Skip to content

Bonus Websaver – apply

Your online application should only take 10 minutes to complete but there are some important things to know before you start.

Please ensure you click on the product information summary dropdown below for important information about this product.

Product information summary

Account name

Bonus Websaver

What are the interest rates?

The interest rate (AER*) is payable as follows:

  • Interest rate without bonus (i.e. the standard variable rate): 2.00% Gross**/AER* (variable) 
  • Interest rate with bonus (includes a fixed bonus of 2.00% Gross**/AER* for 12 months): 4.00% Gross**/AER* (variable) 

The bonus interest rate only applies during the first 12 months from account opening and for total balances of up to £500,000 as shown in the table below. If your balance goes over £500,000 then the standard variable rate of 2.00% Gross**/AER* will apply to the entire balance: 

Balance tier Standard rate Interest rate including bonus 
(only applies during the first 12 months from account opening)
£1 – £500,000 2.00% AER* (variable) 4.00% AER* (variable)
£500,001 + 2.00% AER* (variable) N/A

Interest is calculated daily and paid on the anniversary of the account opening. The interest rate applied to the account on any day depends on the amount of the total balance held on that day and that rate will apply to the entire balance.

Once the 12 month bonus period expires, the interest rate applied to the account will be the standard variable rate of 2.00% Gross**/AER*. You can check the interest rate applicable to the account at any time by visiting and logging in to Online Banking. 

Can Sainsbury's Bank change the interest rate?

The standard interest rate is a variable interest rate which means we may increase or decrease interest rates at any time. This could be to reflect changes in the Bank of England bank rate or the rates of interest paid by other firms providing similar products. We will contact you to tell you if and when your standard interest rate changes. For further information on how and when please refer to condition 7 of our General Terms and Conditions and conditions 2.3 and 2.4 of our Bonus Websaver Terms and Conditions

The bonus interest rate is fixed and only applies during the first 12 months from account opening and for total balances of up to £500,000. We will write to you at least 14 days in advance to remind you that your bonus period is coming to an end and that, when it ends, the interest rate will revert to the standard variable rate.

What would the estimated balance on the account be after 12 months?

The table below shows what your estimated balance would be after 12 months. This is based on the interest rates and deposits listed below.

Deposit Interest rate Projected balance after 12 months
£1,000 4.00% £1,040.00
£25,000 4.00% £26,000.00
£510,000 2.00% £520,200.00

If you were to keep your money in this account for a further year after the expiry of the bonus period your projected balance could be:

Deposit Interest rate Projected balance after 24 months
£1,000 2.00% £1,060.80
£25,000 2.00% £26,520.00
£510,000 2.00% £530,604.00

These examples are based on one lump sum deposit being made at account opening, with no further deposits or withdrawals made. 

Examples are provided as an illustration only and do not take into account individual customers’ circumstances. 

How do I open and manage my account?

You can open and manage your Bonus Websaver online at or by calling us on 08085 40 50 60. You can get in touch about your account when needed by telephone or through our Online Banking.

  • You must be aged 18 or over and be a UK resident to open a Sainsbury's Bank Savings Account
  • The minimum amount you can deposit in the account is £1
  • The maximum amount that can be held in the account is £2,000,000
  • You must invest a minimum of £1 within 60 days of account opening to make sure that your account remains open and that you benefit from the advertised rate of interest
  • You do not have to deposit any further minimum amount at any time following the initial deposit

Can I withdraw money?

You can only transfer money from your Bonus Websaver to another account held in your name with a bank or building society which is part of the UK clearing system. 

Withdrawals can be made by electronic transfer using Sainsbury's Bank Online Banking or by calling 08085 40 50 60.

Additional information

If you want to switch to another Sainsbury's Bank product or close your account, please call us on 08085 40 50 60 or log in to Online Banking.

Interest is paid gross**. You may need to pay tax on any interest that goes over the personal savings allowance. Please contact HMRC if you need more information.

* AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if the interest was paid and compounded once each year.
** Gross interest is the interest rate paid without the deduction of income tax.

What you'll need

Please have the following details to hand before you start your application:

  • your addresses and postcodes for the last 3 years; and

  • your National Insurance number and/or Tax Identification Number(s) (for non-UK tax residents).

Further assistance

We want to provide you with the right level of support throughout the application process. If there is anything that could affect your ability to understand the application you are making today, please call us. We'll be able to discuss your needs and offer suitable support.

If required you can ask for your correspondence in another format eg. Braille / Audio. Just contact us after you’ve completed your application and we can do this for you.

Lines are open Mon-Fri 8am-8pm and Sat-Sun 8am-6pm. Telephone calls may be recorded for security purposes and monitored under our quality control procedures. Calls are free from a landline and from a mobile when calling from the UK.

Please select the box if you wish to continue

If you require support, please contact us.

Are you registered for online banking?

Is this a single or joint application?

 For joint account applications, you should know that:

  • All applicants must be present to verify their identity.
  • It's the responsibility of all account holders to maintain the account - but each of you can operate the account individually.
  • Submitting this application means you're confirming that you’re applying to open this savings account on behalf of all of you and you have the joint applicants' authority to apply on their behalf
Enter a valid Nectar number
Log in and apply