Sainsbury's increases rates on savings accounts

Tuesday, 19 April 2011 10:11

Sainsbury’s has increased the interest rate available to savers on their Easy and Online accounts.

Available to new and existing customers, the Online Saver account will now pay 2.85 per cent gross AER (up from 2.7 per cent gross AER), and the Easy Saver account will pay 2.6 per cent gross AER (up from 2.5 per cent gross AER).

The Online saver account allows savers to make as many deposits as they want and to make up to three penalty free cash withdrawals per year. The Easy Saver account allows up to five penalty-free withdrawals per year and also allows savers to deposit funds as often as they wish.

Customers who deposit more than £5,000 into an Easy Saver account qualify for double Nectar points for two years. Both the Easy Saver and Online Saver accounts allow customers to deposit anything up to £2,500 into their savings accounts whilst at the till paying for shopping purchased at Sainsbury’s

Helen Cook, Head of Savings at Sainsbury's Finance said: "We're delighted to give our customers another rate boost, and continue to offer a range of accounts paying competitive rates."

Use the comparison tools to find the best savings account for you.

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