Fixed Rate Saver - Savings Support
Current interest rates
There are currently no offers available
Previous interest rates
Fixed Rate Saver - 1 year term
| For accounts opened | For balances between | Annual AER/ gross p.a. |
Monthly gross | Net p.a. |
| 01/05/13 to 10/05/13 | £5,000 - £50,000 | 1.90% | 1.90% | 1.52% |
| 01/03/13 to 15/03/13 | £5,000 - £50,000 | 2.00% | 2.00% | 1.60% |
| 01/02/13 to 08/02/13 | £5,000 - £50,000 | 2.20% | 2.20% | 1.76% |
| 08/01/13 to 24/01/13 | £5,000 - £50,000 | 2.05% | 2.05% | 1.64% |
| 01/10/12 to 10/10/12 | £5,000 - £50,000 | 3.00% | 3.00% | 2.40% |
| 30/08/12 to 05/09/12 | £5,000 - £50,000 | 3.26% | 3.26% | 2.60% |
| 28/07/12 to 24/08/12 | £5,000 - £50,000 | 3.26% | 3.26% | 2.60% |
| 12/07/12 to 27/07/12 | £5,000 - £50,000 | 3.40% | 3.40% | 2.72% |
| 27/06/12 to 11/07/12 | £5,000 - £50,000 | 3.21% | 3.21% | 2.56% |
| 01/06/12 to 19/06/12 | £5,000 - £50,000 | 3.15% | 3.15% | 2.52% |
| 21/05/12 to 31/05/12 | £5,000 - £50,000 | 3.20% | 3.20% | 2.56% |
| 26/03/12 to 19/04/12 | £5,000 - £50,000 | 3.30% | 3.30% | 2.64% |
| 27/10/11 to 02/12/11 | £5,000 - £50,000 | 3.40% | 3.40% | 2.72% |
| 15/06/11 to 28/06/11 | £5,000 - £50,000 | 3.35% | 3.35% | 2.68% |
| 23/05/11 to 14/06/11 | £5,000 - £50,000 | 3.40% | 3.40% | 2.72% |
| 12/04/11 to 22/05/11 | £5,000 - £50,000 | 3.35% | 3.35% | 2.68% |
| 22/03/11 to 11/04/11 | £5,000 - £50,000 | 3.25% | 3.25% | 2.60% |
| 03/03/11 to 21/03/11 | £5,000 - £50,000 | 3.00% | 3.00% | 2.40% |
| 21/01/11 to 02/02/11 | £5,000 - £50,000 | 3.20% | 3.20% | 2.56% |
| 07/10/10 to 20/01/11 | £5,000 - £50,000 | 3.00% | 3.00% | 2.40% |
| 01/10/10 to 17/10/10 | £5,000 - £50,000 | 3.00% | 3.00% | 2.40% |
| 01/09/10 to 30/09/10 | £5,000 - £50,000 | 2.80% | 2.80% | 2.24% |
Fixed Rate Saver - 2 year term
| For Accounts opened | For balances between | Annual AER/ gross p.a. |
Monthly gross | Net p.a. |
| 01/05/13 to 17/05/13 | £5,000 - £50,000 | 2.20% | 2.20% | 1.76% |
| 12/04/13 to 23/04/13 | £5,000 - £50,000 | 2.30% | 2.30% | 1.84% |
| 01/03/13 to 19/03/13 | £5,000 - £50,000 | 2.30% | 2.30% | 1.84% |
| 01/02/13 to 21/02/13 | £5,000 - £50,000 | 2.45% | 2.45% | 1.96% |
| 23/01/13 to 29/01/13 | £5,000 - £50,000 | 2.45% | 2.45% | 1.96% |
| 08/01/13 to 22/01/13 | £5,000 - £50,000 | 2.30% | 2.30% | 1.84% |
| 04/12/12 to 10/12/12 | £5,000 - £50,000 | 2.60% | 2.60% | 2.08% |
| 01/10/12 to 12/10/12 | £5,000 - £50,000 | 3.10% | 3.10% | 2.48% |
| 17/09/12 to 27/09/12 | £5,000 - £50,000 | 3.25% | 3.25% | 2.60% |
| 03/09/12 to 05/09/12 | £5,000 - £50,000 | 3.50% | 3.50% | 2.80% |
| 04/08/12 to 24/08/12 | £5,000 - £50,000 | 3.50% | 3.50% | 2.80% |
| 01/08/12 to 03/08/12 | £5,000 - £50,000 | 3.65% | 3.65% | 2.92% |
| 12/07/12 to 20/07/12 | £5,000 - £50,000 | 3.75% | 3.75% | 3.00% |
| 21/06/12 to 11/07/12 | £5,000 - £50,000 | 3.61% | 3.61% | 2.88% |
| 01/06/12 to 20/06/12 | £5,000 - £50,000 | 3.50% | 3.50% | 2.80% |
| 01/05/12 to 15/05/12 | £5,000 - £50,000 | 3.65% | 3.65% | 2.92% |
