The Virgin Saver is one of several new banking products offered by Sir Richard Branson’s Virgin Money. Virgin Money is the financial services arm of Branson’s Virgin Group. Branson said the purpose of the launch of the products was to shift control from the consolidated ‘Big Four’ banks that don’t offer Australians the rights to choose better, more competitive banking products. By allowing Australian’s the right to choose better products, Branson says the citizens stand to save $10 billion collectively over the next 10 years. The Virgin Saver is one of those products.
Compare High Interest Savings Accounts
Find the best Savings Account with a High Interest Rate
High Interest accounts are designed to help you meet your savings goals. Typically these accounts have slightly higher rates than normal, everyday savings accounts. The majority of these accounts reward you for not making a withdrawal within a period of time - an extremely useful feature if you're trying to save for your next holiday, a big ticket item, or your child's education.
Most providers have special interest only savings accounts. Interest is usually paid on a daily basis (which makes a big difference to your balance over the long term), and often there is no minimum balance, making it easy to get an account up and running.
Top High Interest Savings Accounts Comparison| Introductory Interest Rate | Standard Interest Rate | Intro Period (up to) | Interest Paid | Fees | Minimum Balance | Apply Online | |
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5.80% p.a. | 4.75% p.a. | 6 Months | Monthly | Free | n/a |   |
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5.75% p.a. | 4.50% p.a. | 4 Months | Monthly | Free | n/a | |
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5.50% p.a. | 4.15% p.a. | 4 months | Monthly | Free | $1 | |
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6.00% p.a. | 4.25% p.a. | 30th September 2010 | Monthly | Free | n/a | |