• expired

Boost Saver 5.05% p.a. on Deposits up to $250,000 (5.35% p.a. with Lock Saver), Preceding Month Criteria Apply @ Virgin Money


Just received an email saying Virgin Money is reversing the previously announced interest rate cut to their Boost Saver and will retain the 5.05%/5.35% (locked) rate.
Waiting to see if other BoQ HISA accounts follow suit…

From email:
Virgin Money is always reviewing rates to balance your needs with the fast-changing market conditions. We let you know earlier this month that we would be reducing the interest rate on our Virgin Money Boost Saver on Monday, 27 November 2023. However, given the recent decision by the RBA to increase the cash rate, we’ve decided not to proceed with the decrease and rates will remain unchanged.

This means that the rate on your Boost Saver will continue to be up to 5.05% p.a. when you meet the Monthly Criteria. If the Lock Saver Feature is enabled on your account and you meet the Monthly Criteria, your interest rate will remain at up to 5.35% p.a.

Previous deal - https://www.ozbargain.com.au/node/807795

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Referees will receive 5,000 Virgin Money Points when they open their first Virgin Money Go Account before 31 July 2024 and meet the Welcome Offer Bonus Points Criteria (1 debit card purchase/direct debits/BPAY transaction in the first 30 days).

Referrer will receive 5,000 Virgin Money Points for each referee who meets the Welcome Offer Bonus Points Criteria, for up to 5 referees in a month.

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closed Comments

  • +5

    4 min from email recevied to ozbargin post

  • +3

    Yes, I have just advised by email, BOQ are clowns - a stupid, if not greedy, move on their part to even consider reducing Virgin Money deposit rates before the widely-anticipated RBA rate hike of November….

  • +4

    Too late, yesterday/today is the end of the 32-day notice period for that bonus 0.3%. Anyone who was thinking of withdrawing their money would have done so by now.

    • +1

      Yep, just did it an hour before that email.
      32 days was yesterday for me.

      • which bank did you go?

    • +1

      yep I withdrew a considerable sum from a Virgin Money boost account over the last few days and it won't be returning in a hurry…..

      • +2

        Lock saver is not worth it. It features locking in an uncompetitive rate.

  • On Friday Ubank will be 5.1%. Best bang for the least amount of effort ($200 deposit each month).

  • I was under the impression that ING offered 5.3%

    • 1 year term deposit not the same thing

  • Virgin money is the worst bank to deal with, would not put 1 cent with them…..

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