| 26/03/12 to 17/04/12 | £5,000 - £50,000 | 3.75% | 3.75% | 3.00% |
| 27/10/11 to 05/12/11 | £5,000 - £50,000 | 3.76% | 3.76% | 3.01% |
| 15/06/11 to 28/06/11 | £5,000 - £50,000 | 3.85% | 3.85% | 3.08% |
| 08/06/11 to 14/06/11 | £5,000 - £50,000 | 3.90% | 3.90% | 3.12% |
| 23/05/11 to 07/06/11 | £5,000 - £50,000 | 3.95% | 3.95% | 3.16% |
| 12/04/11 to 22/05/11 | £5,000 - £50,000 | 3.85% | 3.85% | 3.08% |
| 22/03/11 to 11/04/11 | £5,000 - £50,000 | 3.75% | 3.75% | 3.00% |
| 03/03/11 to 21/03/11 | £5,000 - £50,000 | 3.50% | 3.50% | 2.80% |
| 01/10/10 to 17/10/10 | £5,000 - £50,000 | 3.50% | 3.50% | 2.80% |
| 01/09/10 to 13/09/10 | £5,000 - £50,000 | 3.55% | 3.55% | 2.84% |
| 02/08/10 to 20/08/10 | £5,000 - £50,000 | 3.55% | 3.55% | 2.84% |
| 03/06/10 to 12/07/10 | £5,000 - £50,000 | 3.55% | 3.55% | 2.84% |
| 22/02/10 to 19/03/10 | £5,000 - £50,000 | 3.75% | 3.75% | 3.00% |
Fixed Rate Saver - 3 year term
| For accounts opened | For balances between | Annual AER/ gross p.a. |
Monthly gross | Net p.a. |
| 01/05/13 to 23/05/13 | £5,000 - £50,000 | 2.35% | 2.35% | 1.88% |
| 02/04/13 to 12/04/13 | £5,000 - £50,000 | 2.40% | 2.40% | 1.92% |
| 01/03/13 to 15/03/13 | £5,000 - £50,000 | 2.55% | 2.55% | 2.04% |
| 08/01/13 to 22/01/13 | £5,000 - £50,000 | 2.35% | 2.35% | 1.88% |
| 04/12/12 to 17/12/12 | £5,000 - £50,000 | 2.70% | 2.70% | 2.16% |
| 01/10/12 to 19/10/12 | £5,000 - £50,000 | 3.25% | 3.25% | 2.60% |
| 17/09/12 to 20/09/12 | £5,000 - £50,000 | 3.50% | 3.50% | 2.80% |
| 03/09/12 to 05/09/12 | £5,000 - £50,000 | 3.75% | 3.75% | 3.00% |
| 01/08/12 to 16/08/12 | £5,000 - £50,000 | 3.75% | 3.75% | 3.00% |
| 12/07/12 to 25/07/12 | £5,000 - £50,000 | 3.85% | 3.85% | 3.08% |
| 01/06/12 to 11/07/12 | £5,000 - £50,000 | 3.75% | 3.75% | 3.00% |
| 01/05/12 to 14/05/12 | £5,000 - £50,000 | 3.85% | 3.85% | 3.08% |
| 26/03/12 to 20/04/12 | £5,000 - £50,000 | 3.90% | 3.90% | 3.12% |
| 27/10/11 to 16/12/11 | £5,000 - £50,000 | 3.90% | 3.90% | 3.12% |
| 15/06/11 to 28/06/11 | £5,000 - £50,000 | 4.10% | 4.10% | 3.28% |
| 23/05/11 to 14/06/11 | £5,000 - £50,000 | 4.20% | 4.20% | 3.36% |
| 22/03/11 to 22/05/11 | £5,000 - £50,000 | 4.05% | 4.05% | 3.24% |
| 03/03/11 to 21/03/11 | £5,000 - £50,000 | 4.00% | 4.00% | 3.20% |
| 21/01/11 to 10/02/11 | £5,000 - £50,000 | 4.00% | 4.00% | 3.20% |
| 01/10/10 to 17/10/10 | £5,000 - £50,000 | 4.00% | 4.00% | 3.20% |
Fixed Rate Saver - 4 year term
| For accounts opened | For balances between | Annual AER/ gross p.a. |
Monthly gross | Net p.a. |
| 02/04/13 to 01/05/13 | £5,000 - £50,000 | 2.45% | 2.45% | 1.96% |
| 01/03/13 to 15/03/13 | £5,000 - £50,000 | 2.70% | 2.70% | 2.16% |
| 01/02/13 to 28/02/13 | £5,000 - £50,000 | 2.60% | 2.60% | 2.08% |
| 01/02/13 to 28/02/13 | £5,000 - £50,000 | 2.60% | 2.60% | 2.08% |
| 08/01/13 to 22/01/13 | £5,000 - £50,000 | 2.40% | 2.40% | 1.92% |
| 01/11/12 to 21/11/12 | £5,000 - £50,000 | 3.00% | 3.00% | 2.40% |
