Sainsbury’s passes full base rate change to Internet saver account

From 17th May 2007, Sainsbury’s Bank will increase the interest rate paid on its Internet Saver account by 0.25% meaning it will pay 5.75% Gross AER on all balances.

Unlike some other accounts, you won't lose interest or pay any charges for withdrawing your own money.

Peter Wood, Head of Savings at Sainsbury’s Bank said: “This latest rate increase to our Internet Saver account underlines the competitiveness of this account and our fantastic track record of offering consistent rates to savers in this competitive internet-only savings market. In addition to offering consistently competitive rates of interest, our savings customers benefit from our Rate Promise to pay higher than the average market rate of interest until at least the end of 2010."