Rewarding ways to save

Be rewarded for saving with our Easy Saver savings account.

• Deposit a minimum balance of £5,000, within 30 days of account opening and maintain at least this amount for 2 years to get Double Nectar points on your Sainsbury’s shopping
• Earn 2.50% AER variable for 12 months.
• Apply in minutes - no forms to fill in

Our Easy Saver savings account gives you Double Nectar points* on all your Sainsbury’s shopping and fuel for 2 years. That’s enough points to give you a week’s free shopping. Now that’s rewarding!

Your week’s free shopping is calculated by adding together the base points you normally earn instore/online and the bonus points awarded when you take out a qualifying Sainsbury’s Finance product. Additional terms and conditions apply.

Jennifer spends £49 a week in Sainsbury’s on shopping for the family and swipes her Nectar card every time she shops. By taking out one of our selected Sainsbury’s Finance products, she doubles her points every week. That means she can earn enough points to get a week’s free shopping once a year. Now that’s rewarding!

Remember if your Easy Saver balance falls below £5,000 then you will no longer qualify for the Double Nectar points offer.

At the end of the 12 month period the rate will revert to the standard Easy Saver interest rate at that time. (Currently 0.50% AER/gross pa). For full rate and conditions information, please see below.

This Easy Saver offer (rate and conditions) is available for a limited period, for qualifying Easy Saver accounts opened and funded during the offer period, and may be withdrawn at any time.

Your Easy Saver account will not be fully opened until all identity checks have been successfully completed. If, during this time, we withdraw and promote a new Easy Saver offer (rate and/or conditions), the new offer (rate and/or conditions) will apply to your Easy Saver account.

Easy access

You can get to the money within your savings account whenever you want, up to 5 withdrawals during 12 months, with no notice needed. You can make more withdrawals, though your interest rate will revert to the standard Easy Saver interest rate at that time (currently 0.50% AER/gross pa).

Easy to manage

You can use our secure telephone service or our Online Banking service to access your savings account, check transactions and transfer funds.

Easy ways to save

We offer several easy and convenient ways to pay into your savings account.

• Bank transfer – transfer money electronically to your account
• Standing order – top up your savings regularly each month
• Cheque – by post using personalised pay in slips, available on request
• SaveBack – save when you shop instore

If your balance exceeds the offer maximum balance, due to you depositing additional funds or monthly interest being credited to your account, then your interest rate will revert to the standard interest rate (currently 0.50% AER/gross pa), from the date of you depositing more funds or monthly interest being credited to your account, and will apply to your whole balance.

No Nectar card?

Don’t worry. To take advantage of our savings account offer, you can apply for a Nectar card online at (www.nectar.com). You’ll be given a card number straight away and your new card will be posted to you. Or pick up a pack instore and fill out one simple form. There’s a Nectar card in the pack so you can start using it as soon as you activate it.

Current rates

13/01/10 - to date	Annual AER/gross p.a.	Monthly AER/gross p.a.	Monthly gross
£1 - £50,000*	2.50%	2.50%	2.47%
£50,001+*	0.50%	0.50%	0.50%

Easy Saver variable rate and conditions: This Easy Saver offer (rate and conditions) is only available for a limited period and may be withdrawn at any time. For qualifying Easy Saver accounts opened and funded during this offer period, this variable rate (currently 2.50% AER/gross pa), and conditions, will apply for 12 months from your account opening date. Your first deposit must be between £1 and £50,000. At the end of the 12 month period the rate will revert to the standard Easy Saver interest rate at that time. (Currently 0.50% AER/gross pa). If you make 6 or more withdrawals or your account goes above £50,000, during the 12 month period, the standard Easy Saver interest rate will apply from the date of your 6th withdrawal, or the date your account goes above £50,000, (whichever is the earlier).

Keeping your savings safe

Important information about compensation arrangements

We are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a bank is unable to meet its financial obligations. Most depositors - including most individuals and small businesses - are covered by the scheme.

In respect of deposits, an eligible depositor is entitled to claim up to £50,000. For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be £50,000 each (making a total of £100,000). The £50,000 limit relates to the combined amount in all the eligible depositor’s accounts with the bank, including their share of any joint account, and not to each separate account.

For further information about the scheme (including the amounts covered and eligibility to claim) please call us on 0500 40 50 60, refer to the FSCS website (www.FSCS.org.uk) or call 020 7892 7300 or 0800 678 1100.

Deposits with us are held with Sainsbury's Bank plc. Please note that accounts with Sainsbury's Bank include accounts in its trading name, Sainsbury's Finance. The £50,000 limit relates to the combined amount in all the eligible depositor's accounts with Sainsbury's Bank.