| 01/10/12 to 19/10/12 | £5,000 - £50,000 | 3.35% | 3.35% | 2.65% |
| 03/09/12 to 05/09/12 | £5,000 - £50,000 | 3.90% | 3.90% | 3.12% |
Fixed Rate Saver - 5 year term
| For accounts opened | For balances between | Annual AER/ gross p.a. |
Monthly gross | Net p.a. |
| 02/04/13 to 01/05/13 | £5,000 - £50,000 | 2.50% | 2.50% | 2.00% |
| 01/03/13 to 14/03/13 | £5,000 - £50,000 | 2.75% | 2.75% | 2.20% |
| 01/02/13 to 28/02/13 | £5,000 - £50,000 | 2.65% | 2.65% | 2.12% |
| 08/01/13 to 22/01/13 | £5,000 - £50,000 | 2.45% | 2.45% | 1.96% |
| 01/11/12 to 14/11/12 | £5,000 - £50,000 | 3.20% | 3.20% | 2.56% |
| 01/10/12 to 15/10/12 | £5,000 - £50,000 | 3.50% | 3.50% | 2.80% |
| 03/09/12 to 05/09/12 | £5,000 - £50,000 | 4.00% | 4.00% | 3.20% |
*AER stands for annual equivalent rate and illustrates what the interest would be if interest was paid and compounded each year. Interest on this account is paid directly into your nominated account and therefore not compounded. Gross rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law (currently 20%). Net is the rate of interest paid after the deduction of basic rate tax at 20%.
Interest is calculated daily and paid monthly/annually depending on your choice of options.
Rollover interest rates
If your fixed rate offer is due to mature within the next 30 days and you have not given us your maturity instructions, please call us on 0500 40 50 60 for confirmation of available offers and guaranteed roll over rates at your maturity date. Offers may be available for a limited period and withdrawn at any time.
If you have already matured and rolled into a new one, details of your interest rate will be found on your rollover letter. Alternatively you can log in to your account or contact us on 0500 40 50 60 to find out your new rate.
Next steps
Once you've successfully applied for a Fixed Rate Saver, there are just two simple steps you need to complete to fully open your account:
- Verify your identity (PDF 83KB)
- Make a payment to your Fixed Rate Saver (Remember you can make only one deposit to your Fixed Rate Saver)
Verifying your identity
To comply with Money Laundering regulations, we need to verify your identity. This means we will, in the first instance, attempt to electronically confirm your name and address. If we can't do this, we'll ask you to send us specific documents.
Due to legislation, we are unable to accept National ID Cards to verify your identity. We are sorry for any inconvenience this may cause.
Making a payment to your account
To keep your account open you'll need to make a payment to it within 30 days. There are four easy ways to do this.
- By bank transfer from your existing Sainsbury's Bank savings account
- By cheque, make sure the cheque is payable to yourself, write your sort code and account number on the back of the cheque and send to:
Sainsbury's Bank
PO Box 29191
Dunfermline
KY12 2AU
What happens on maturity?
