Sainsbury’s Internet Saver offer rate of 2.9% extended

Sainsbury's Finance today announces that it will be extending its Internet Saver special offer by an additional two weeks until 5th September 2009. The special offer pays a rate of 2.9% Gross AER (variable) to customers opening an account with deposit balances from £1,000 up to £500,000, for 12 months from account opening. Those opening an account and funding it with at least £1,000 within 30 days will receive a bonus of 1,000 Nectar points.

Sainsbury's Finance Internet Saver will pay the higher rate (2.39% above the account's standard rate), on all Internet Saver balances opened up until 5th September 2009, providing the saver does not make more than three withdrawals in the 12 months. If the number of withdrawals exceeds three during the 12-month period or the balance falls below £1,000 the interest rate reverts to the account's standard rate of interest, currently 0.51% Gross AER.

Sainsbury's Internet Saver account has achieved 'Moneyfacts - Trust It' status for offering a consistently good rate over 36 months. Analysis by Defaqto reveals that Sainsbury's Internet Saver is the only instant or easy access savings account generally available that has consistently paid a gross AER interest rate on a balance of £1 that is equal to or above the Bank of England base rate in each and every month since January 2005.

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 more information, visit sainsburysfinance.co.uk