Double Nectar points conditions

*Double Nectar points conditions 1. Offer only available to new Easy Saver customers who open an account with a minimum of £5,000 from 6th October 2009. 2. The minimum balance of £5,000 must be achieved within 30 days of account opening and maintained for 2 years from the date on which this first happens to continue earning double points. 3. If the Easy Saver account is closed, double points will stop from the date of closure. 4. If the balance on the Easy Saver account drops below £5,000, double points will stop immediately and will not be re-instated, even if the balance returns above this level. 5. Only the first savings account registered against each Nectar account will qualify for double points. You may qualify for additional points by taking out other qualifying products. 6. Base points on qualifying spend in Sainsbury’s will be earned as normal. A bonus equal to the total of these points each calendar month (subject to a monthly maximum of 2,500 points) will be credited to the Nectar account by the 10th of the following month, for up to 24 months from the date on which the minimum balance is first achieved. Excludes points from Sainsbury’s Energy, Telecoms, Digital, Bank and all Bonus point offers. 7. The monthly bonus will only be calculated on, and credited to the Nectar card nominated at the time of application. The nominated card must also be used at the time of each Sainsbury’s purchase and points will not be allocated retrospectively. 8. The collection and use of Nectar points in the Nectar loyalty programme is governed by the Nectar Collector Rules set out in the registration pack and available at www.nectar. com 9. Sainsbury’s Bank reserves the right to alter, cancel or withdraw the offer without prior notice.

Enjoy the convenience of managing your account online

• Access and view your account online whenever you like
• View transactions online
• Transfer money via bank transfer
• Change your address
• Make payments to your Sainsbury’s Credit Card
• Order pay-in slips
• Keep up to date with interest rate changes

Need help?

You can find out more about registering for Sainsbury's Online Banking to access, view and manage your account online in our online support section.

You can also manage your account by phone

• Check or change account details
• Transfer money via bank transfer
• Manage your savings

Phone

0500 40 50 60** Lines are open: Monday to Friday, 8am – 10pm Saturday and Sunday, 8am – 8pm

Access your money at any time

• Transfer money to your nominated account, allowing up to four bank working days for your money to arrive
• Transfer money to your other Sainsbury's savings accounts registered with our online service

How to pay in

There are four easy ways to save:

• Bank transfer
To transfer your money from your current bank to your Easy Saver account you'll need your account sort code and account number. If you're registered with Sainsbury's Online Banking you can also find this information on your account summary when you log in.

• SaveBack
Add to your savings using your debit card while shopping at Sainsbury’s – it’s as easy as getting cashback.

• Set up a standing order
Top up your savings regularly on a date that suits you each month by setting up a standing order (PDF 70KB). 

• Post a cheque
If you are sending us cheques regularly please order a supply of pay in slips. These can be ordered via your online servicing.
 
Please write your sort code and account number on the back of the cheque and send your cheque, making it payable to yourself with a pay in slip to:
 
Sainsbury's Bank
PO Box 29191
Dunfermline
KY12 2AU

What cards do I get?

When you open an Easy Saver account, you will automatically receive a SaveBack card. With a SaveBack card you can save while you shop at Sainsbury’s.

Summary Box - Key product information for our Easy Saver savings account

Account name	Easy Saver
Interest rates (AERs)	Variable interest rate for 12 months - currently 2.50% AER. Open and deposit between £1 and £50,000 into an Easy Saver account to receive the variable rate. If your account goes above £50,000, or you make 6 or more withdrawals during the 12 month period, the standard Easy Saver interest rate will apply from the date your account goes above £50,000, or the date of your 6th withdrawal (whichever is earliest). At the end of the 12 month period the rate will revert to the standard Easy Saver interest rate at that time. Current standard Easy Saver variable interest rate 0.50% AER/gross pa.
Tax status	Interest is paid net of tax at the prevailing rate (currently 20%) To register for gross interest please call us on 0500 40 50 60*
Conditions for bonus payment	No bonus available on this account.
Withdrawal arrangements	Withdrawals are by electronic transfer to your nominated account only. Interest will revert to the standard Easy Saver interest rate if you make 6 or more withdrawals during the 12 month period
Access	Telephone and online

Easy Saver product information

Important information before you apply

To apply for an Easy Saver account you must be over 18 and a UK resident.

Apply quickly and easily

• Call freephone on 0500 40 50 60* or apply online
• You’ll need to provide some personal information
• You’ll then receive a username and access code to activate your account
• Use this information to log in to your account in future
• You’ll need to pay into your account within 30 days of opening it

Applying for a joint account
 
If you're applying for an account in joint names, you're declaring a financial association with the other applicant. You declare that you are entitled to disclose information about your joint applicant.
 
Your joint account will be known as "either to sign", which means we can accept instructions from either person named on the account. If, at a later date, you tell us you only want us to accept instructions from both of you (rather than either of you), we may close your account and, if we choose, offer each of you the opportunity to open a new account in just your name.
 
