Sainsbury’s launches new fixed rate savings accounts

Sainsbury's Finance has, for the first time ever, launched a set of three new fixed rate savings accounts offering customers a greater choice of competitive savings accounts and rates.

The accounts are available in one-, two- or three-year options, paying 3.0%, 3.5% and 4.0% AERs respectively. Accounts may be opened either by telephone or online, and savers may deposit between £5,000 and £50,000.

The new Sainsbury's Fixed Rate Saver accounts are available to both joint and single applicants, and customers may opt for monthly or annualised interest. Withdrawals are not available during the account's fixed term.

The fixed rate offers can only accept a limited amount of funds and once the limit is reached, the accounts will no longer be available.

Helen Cook, Sainsbury's Finance's Head of Savings said: "We strive to offer customers greater variety and the freedom to choose a savings account that best suits their requirements, so we're pleased to announce these excellent additions to our strong portfolio."

To open an account or to find out more information, visit sainsburysfinance.co.uk.