Sainsbury's launches new fixed rate savings accounts

Sainsbury's Finance is launching two new fixed rate savings accounts with the one year option paying 3.35% and the two year account paying 3.85% AER.

In addition, Sainsbury's Finance is currently offering new and existing customers the option of a three year fixed rate savings account paying an attractive rate of 4.05% AER.

All three accounts may be opened either by telephone or online, and savers may make one deposit of between £5,000 and £50,000. The accounts are available to both joint and single applicants, and customers may opt for monthly or annualised interest paid to a nominated account. Withdrawals are not available during the account's fixed term.

Helen Cook, Sainsbury's Finance's Head of Savings said: "Today's launch is the latest in a number of competitive fixed rate savings accounts that we've launched this year. These accounts have all proved very popular with customers who want to put some money away in the knowledge that they'll get a good return. As with our previous fixed rate savings launches, we anticipate a high demand for these new accounts so would advise anyone interested in applying to do so quickly whilst they're still available."

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

These accounts are limited offers and may be withdrawn at any time.

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.