For further information on joint accounts visit: www.bba.org.uk 
    
You'll need the following information about your joint applicant

• Their full name
• Their date of birth
• Their address including post code and time at address
• Their nationality
• Their occupation

 
Joint account online registration

• You'll find instructions on how to do this in your welcome letter after you open your account

 
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.
  
Power of Attorney
 
You can also open and operate an Easy Saver account through the online Power of Attorney facility.
  
Interest payment information

• Interest can be paid monthly or annually. Monthly interest is paid on the last bank working day of the month.
  Interest on your Easy Saver account is variable and calculated daily.
• You'll receive an annual interest payment on the anniversary of your account opening.
• If you're a taxpayer, interest will be calculated net of basic rate tax – the gross tax amount will be posted to the account with a corresponding transaction for tax deducted.

 
Charges
 
The following charges will apply: £5 for a duplicate statement; £25 per CHAPS payment.
  
Register for gross interest
 
To register for gross interest please call us on 0500 40 50 60*.
 
You can obtain a copy of this form from the Inland Revenue website: www.inlandrevenue.gov.uk/forms/r85.pdf
 
or for large print forms:
www.inlandrevenue.gov.uk/forms/r85lp.pdf
Please remember to send this form with your application.
  
Please note: Until your account is fully active, any funds you deposit into it may not show up in your account balance.

A new way of saving

SaveBack from Sainsbury’s Finance is the first ever UK service to let customers save money when they pay at the checkout in Sainsbury's stores.

How can I SaveBack?

When you open an Easy Saver account, you’ll receive a SaveBack card, then:

• At the checkout ask to use SaveBack
• Tell the checkout operator how much you would like to save
• Give them your debit card and your SaveBack card
• You'll get a receipt confirming your deposit
• Your money will be credited to your account within 2 bank working days

Why use SaveBack?

• It's quick, convenient and secure
• It’s available whenever the store is open (except convenience stores)
• Your money will be credited to your account within two bank working days

Where can I use SaveBack?

SaveBack is available at selected stores, during opening hours. Use our store locator to find a store near you that has this service.

You can find more information about our Easy Saver account in our FAQs or email us for general enquiries.

Please note we have a new freephone number.
 
For any problems with your account, technical assistance and password resets, call freephone on 0500 40 50 60*.

Lines are open:

Monday to Friday  8am – 10pm Saturday and Sunday 8am – 8pm

If you're calling about your partner's account

To comply with our Data Protection Act, we can only discuss accounts or online registration with the account holder unless they have given you authority by registering a valid Power of Attorney Document with Sainsbury's Finance.

Double Nectar points conditions

1. Offer only available to new Easy Saver customers who open an account with a minimum of £5,000 from 6th October 2009. 2. The minimum balance of £5,000 must be achieved within 30 days of account opening and maintained for 2 years from the date on which this first happens to continue earning double points. 3. If the Easy Saver account is closed, double points will stop from the date of closure. 4. If the balance on the Easy Saver account drops below £5,000, double points will stop immediately and will not be re-instated, even if the balance returns above this level. 5. Only the first savings account registered against each Nectar account will qualify for double points. You may qualify for additional points by taking out other qualifying products. 6. Base points on qualifying spend in Sainsbury’s will be earned as normal. A bonus equal to the total of these points each calendar month (subject to a monthly maximum of 2,500 points) will be credited to the Nectar account by the 10th of the following month, for up to 24 months from the date on which the minimum balance is first achieved. Excludes points from Sainsbury’s Energy, Telecoms, Digital, Bank and all Bonus point offers. 7. The monthly bonus will only be calculated on, and credited to the Nectar card nominated at the time of application. The nominated card must also be used at the time of each Sainsbury’s purchase and points will not be allocated retrospectively. 8. The collection and use of Nectar points in the Nectar loyalty programme is governed by the Nectar Collector Rules set out in the registration pack and available at www.nectar. com 9. Sainsbury’s Bank reserves the right to alter, cancel or withdraw the offer without prior notice

Sainsbury's Easy Saver variable rate conditions

Easy Saver variable rate and conditions: This Easy Saver offer (rate and conditions) is only available for a limited period and may be withdrawn at any time. For qualifying Easy Saver accounts opened and funded during this offer period, this variable rate (currently 2.50% AER/gross pa), and conditions, will apply for 12 months from your account opening date. Your first deposit must be between £1 and £50,000. At the end of the 12 month period the rate will revert to the standard Easy Saver interest rate at that time. (Currently 0.50% AER/gross pa). If you make 6 or more withdrawals or your account goes above £50,000, during the 12 month period, the standard Easy Saver interest rate will apply from the date of your 6th withdrawal, or the date your account goes above £50,000, (whichever is the earlier).

Sainsbury's Easy Saver terms and conditions

Please read our terms and conditions (PDF 141KB) 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 dobe Reader.