Virgin Money Grow Saver

savings accountterms checked

Grow Saver is a savings account from Virgin Money. At $50,000 it pays 3.55% p.a. in a month in which the conditions below are met and 0.05% when they are not.

Rate tiers

Every balance band in the bank's feed: base is the rate when the bonus conditions are not all met, bonus the add-on for meeting them, conditional the two together.

Each rate is paid on the whole balance: the balance falls into one band and earns that band's rate.

The bonus is paid on top of the base rate in a month in which the conditions are met; conditional is the two together, and the base rate is what is paid otherwise.

The bonus is paid on balances up to $250,000; the band above it shows what the feed states there.

Conditions

For the bonus rate

• Additional variable interest rate earned on a Grow Saver where the optional Lock Saver Feature is enabled. Provide 32 days' advance notice to unlock your account or withdraw your money. This feature may be suitable for savings you don't need to immediately access.

Other conditions

• 3.25% of the bonus needs at least 1 deposit and no more than 1 withdrawal each month; the other 2.20% needs Lock Saver (32 days' notice to withdraw)

Bonuses the ranking leaves out, because the feed limits them to some people only (an age band, selected customers, new arrivals):

• 2.20% on $0 – $250,000: Additional variable interest rate earned on a Grow Saver where the optional Lock Saver Feature is enabled. Provide 32 days' advance notice to unlock your account or withdraw your money. This feature may be suitable for savings you don't need to immediately access.

Features

app

yes

Osko

yes

PayID

yes

notifications

yes

transactions

unlimited

Other features, in the bank's words:

• Earn an additional variable interest rate earned on a Grow Saver where the optional Lock Saver Feature is enabled. Provide 32 days' advance notice to unlock your account or withdraw your money. This feature may be suitable for savings you don't need to immediately access.
• Feel safe knowing your deposits are guaranteed up to $250,000 per customer by the Australian Government's Financial Claims Scheme

Fees, limits and who can open it

monthly fee

$0

other fees named

Currency Conversion (no amount in the feed)

bonus paid up to

$250,000

interest paid

monthly

interest calculated

daily

age

ages 14 and over

open to

personal customers

Who can open it, in the bank's own words:

• residency: Australian resident

About this account

If you don't need an everyday bank account, but you're after the benefit of a dedicated high interest savings account, a Grow Saver has your name all over it.

Data

• Virgin Money's own page for this account.
• The bank's documents its product record links to: terms and conditions, fees, eligibility.
• Our verbatim snapshot of the bank's product record (source), as fetched on 13 November 2026.
• We read the bank's own page and terms against this page on 1 November 2026: grow-saver, bank-and-save; conditions they state and its feed does not are listed above.
• /au/finance/savings-accounts/v1/brands/virgin-money.json: this bank's accounts and every balance band as JSON; Virgin Money's page lists them.
• The bank last updated this record on 11 November 2026. Rates are per annum as the bank states them; "stale" means the bank has not updated the record for over 60 days or since the latest cash rate change.

Other accounts at Virgin Money

• Boost Saver savings account, 5.80% conditional at $50,000
• Go Account transaction account

All of Virgin Money's accounts on its page, with its best rates per segment and rate kind, and every account at every bank.