Sainsbury’s Launches Two New Fixed Rate Savings Accounts

03 March 2011

Sainsbury’s Finance is today launching two new fixed rate savings accounts, paying up to 4.0% AER, offering new and existing customers another chance to benefit from greater choice and competitive rates.

The accounts complement the existing suite of competitive savings products which already include a two year fixed rate option paying 3.50% AER. The new one and three year options pay 3.0% and 4.0% AER respectively. All three accounts may be opened either by telephone or online, and savers may make one deposit of between £5,000 and £50,000.

The new accounts are available to both joint and single applicants, and customers may opt for monthly or annualised interest paid to a nominated account. Withdrawals are not available during the account’s fixed term.

Helen Cook, Sainsbury’s Finance’s Head of Savings said: “Fixed rate saving options always prove popular so we’ve developed another two for savers who are looking to review their existing accounts and put some money away in the knowledge they’ll get a good return.

“Again, we anticipate significant demand for these new accounts as they are currently among the most competitive.”

To open an account or to find out more information, Alternatively, call 0500 40 50 60.


1 year 3.0% AER
2 year 3.5% AER
3 year 4.0% AER


Sainsbury’s Finance has its own banking licence, is separately regulated by the Financial Services Authority and has an independent membership to the Financial Services Compensation Scheme.


For further information, please contact:

Georgiana Brunner / Tom Wilson
Citigate Dewe Rogerson
020 7638 9571

Sainsbury’s Finance:

To view our latest press releases and product information, please visit the Sainsbury’s Finance online media centre

Sainsbury’s was the first major British supermarket to open a bank, commencing trading in February 1997. Benefiting from a fantastic, trusted brand that enables us to combine the shopping experience with personal finance, Sainsbury’s Finance provides a range of quality products including insurances, credit cards, savings and loans. Our proposition is to make shopping more rewarding by offering customers great products at fair prices, while consistently rewarding shoppers for their loyalty and being easy to do business with at all times.  Our products consistently top Best Buy tables and regularly win awards for quality, price and service.

Sainsbury’s Finance recent awards include Best Overall Online Provider, Best Direct Personal Loans Provider, Best Online Credit Card Provider, Best Online Life Insurance Provider at the Your Money Awards 2010.

Sainsbury’s Finance is a joint venture between J.Sainsbury plc and Lloyds Banking Group.

For further information and general Sainsbury’s Finance enquiries customers can call the freephone number on 0500 40 50 60 or visit