Sainsbury's Online Saver account pays 2.5%

Sainsbury's Finance has announced the launch of a new Online Saver account (available from 1st December) paying an attractive rate of 2.5% Gross AER (variable). The account can be opened and managed online.

Available on balances of £1,000 to £100,000, the Sainsbury's Online Saver also allows customers to make unlimited deposits and three withdrawals within a 12 month period.

Customers also benefit from access to SaveBack, Sainsbury's Finance's in store deposit service which allows funds between £1 and £2,500 to be saved directly into their account by simple swipe of their debit card at Sainsbury's tills. Sainsbury's is the only supermarket to allow a seamless deposit transaction with no need to hand over cash or make cheque deposits.

Helen Cook, Head of Savings at Sainsbury's Finance said: "We are determined to ensure that we offer our customers choice as well as competitive rates. We've introduced the Online Saver account because it's perfect for savers who want a good rate on an account that they can set up and manage very easily online."

To open a new Sainsbury's Online Saver account, visit sainsburysfinance.co.uk.

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.