Sainsbury's Finance Easy Saver account rate increased

Sainsbury's Finance has increased the interest rate on its Easy Saver account by 0.2% to 2.7% Gross AER for accounts opened from Friday 25th June.

This rate applies to sole and joint accounts opened online or by telephone, providing customers maintain a balance between £1 and £100,000.

The Sainsbury's Easy Saver offers a rate of 2.70% (which includes a 12 month reward rate, reverting to base* after 12 months) providing the saver does not make more than five withdrawals in this period. If the number of withdrawals exceeds five during the 12-month period or the balance exceeds £100,000, the interest rate will revert to the account's standard interest rate, currently at 0.50% AER Gross.

All Sainsbury's shoppers receive double Nectar points on their shopping in store, online and in petrol filling stations for two years when taking out a Sainsbury's Easy Saver account with a minimum balance of £5,000. For customers spending £50 per week with Sainsbury's, this means £52 worth of Nectar Points a year, on top of highly competitive interest rates.

Helen Cook, Head of Savings at Sainsbury's Finance said: "Our Easy Saver account offers a highly competitive rate and holds great appeal for customers who want an instant easy access account with telephone access and an attractive rate. Coupled with our Double Nectar offer, this is an incredibly attractive product for Sainsbury's shoppers."

The Easy Saver offer has options for annual or monthly interest. To find out more about Sainsbury's Finance's new Easy Saver offer, visit sainsburysfinance.co.uk.