We will write to let you know that your Fixed Rate Saver is maturing, you'll then be given the choice to:
- Re-invest into another Fixed Rate Saver (if one is available at that time)
- Transfer your funds into your nominated account or to another Sainsbury's Bank savings account
- Transfer some of your maturing Fixed Rate Saver into your nominated account and some to a new Fixed Rate Saver (if one is available)
- Transfer some of your maturing Fixed Rate Saver into your nominated account and some to another Sainsbury's Bank savings account
Qualifying Time Deposits (QTD)
A QTD is a fixed term deposit of at least £50,000, made in a single transaction for a period of less than 5 years which requires to be repaid at a specified time Interest on a QTD is paid gross.
From the 6th April 2012 HM Revenue and Customs regulations state that Qualifying Time Deposits status will change for any new accounts or maturing accounts that rollover into a new offer. Interest will be paid net.
How to pay in
There are four easy ways to save:
• Bank transfer
To transfer your money from your current bank account to your Fixed Rate 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.
• Post a cheque
Please write your sort code and account number on the back of the cheque and send your cheque, making it payable to yourself to:
Sainsbury's Bank
PO Box 29191
Dunfermline
KY12 2AU
• Transfer funds direct from your existing Sainsbury's Bank savings account
Remember you can only make one deposit to your chosen Fixed Rate Saver and you must fund your account within 30 days of opening it.
How is interest paid?
Interest is paid either annually or monthly directly to your nominated account.
Please note, at maturity your interest payment will be received 1 day later than your initial funds. The interest payment has been increased to reflect this.
Managing your account online
You can check your balance and interest payments online if you are registered with our Online Banking service.
Need help?
You can find out more about registering for our Online Banking Service to access, view and manage your account online in our online support section.
Managing your account by phone
- Check or change your account details
If you've any queries, we can help. Please call us.
| Phone our team: | 0500 40 50 60* |
| Lines are open: | Monday-Friday 8am-10pm Saturday and Sunday 8am-6pm |
Charges
The following charges will apply: £25 per CHAPS payment.
Power of Attorney
To manage an account on someone else's behalf, you will need to apply for Power of Attorney authorisation.
What you need to use the online facility
You will need a Power of Attorney document which gives you, the attorney, full authority to manage the financial affairs of another person - your Donor - now and in the future. If the Power of Attorney document only allows you to deal with specific accounts on behalf of your Donor, or for a particular period of time, you won't be able to use the Power of Attorney online facility.
How to register for the online facility
If your Donor does not have any existing accounts and you want to open a new savings account on their behalf and manage it using the online Power of Attorney facility, you will need to complete the Power of Attorney and Sainsbury's Online Banking Application (PDF 74KB). Then send it along with your original Power of Attorney document or a certified copy, plus any anti-money laundering documentation as specified on the application form to:
Sainsbury's Savings
PO Box 29191
Dunfermline
KY12 2AU
Already hold a Power of Attorney for an existing savings account?
You don't need to send your Power of Attorney document again as we'll already have the details. Simply complete the Power of Attorney and Sainsbury's Online Banking Application (PDF 74 KB). Then send it to the above address.
If you and your Donor both have an existing Sainsbury's Bank savings account we will not require any anti-money laundering documentation from either of you.
Already registered online?
You will still need to register with a separate username and password to be able to manage your Donor's accounts online.
Need to cancel the online facility?
To cancel your Power of Attorney online facility or to let us know that your Power of Attorney has been revoked, please contact us on 0500 40 50 60*. Lines are open 8am to 10pm Mon - Fri and 8am to 6pm Saturday & Sunday.
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 Bank.
Power of Attorney and Sainsbury's Online Banking Application
You can download and print your Power of Attorney and Sainsbury's Online Banking Application (PDF 58KB) with Adobe Acrobat. Get Adobe Reader.
Please note: This document will open in a new browser window and may take some time to download depending on your internet connection.
Frequently Asked Questions
What is the minimum age limit to open a Fixed Rate Saver?
18 years old.
Is there a minimum limit?
The minimum amount you can invest with our Fixed Rate Saver accounts is £5,000.
Is there a maximum limit?
The maximum amount you can invest with our Fixed Rate Saver is £50,000.
How is interest paid?
Interest is calculated daily and paid monthly to your nominated account either on the monthly anniversary of the account opening (if this date falls on a weekend, the next business day) or annually on the anniversary of when the account was opened.
Interest will only be paid gross (this means without deduction of income tax, currently 20%), if you are registered with us as a non- taxpayer. A separate registration is required for each Fixed Rate Saver which you hold.
