Compare our savings accounts
Whether you're saving for something important, or just want to put some money away for a rainy day, we offer a wide range of savings accounts that could be suitable for you.
Our savings products are covered by the Financial Services Compensation Scheme.
|Interest Rate||1.30% AER / tax free p.a. (variable) on balances of £500+||0.85% - 1.15% AER/Gross p.a. variable on balances of £1,000 - £500,000||Up to 1.70% AER / Gross p.a.|
|Manage by Phone|
|Withdrawals||Unlimited*||Unlimited||None allowed until maturity|
|Interest paid||Annually||Annually||Monthly or Annually|
|Maximum deposit||£15,240 as per 2016/17 annual allowance||N/A||£200,000|
|Term||N/A||N/A||1 - 3 years|
Savings accounts are available from Sainsbury’s Bank to UK residents aged 18 years old or over. Sainsbury’s Bank reserves the right to alter rates at any time.
*If you have paid in your full allowance, any amount you withdraw cannot be replaced during the same tax year.
Gross interest is the interest rate paid with out the deduction of income tax. AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if paid and compounded once each year. Tax-free is the interest rate payable where interest is exempt from income tax.
The tax treatment of savings interest changed from 6 April 2016. Find out more.
SaveBack from Sainsbury’s Bank allows customers to deposit money when they pay for their shopping using a debit card in all the main Sainsbury’s stores. This feature is available on our Extra Saver account (account subject to availability). There’s no limit to the number of SaveBack deposits you can make. You can save up to £2,500 at the checkout and up to £9,000 with a supervisor. Not available at Sainsbury’s Local stores. SaveBack is available at all main Sainsbury’s stores during opening hours.