Virgin Money Grow Saver (Lock Saver, 32-day notice, 18 or over) Summary
Description
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.
Benefits
- No monthly savings-account fee.
- No upper balance cap in the reviewed ongoing pricing.
Hoops
- Applicants must be at least 18.
- 32 days’ notice is required before withdrawals.
- For bonus interest, make at least 1 qualifying deposit each month. Check the full requirements below.
- No more than 1 withdrawal each month to retain bonus interest.
On this page
Details
Key details
| Product name | Virgin Money Grow Saver (Lock Saver, 32-day notice, 18 or over) |
|---|---|
| Maximum variable rate | 5.50% p.a. |
| Ongoing interest rate | 5.50% p.a. |
| Base interest rate | 2.25% p.a. |
| Minimum age | 18 years |
Source: noren.com.au
All comparison details
| Base | 2.25% |
|---|---|
| Ongoing | 5.50% |
| Ongoing cap | No cap |
| Intro | - |
| Intro cap | - |
| Intro period | - |
| Dep/mth | 1 |
| Dep $/mth | - |
| Growth/mth | $0 |
| Buys/mth | 0 |
| Txns/mth | 0 |
| W/d/mth | 1 |
| Min age | 18 |
| Max age | - |
| Fee/mth | $0 |
Source: noren.com.au
Rates & features
Interest rates
Variable rates % p.a. at $699, assuming applicable bonus conditions are met.
- Base: 2.25% p.a., before bonus interest.
- Ongoing: 5.50% p.a. when bonus conditions are met. No upper cap.
Full rate breakdown
| Type | Rate | Applies to | Balance |
|---|---|---|---|
| Base rate component | 2.25% | Whole balance | All balances |
| Ongoing total, conditions met | 5.50% | Whole balance | All balances |
Source: noren.com.au
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Requirements
- Make at least one deposit and no more than one withdrawal into this Grow Saver during the same calendar month. The ongoing bonus applies to all credit balances.
- Enable Lock Saver to earn the separate notice increment on all credit balances. A 32-day notice period is required to access funds. The notice increment stops as soon as unlocking is requested, including throughout the waiting period. If monthly criteria fail, only base plus the enabled-lock increment is earned.
- Qualification timing: Requirements are assessed in the current month. Check the settlement deadlines and exclusions in the requirements.
Fees
- Monthly account fee: $0
Showing reviewed fees only, other charges may apply
How to apply
Check these eligibility requirements before applying with Virgin Money.
- You must be at least 14 years of age to apply for a Virgin Money Grow Saver
- Australian resident: Australian resident
- Personal use, Australian residential eligibility and Virgin Money app required. Joint and individual account groups qualify separately. Base comparison assumes the relevant shared bonus allowance is available.
- Lock Saver is an optional adult-only feature, no under-18 locked scenario is offered.
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Sources & review
Noren aggregates information from multiple primary sources to ensure you're getting the most up-to-date, accurate information. All product information is peer reviewed.
Collected and verified on 31 Oct 2026.