Virgin Money AustraliaVirgin Money Grow Saver
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.
At a glance
- Up to
- 3.30%
- Base rate
- 0.05%
- Bonus rate
- 3.25%
- Monthly fee
- $0
How it compares
This account in ink, against the best that every other institution publishes for anyone to apply for. Each figure is counted the same way for all of them.
What a bonus account pays in a month its conditions aren't met. One dot per institution, at its highest base rate on a bonus savings account anyone can apply for; hover or tap a dot for its name.
| Rate | This account | Best anywhere | Typical institution | Where it sits |
|---|---|---|---|---|
| Bonus savings accountBase plus bonus, when every condition is met | 3.30% | 5.75%Defence Bank Limited's iSaver | 5.25%of 51 institutions | 49th highest of 51, level with one other |
| Bonus account, conditions missedWhat a bonus account pays in a month its conditions aren't met | 0.05% | 3.45%Heritage's Online Saver Account | 0.10%of 43 institutions | 29th highest of 43, level with 6 others |
Rates
Every rate Virgin Money Australia publishes for this account, 3 in all.
How the rate is made up
3.30%in a month every condition is met
| Type | Applies to | Term | Band | Rate | Comparison | Conditions |
|---|---|---|---|---|---|---|
| BonusAdditional 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. | - | - | up to $250,000 | 2.20% | - | paid every 1 mo; Additional variable interest rate earned on a Grow Saver where the optional Lock Saver Feature is enabled |
| BonusAdditional 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. | - | - | up to $250,000 | 3.25% | - | paid every 1 mo; make at least 1 deposit and no more than 1 withdrawal in that month. To unlock Bonus Interest Rate on a particular account you must meet these conditions on that account. |
| Variable | - | - | - | 0.05% | - | paid every 1 mo |
Fees
19 fees published, grouped by when they're charged.
While you hold it3
- Monthly Account Keeping
There are no monthly account keeping fees with our Virgin Money Deposit Accounts.
No fee - Paper Statement - Domestic
Charged for each paper statement that is required to be posted to an address in Australia.
$3 a month - Paper Statement - International
Charged for each paper statement that is required to be posted to an International Address.
$5 a month
When you make a transaction5
- Cash and Cheque Deposit
Charged for each cheque or cash deposit that is made into your account.
$5 - BPAY,Pay Someone, Card Transactions
There is no fee charged by Virgin Money for performing a BPAY Payment, Pay Anyone or making a card transaction. Merchants may charge fee in respect of card transactions which should be advised to you…
No fee - Currency Conversion
Fee charged for any International Transaction which includes: any transaction made in a foreign currency; or when any transaction is processed outside of Australia (in Australian dollars or a foreign…
2.50% of transaction - Domestic ATM Withdrawal
We don't charge a fee to withdraw cash, however a fee may be charged by the ATM Operator and should be displayed on the screen before proceeding with the withdrawal. Most major bank ATMs do not charg…
No fee - Internation ATM Withdrawal
Charged when a withdrawal is performed at an ATM outside of Australia. A fee may also be charged by the ATM owner and should be displayed on the screen before proceeding with the withdrawal.
$5
If a payment is late or fails2
- Cheque Dishonour
Charged for each Cheque deposit that is dishonoured on the same day that the dishonour takes place.
$10 - Direct Debit Dishonour
Charged for each direct debit that is dishonoured on the same day that the dishonour takes place.
No fee
When particular things happen8
- International Balance Enquiry
Charged when a balance enquiry is performed at an ATM outside of Australia. A fee may also be charged by the ATM and should be displayed on the screen before proceeding with the withdrawal.
$2 - Manual Statement
Charged when you request a manual statement to be generated and emailed to you. All statements are available on the Virgin Money App and can be accessed for closed accounts.
$10 - Bank Cheque
Charged for each bank cheque that is produced and posted to an Australian address.
$10 - Electronic Transaction Error Correction Fee
Charged when the bank is requested by you or the recipient Financial Institution or Biller, to correct an error you have made with a BPAY payment, using the 'Pay Someone' functionality, or NPP transa…
$30 - Failed Transaction Dispute
Charged when a transaction dispute is unsuccessful.
$15 - Trace
Charged for each request to perform a trace on any transaction type.
$20 - Domestic Emergency Card Replacement
Charged when we courier a card to you within Australia.
$15 - International Emergency Card Replacement
Charged when we courier a card to you internationally.
$75
Other fees1
- Unclaimed Monies
Charged when the unclaimed monies process starts which is after 7 years of inactivity.
$30
Features
- 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…
- Feel safe knowing your deposits are guaranteed up to $250,000 per customer by the Australian Government's Financial Claims Scheme
Eligibility and limits
- Minimum age 14
- Residency: Australian resident
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Published by Virgin Money under the Consumer Data Right, last changed by them on 21 Oct 2026. Figures are shown as the institution publishes them and can change without notice; confirm on their site before applying. The Finance Algorithm earns nothing from any product listed here.