a great rate on your Virgin Saver account.Easy to set up or change
- No fees to worry about and you can change or cancel your Automatic Savings Plan at any time
- Money is automatically transferred from your linked account to your Virgin Saver account
- We do all the work for you, you simply set the rules
Applying is easy
It takes less than 10 minutes to apply for a Virgin Saver account using our simple online form.
Who can apply?
- All Australian residents for tax purposes aged 18 or older
- Those wishing to set up joint accounts
- Sorry, no applications for businesses purposes or in a business name or self managed super funds.
Have the following handy
- Details for the account you’ll be transferring funds from to the Virgin Saver
- Tax File Number (TFN) or Exemption Code
- Mobile number and email address
- Driver's Licence number (if you've got one – doesn't matter if you don't)
You'll have an email response 60 seconds after clicking submit on the form. From there, the account will be ready to use once all applicants have been identified and you've received an email advising that you're ready to start really saving.
Terms & Conditions apply and are available by clicking here. As this is an online account we can only accept electronic deposits and cheques, and all withdrawals must be made to your nominated linked account. While there are no fees payable on your Virgin Saver Account whatsoever, fees may apply to your nominated linked account. Please check with the relevant financial institution where your nominated linked account is held. Any advice is of a general nature only. We haven’t taken into account your objectives, financial situation, or needs when preparing it. Before acting on this advice you should consider if it's appropriate for your situation. Details about our dispute resolution system can be found by clicking here.
Virgin Money (Australia) Pty Limited ABN 75 103 478 897 AR No 280884 promotes and distributes Virgin Saver as an Authorised Representative of Virgin Money Financial Services Pty Ltd ABN 51 113 285 395 AFSL No. 286869. Citigroup Pty Limited ABN 88 004 325 080 AFSL No. 238098 (“Citibank”) is the issuer of Virgin Saver.
*3.40% p.a. variable ongoing rate applies to customers who take out a Virgin Saver product from 14 May 2012. For customers who opened a Virgin Saver product prior to 14 May 2012 a variable ongoing rate of 2.60% p.a. applies.
#Total balances of $250,000 or less will automatically access (fee free) the Australian Government Guarantee under the Financial Claims Scheme. As Citibank issues the Virgin Saver and is the registered ADI under the Financial Claims Scheme, the sum of all balances held in Virgin Saver and any other Citibank accounts will be covered by the Australian Government Guarantee up to a maximum of $250,000 per person. For more information go to www.apra.gov.au or call 1300 55 88 49.
+Please note that fees and other charges may apply on your Nominated Linked Account.
Please note that to read our PDF forms you will need to have Adobe Reader installed on your computer.
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