Cash ISA

1.30% AER variable

Apply now

Terms & conditions

Minimum deposit of £500

Key benefits

Tax free savings

  • Earn a tax-free variable rate of 1.30% AER (variable)
  • Between 6 April and 30 June 2014, the total you are able to pay into a Cash ISA is £5,940 for the 2014/15 tax year.
  • From the 1 July 2014, the total allowance for saving in an ISA will increase to an upper limit of £15,000 in a tax year. This means as long as you don't also have an ISA (cash or stocks and shares) with another provider, from 1 July 2014 you can save up to £15,000 in a Sainsbury's Bank Cash ISA
  • ISA transfer service - move existing Cash ISA funds held with other providers
  • Easy to apply and manage either online or by phone
  • Minimum deposit of £500 to open your account
  • Interest is paid annually on the anniversary of account opening
  • Available to new and existing customers

Apply for your Cash ISA now

It's quick and easy to apply for a Sainsbury's Bank Cash ISA. Call us now 0800 028 5306 * or apply online.

Please read our terms and conditions (PDF 150KB) and Key Features (PDF 67KB) before applying.

We are covered by the Financial Services Compensation Scheme.

By tax free we mean free from income tax. The tax treatment, as specified by law, is subject to HM Revenue and Customs rules and may be subject to changes in the future. *Telephone calls may be recorded for security purposes and monitored under our quality control procedures. Calls are free from a landline only.

Find out more

Current rates

Balance tiersAnnual AER
£0 - £4990.50%
£500+1.30%
Interest is calculated daily and paid on the anniversary of account opening. Rates correct from 7th April 2014. Variable interest paid annually. Withdrawals are by transfer to another account only. AER stands for annual equivalent rate and illustrates what the interest would be if interest was paid and compounded each year. Interest will be paid tax free.

All your ISA savings under one roof

With a Sainsbury's Cash ISA you can keep your ISA savings in one place by transferring any of your existing Cash ISAs - ask about our ISA transfer service or complete our transfer in form (PDF 76KB).  This way you can enjoy an attractive rate on all your balances and the  convenience of having your Cash ISAs under one roof. And remember, when you transfer a Cash ISA from another provider, this won't affect your annual Cash ISA allowance.

Take advantage of the £5,940 tax-free limit

Once your Sainsbury's Cash ISA is open you can deposit the full £5,940 annual allowance or make regular deposits into your Cash ISA, whichever is convenient.

No ISA charges whenever you need your money

Access your money with no notice, and no charges or restrictions on the number of withdrawals. Just remember that if you have paid in your full Cash ISA allowance, any amount you withdraw cannot be replaced during the same tax year.

You can only open one Cash ISA during any one tax year and a Cash ISA can only be opened by an individual.

How to pay in

Once your Sainsbury's Cash ISA is open you can deposit up to the full £5,940 into your Cash ISA or make regular deposits in the following ways:

  • Send us a cheque made payable to yourself
  • Transfer funds from an existing Cash ISA with another provider using our transfer in form (PDF 76KB)
  • By bank transfer from your main bank account or existing Sainsbury's Bank savings account

Online Banking

You can use our secure telephone service or our Online Banking Service to check your balance and transactions. Find out more about registering for Sainsbury's Online Banking to access, view and manage your account online in our online support section.

Charges

The following charges will apply:

£5 for a duplicate statement.

Protection against money laundering

Before your account is fully active we'll need to verify your identity. This is to comply with money laundering regulations. In most cases we can do this electronically but we may need you to provide some documents to help us.

Apply now

Before you apply

  • Make sure you have your personal details to hand, including your NI number
  • Have your Nectar card handy, to take advantage of any Nectar card promotions that may be on offer
  • You must be over 18 and a UK resident to open a Cash ISA
  • Please read our terms and conditions, Key Features and privacy statement.

Apply quickly and easily

  • Apply online or by calling us on 0800 028 5306 *
  • You must fund your Cash ISA within 30 days of opening it
*Telephone calls may be recorded for security purposes and monitored under our quality control procedures. Calls are free from a landline only.

Summary Box

Key product information for our Cash ISA savings account

Account nameCash ISA
Interest rates (AERs) Variable interest rate of 1.30% AER
Tax statusInterest will be paid tax free.
Conditions for bonus paymentNo bonus available on this account.
Withdrawal arrangementsUnlimited withdrawals, however remember any amount you withdraw from your Cash ISA cannot be replaced during the same tax year.
Access Telephone and online


AER:
AER stands for annual equivalent rate and illustrates what the interest would be if interest was paid and compounded each year. Variable interest paid tax free, annually. Interest is calculated daily and paid on the anniversary of account opening.

Ts & Cs


To help you decide whether our Cash ISA is right for you read our Key Features (PDF 67KB) document.

Sainsbury's Cash ISA terms and conditions

Please read our terms and conditions (PDF 150KB) and privacy statement.

Please note: our terms and conditions document will open in a new browser window and may take some time to download depending on your internet connection.
 
You can download and print the terms and conditions document with Adobe Acrobat.  Get Adobe Reader.

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For questions

Call 0500 40 50 60 *

Send an email

More phone options

Lines are open: Mon - Fri 8am-10pm and Sat - Sun 8am-6pm

*Telephone calls may be recorded for security purposes and monitored under our quality control procedures. Calls are free from a landline only.

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