5.5/10

Based on 406 Virgin Money product reviews as rated by the Mozo customers. More about the Mozo Customer Ratings.

Virgin Money savings accounts

Virgin Money is a financial services company that differentiates itself with a high focus on customer service and a strong brand. It aims to offer great value banking and insurance products designed around what customers really want. In Australia, Virgin Money's banking products include savings accounts, credit cards, super and it also has a range of general insurance products including home and contents, car and travel insurance.

Virgin Money offers the following savings accounts

Rates and fees verified as correct at 14 October 2024. Other information correct at the time of writing. Advertiser disclosure.
Product Interest rate Maximum rate Govt deposit guarantee
Boost Saver with Go Account

0.05% p.a.(for $0 and over)

5.05% p.a. (for $0 to $250,000)

Yes up to $250,000

Boost Saver with Go Account (Under 18 years old)

0.05% p.a.(for $0 and over)

5.05% p.a. (for $0 to $250,000)

Yes up to $250,000

Boost Saver with Go Account (Under 18 years old) (Lock Saver Feature)

0.05% p.a.(for $0 and over)

5.35% p.a. (for $0 to $250,000)

Yes up to $250,000

Boost Saver with Go Account - Lock Saver Feature

0.05% p.a.(for $0 and over)

5.35% p.a. (for $0 to $250,000)

Yes up to $250,000

Grow Saver

0.05% p.a.(for $0 and over)

2.00% p.a. (for $0 and over)

Yes up to $250,000

Grow Saver (Lock Saver Feature)

0.05% p.a.(for $0 and over)

2.30% p.a. (for $0 and over)

Yes up to $250,000

How are Virgin Money savings accounts rated?

Mozo users have rated Virgin Money savings accounts on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

Icon of savings-accounts
Virgin Money savings accounts customer reviews
Overall
4.2/10
Price
7.0/10
Features
3.8/10
Customer service
3.8/10
Convenience
3.6/10
Trust
3.9/10
Based on 45 Virgin Money product reviews as rated by the Mozo customers. More about the Mozo Customer Ratings.
Mozo recommends that ratings are only one factor to be taken into account when deciding whether to take up any financial product offer.

Recent Virgin Money savings account reviews

Virgin Money Boost Saver with Go Account
Overall 7/10
Rewarding interest!

One you get the hang of the product linked to the high interest savings account then it’s effortless.

Read full review

One you get the hang of the product linked to the high interest savings account then it’s effortless.

Price
8/10
Features
6/10
Customer service
8/10
Convenience
10/10
Trust
8/10
Less
Stacey, New South Wales, reviewed about 1 year ago
Virgin Money Boost Saver with Go Account
Overall 9/10
Excellent interest rate, easy app and transfers

I switched to Virgin Money earlier in the year and the experience has been excellent. It has been really easy to set up and manage ongoing. The interest rate is very competitive (which is great when you're putting away decent money each month). The app is incredibly easy to use and card easily added to digital wallet. Transfers to other banks are also quick Haven't had to interact with customer service yet, so can't make a comment here. Lock in saver can be difficult if you need to access money quickly (30 days' notice needed). But worth it for the higher interest rate. Suggest you have a reserve somewhere else

Read full review

I switched to Virgin Money earlier in the year and the experience has been excellent. It has been really easy to set up and manage ongoing. The interest rate is very competitive (which is great when you're putting away decent money each month). The app is incredibly easy to use and card easily added to digital wallet. Transfers to other banks are also quick Haven't had to interact with customer service yet, so can't make a comment here. Lock in saver can be difficult if you need to access money quickly (30 days' notice needed). But worth it for the higher interest rate. Suggest you have a reserve somewhere else

Price
10/10
Features
8/10
Convenience
10/10
Trust
9/10
Less
Alexandra, New South Wales, reviewed over 1 year ago
Virgin Money Boost Saver with Go Account
Overall 4/10
Jump through hoops to meet monthly criteria

Interest rates are good, if you can meet the criteria. I have been with over 6 banks ans never has it been hard to meet the criteria. They make you jump through hoops to get the advertised interest rate. The criteria applies only for the next month, not the current month either. Not a good system. And you need to deposit yours savings into your transaction account for it to apply, not your savings account? Like why??

Read full review

Interest rates are good, if you can meet the criteria. I have been with over 6 banks ans never has it been hard to meet the criteria. They make you jump through hoops to get the advertised interest rate. The criteria applies only for the next month, not the current month either. Not a good system. And you need to deposit yours savings into your transaction account for it to apply, not your savings account? Like why??

Price
9/10
Features
9/10
Customer service
4/10
Convenience
4/10
Trust
3/10
Less
Anon, Western Australia, reviewed over 1 year ago
Virgin Money Savings Account
Overall 1/10
High Interest account is NOT high Interest

Their high interest account is not high interest as they do not pay what they say they will. It is designed to deliberately not pay the bonus and you have to chase them for it, I had double the amount in my account the second month yet I received just $21 interest yet the first month I received $42.19 for have $30,000 less ? You have to go chasing around on a phone they never answer and chat they also never answer as busy, yes I bet they are. Do yourself a favour and do as I did remove your money and close your account

Read full review

Their high interest account is not high interest as they do not pay what they say they will. It is designed to deliberately not pay the bonus and you have to chase them for it, I had double the amount in my account the second month yet I received just $21 interest yet the first month I received $42.19 for have $30,000 less ? You have to go chasing around on a phone they never answer and chat they also never answer as busy, yes I bet they are. Do yourself a favour and do as I did remove your money and close your account

Price
3/10
Features
1/10
Customer service
1/10
Convenience
4/10
Trust
1/10
Less
Karen, Queensland, reviewed over 1 year ago
See all savings account reviews
Mozo recommends that ratings are only one factor to be taken into account when deciding whether to take up any financial product offer.
Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers.

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