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Interest rates
Standard Internet Saver
Current interest rates
| Balance tiers | AER/gross p.a. | Net |
| £1 - £5,000 | 0.10% | 0.08% |
| £5,001 - £25,000 | 0.35% | 0.28% |
| £25,001 - £50,000 | 0.45% | 0.36% |
| £50,001 - £100,000 | 0.45% | 0.36% |
| £100,000+ | 0.45% | 0.36% |
Interest rates are effective from 1st November 2009.
Previous interest rates
| Date from | AER/gross p.a. | Net |
| 31/07/09 - 31/10/09 | 0.51% | 0.41% |
| 06/03/09 – 30/07/09 | 0.75% | 0.60% |
| 09/02/09 - 05/03/09 | 1.25% | 1.00% |
| 09/01/09 - 08/02/09 | 1.75% | 1.40% |
| 05/12/08 - 08/01/09 | 2.25% | 1.80% |
| 14/11/08 - 04/12/08 | 3.50% | 2.80% |
| 18/10/08 - 13/11/08 | 5.00% | 4.00% |
| 01/05/08 - 17/10/08 | 5.50% | 4.40% |
Limited offer product rates are detailed below and are subject to date and criteria restrictions. See terms and conditions (PDF 91KB) for full details.
Internet Saver special offer (account opened 21st November 2008 to 5th December 2008)
| Date from | AER/gross p.a. | Net |
| 06/03/09 - to date | 1.25% | 1.00% |
| 10/02/09 - 05/03/09 | 1.50% | 1.20% |
| 09/01/09 - 09/02/09 | 2.00% | 1.60% |
| 05/12/08 - 08/01/09 | 2.75% | 2.20% |
| 21/11/08 - 04/12/08 | 4.00% | 3.20% |
Internet Saver limited offer (account opened 27th February 2009 to 7th April 2009)
|
Date from |
AER/gross p.a. | Net |
| 01/06/09 - to date | 2.50% | 2.00% |
| 27/02/09 - 31/05/09 | 3.00% | 2.40% |
Internet Saver special offer (account opened 14th April 2009 to 8th June 2009)
| Date from | AER/gross p.a. | Net |
| 01/05/09 - to date | 2.60% | 2.08% |
| 14/04/09 - 30/04/09 | 2.00% | 1.60% |
Internet Saver special offer (account opened 9th June 2009 to 30th June 2009)
| Date from | AER/gross p.a. | Net |
| 09/06/09 - to date | 2.60% | 2.08% |
Internet Saver special offer (account opened 1st July 2009 to 30th July 2009)
| Date from | AER/gross p.a. | Net |
| 01/07/09 - to date | 2.80% | 2.24% |
Internet Saver special offer (account opened 31st July 2009 to 5th September 2009)
| Date from | AER/gross p.a. | Net |
| 31/07/09 - to date | 2.90% | 2.32% |
Register and activate your account
How to register and activate your account
If you're new to Sainsbury's Online Banking, you'll first have to register for the service. To register, you'll need:
- Your sort code and account number - you'll find these on the welcome letter we sent you after you opened your account.
- Some personal details, including your address.
- An online username of your choice - choose something memorable or write it down as you'll need it when you activate your account and every time you log in.
What happens next?
You'll receive a letter from us with your access code. Use your username and access code to activate your online account.
How to activate your account
- Go to sainsburysbank.co.uk/activate
- Enter your username (you chose this during the application process and it was verified in the confirmation email we sent you).
- Enter your access code (you'll find this on your welcome letter).
- You'll then be asked to set a password and to provide answers to security questions.
- Lastly, click on 'next' to complete the process and activate the online service.
How to pay in
How to pay in
There are three easy ways to save:
• Bank transfer
Transfer your money from your current bank to your Internet Saver account. You'll need your account sort code and account number, which can be found on your welcome letter. If you're registered with Sainsbury's Online Banking you can also find this information on your account summary when you log in.
• 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
We supply you with personalised pay-in slips. Simply, send your cheque, making it payable to yourself with a pay-in slip to:
Sainsbury's Bank
PO Box 29191
Dunfermline
KY12 2AU
Remember to include your sort code and account number on the reverse of the cheque.
Power of Attorney
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 Internet Saver 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 59 KB). 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 59KB). Then send it to the above address.
If you and your Donor both have an existing 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 the online helpdesk on 0500 40 50 60*. Lines are open 8am to 10pm Mon - Fri and 8am - 8pm Saturday & Sunday. Or if you prefer you can write to us at the above address.
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.
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 59KB) 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.
Managing your account online
Managing your account online
Once you've registered for Sainsbury's Online Banking and activated your account, you can log in to see your account and make changes. You can:
- View your statements online
- See your transactions for the past 90 days
- Transfer money to a nominated account
- Make payments to your Sainsbury's Credit Card
- Transfer funds between your Sainsbury's savings accounts
- Change your address online
- Check or change your account details
- Order pay-in slips
You'll find everything you need to know about viewing and accessing your account in the Sainsbury's Online Banking support section.
Or you can call our Online Helpdesk on on 0500 40 50 60*. Lines are open 8am to 10pm Mon - Fri and 8am - 8pm Saturday & Sunday. Here are some general points about managing your account:Payments being debited
When you've made a payment, it will be debited from your available balance and current balance as soon as the payment has been sent. Your available balance will not reduce until the payment leaves your account.
For payments made before 4pm on a bank working day your current balance and available balance will change one working day later. So if you've made a payment on Monday at 3pm, your current balance will change on Tuesday.Available balance
This is the balance in your account which is available for you to withdraw or make an immediate payment. It is the current balance minus the value of any cheques paid in which are still being cleared. This balance may change throughout the day as transactions are made.
Current balance
This balance may include cheques that have been paid in but are still being cleared. This balance may change throughout the day as transactions are made.
Payment beneficiaries
If you are making a payment to a non-Sainsbury's Finance savings account including payments to a Sainsbury's Finance Credit Card, the payment will take up to three full working days to reach the account.
If you are making a payment to another Sainsbury's Finance savings account the payment will take up to one full working day to reach the account.Trying to transfer funds but your account is unavailable?
Just select ‘Add an account' from your accounts summary screen. You will then be taken to the ‘Add products to accounts summary' screen where you can add your accounts online. These will be displayed the next time you view your accounts summary.
Account transfers
Inter Account Transfer payments made by 4pm may not update online straight away but will be completed the same working day. Inter Account Transfer payments made after 4pm will be processed by the next working day. You will be able to see transactions online the day after they have been processed. There will be no loss of interest during the transfer process.
Terms and conditions
Sainsbury's Internet Saver terms and conditions
Please read our terms and conditions (PDF 155KB) 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 with Adobe Acrobat. Get Adobe Reader.
Get in touch
Get in touch
You can find more information about our Internet Saver account in our FAQs, or email us for general enquiries.
If your query relates to your partner's account, 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 Finance.
| Please note we have a new freephone number for technical assistance and password resets |
0500 40 50 60* |