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.
We are covered by the Financial Services Compensation Scheme.
|Interest Rate (AER)||1.10% - 1.20% AER / gross p.a. (variable) on balances of £1 - £100,000||1.35% AER / tax free p.a. (variable) on balances of £500+||Up to 1.90% AER / gross p.a.|
|Manage by Phone|
|Withdrawals||Unlimited||Unlimited*||None allowed until maturity|
|Interest paid||Annually||Annually||Monthly or Annually|
|Maximum deposit||£100,000||£15,240 as per 2015/16 annual allowance||£50,000|
|Term||N/A||N/A||1 - 3 years|
Financial Services Compensation Scheme
Your eligible deposits held with Sainsbury's Bank plc are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit protection scheme. For joint accounts held by 2 people you are protected up to £170,000 (£85,000 per person).
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.
*Regardless of how many withdrawals you make from your Cash ISA, you will only ever be able to deposit up to your annual Cash ISA allowance limit.
Gross is the interest rate paid before income tax is deducted. 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.
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.