Sainsbury’s increases rates on Easy and Online Saver accounts

From Tuesday 1st February, the Online Saver account will pay 2.7% gross AER, and the Easy Saver account will pay 2.5% gross AER.

The Online Saver account allows customers to deposit money into the account as frequently as they wish and make up to three penalty-free cash withdrawals per year. Easy Saver customers can make up to five penalty-free withdrawals per year, and this account also allows as many deposits as savers wish to make.

Those placing more than £5,000 in an Easy Saver account will also benefit from double Nectar points; when combined with the base points received when using a Nectar card, customers receive the equivalent of 2% off all their Sainsbury's shopping and fuel.
 
Helen Cook, Head of Savings at Sainsbury's Finance said: "We've increased the rates on both of our easy access accounts to give our customers more choice of competitive rates during a time of year when typically, most people are looking to either find better rates for their savings, or perhaps increase how much they save. Our Easy Saver customers are also rewarded with double Nectar points on their Sainsbury's shopping and fuel."

Sainsbury's SaveBack function, which allows customers to make deposits into their savings accounts whilst paying for their supermarket shopping at Sainsbury's, is available on Easy Saver and Online Saver accounts. With the simple swipe of a debit card plus their SaveBack card, Sainsbury's shoppers can make deposits of between £1 and £2,500 at the till (larger deposits can be made at the Customer Service desk).