If you're a taxpayer, interest will be calculated net of income tax - the gross interest will be posted to the account together with a corresponding amount for the income tax deducted (currently 20%).
How do I make a payment into my account?
You are unable to make any additional deposits after your first deposit. Your first deposit may be by cheque or a transfer from an existing Sainsbury's Bank account.
How do I withdraw money?
Unfortunately you cannot withdraw or close your account prior to maturity.
How long will it take to transfer funds?
Payments processed through the Faster Payments scheme and deposits made using SaveBack should arrive in your account no later than the next bank working day. Transfers between Sainsbury's Bank accounts are normally treated as arriving in your account straightaway, except when they are made after 8pm or on a non bank working day. Payments made to external beneficiary accounts will be received by midnight on same day the payment is instructed, provided instruction is made by 5pm. Transactions instructed after these times will be treated as next business day.
What happens at maturity?
We will write to let you know that your Fixed Rate Saver is maturing, you'll then be given the choice to:
- Re-invest into another Fixed Rate Saver (if one is available at that time)
- Transfer your funds into your nominated account or to another Sainsbury's Bank savings account
- Transfer some of your maturing Fixed Rate Saver into your nominated account and some to a new Fixed Rate Saver (if one is available)
- Transfer some of your maturing Fixed Rate Saver into your nominated account and some to another Sainsbury's Bank savings account
If we do not hear from you we will automatically transfer your maturing Fixed Rate Saver in a Sainsbury's Bank Reserve Account (currently 0.50% AER variable).
What is a Qualifying Time Deposit (QTD) status
A QTD is a fixed term deposit of at least £50,000, made in a single transaction for a period of less than 5 years which requires to be repaid at a specified time Interest on a QTD is paid gross.
From the 6th April 2012 HM Revenue and Customs regulations state that Qualifying Time Deposits status will change for any new accounts or maturing accounts that rollover into a new offer. Interest will be paid net.
Can I set up direct debits?
No
Can I use this account to pay bills?
No.
Are there any standard charges on the account?
There are no standard charges. If you require an additional banking service there may be a charge, which we will tell you about at the time.
The following charges will apply: £5 per duplicate statement (max £50 charge); £25 per CHAPS payment.
Can Fixed Rate Saver be used for a business, club or association or a charity?
No, the account is only available for personal use.
Can I open a joint Fixed Rate Saver?
Yes.
Can I discuss my partner’s account?
To comply with the Data Protection Act, we can only discuss accounts or online registration with the account holder unless a valid Power of Attorney Document has been registered with Sainsbury's Bank.
How can I register for gross interest?
Find out how to register for gross interest.
What option should I choose for marital status in the application if I'm a civil partner?
You can select a marital status of either single or married depending on your preference.
How can I advise Sainsbury's Bank of a change to my address?
You can change your address online if you are registered for our Online Banking Service. Alternatively, you can call us on 0500 40 50 60*, Monday to Friday, 8am – 10pm, Saturday and Sunday 8am – 6pm.
What browsers does this website support?
The standard support browser versions are:
- Internet Explorer v7.0
- Firefox v3.0
We would recommend that you upgrade your Internet Browser to a version as outlined on our operating system & browser compatibility page.
Terms and conditions
Please read our terms and conditions (PDF 99KB) and privacy statement.
You can download and print the terms and conditions document with Adobe Acrobat - Get Adobe Reader
Get in touch
You can find more information about our Fixed Rate Saver account in our FAQs, or email us for general enquiries.
To comply with the Data Protection Act, we can only discuss accounts or online registration with the account holder unless you've registered a valid Power of Attorney (PDF 73KB) document with Sainsbury's Bank.
Contact us by phone:
| Existing account enquiries: | 0500 40 50 60* |
| strong>Lines are open: | Monday-Friday 8am-10pm Saturday and Sunday 8am-6pm |
Our automated telephone service is available 24 hours a day, seven days a week.
| Existing account enquiries: (calling from outside the UK) |
0044 1383 847 008* |
| Lines are open: | Monday-Friday 8am-10pm Saturday and Sunday 8am-6pm |
Or you can write to us:
Sainsbury's Bank
PO Box 29191
Dunfermline
KY12 2AU
Please note if you write to us, we can only respond to written requests for general enquiries. If you have an account specific enquiry please call us on the above telephone number.
