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Savings accounts

Bag 500 Nectar points^ when you open any new Sainsbury's Bank Savings Account

Whether you're saving for a rainy day or holidays, a Sainbury's Bank Savings Account could be the answer. Choose from a fixed interest rate, easy access or a tax-free cash ISA depending on your needs, and you’ll bag 500 Nectar points^ when you open any new Sainsbury’s Bank Savings Account. You need to pay in at least £1,000 within 30 days of opening the account and keep it there for at least 30 days. If you open a fixed rate account, the minimum deposit is £5,000.

Why choose a Sainsbury’s Bank Savings Account?

  • You can apply for an account online in minutes
  • You can manage your account online 24/7 in online banking
  • You can transfer money into your account by bank transfer or by setting up a standing order to top up your savings on a date that suits you each month
  • All of our savings accounts are protected by the Financial Services Compensation Scheme (FSCS)
  • We offer a range of savings accounts to choose from – fixed interest rates, easy access and tax-free cash ISA’s
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Fixed Rate Saver

Know exactly what return you'll get on your money with our fixed interest rate account.

Interest rate

3.50% - 4.90% AER Gross p.a.

Term

1 - 5 years

Interest paid

Monthly or Annually

Deposits

Minimum deposit £5,000 Maximum deposit £1,000,000

Withdrawals

None allowed until maturity

Interest rate

3.50% - 4.90% AER Gross p.a.

Term

1 - 5 years

Interest paid

Monthly or Annually

Deposits

Minimum deposit £5,000 Maximum deposit £1,000,000

Withdrawals

None allowed until maturity

Fixed Rate Cash ISA

Know exactly what return you'll get on your money with our tax free fixed interest rate ISA.

Interest rate

3.50% - 4.70% AER / tax free p.a.

Term

1 - 5 years

Deposits

Minimum deposit £5,000 Maximum deposit £2,000,000

Interest paid

Annually

Withdrawals

Not allowed – Early closure only

Interest rate

3.50% - 4.70% AER / tax free p.a.

Term

1 - 5 years

Deposits

Minimum deposit £5,000 Maximum deposit £2,000,000

Interest paid

Annually

Withdrawals

Not allowed – Early closure only

Defined Access Saver - Issue 48

Earn an enhanced interest rate and access your money easily up to 3 times per year.

Interest rate

1.30 - 4.00% AER Gross p.a. (variable) on balances of £1 - £500,000

Deposits

Minimum deposit £1 Maximum deposit £2,000,000

Withdrawals

Up to 3 withdrawals each year from account opening. Interest rate will reduce if more withdrawals are made within that period.

Term

N/A

Interest paid

Annually

Interest rate

1.30 - 4.00% AER Gross p.a. (variable) on balances of £1 - £500,000

Deposits

Minimum deposit £1 Maximum deposit £2,000,000

Withdrawals

Up to 3 withdrawals each year from account opening. Interest rate will reduce if more withdrawals are made within that period.

Term

N/A

Interest paid

Annually

Variable Rate Cash ISA

Make the most of your £20,000 2023/2024 ISA allowance, and access your money when you need it

Interest rate

1.30 - 4.40% AER Tax free p.a. (variable) on balances of £500+

Deposits

Minimum deposit £1 Maximum deposit £2,000,000

Withdrawals

Unrestricted*

Term

N/A

Interest paid

Annually

Interest rate

1.30 - 4.40% AER Tax free p.a. (variable) on balances of £500+

Deposits

Minimum deposit £1 Maximum deposit £2,000,000

Withdrawals

Unrestricted*

Term

N/A

Interest paid

Annually

eSaver Special

Access your money quickly & conveniently at any time.

Interest rate

1.30 - 3.05% AER Gross p.a. (variable) on balances of £1+

Deposits

Minimum deposit £1 Maximum deposit £2,000,000

Withdrawals

Unrestricted

Term

N/A

Interest paid

Annually

Interest rate

1.30 - 3.05% AER Gross p.a. (variable) on balances of £1+

Deposits

Minimum deposit £1 Maximum deposit £2,000,000

Withdrawals

Unrestricted

Term

N/A

Interest paid

Annually

Extra Saver

Access your money quickly & conveniently at any time

Interest rate

1.30% AER Gross p.a. (variable) on balances of £1 - £500,000

Deposits

Minimum deposit £1 Maximum deposit £2,000,000

Withdrawals

Unrestricted

Term

N/A

Interest paid

Annually

Interest rate

1.30% AER Gross p.a. (variable) on balances of £1 - £500,000

Deposits

Minimum deposit £1 Maximum deposit £2,000,000

Withdrawals

Unrestricted

Term

N/A

Interest paid

Annually

FSCS ProtectedFinancial Services Compensation Scheme

All of our savings products are covered by the Financial Services Compensation Scheme (FSCS). For further information about the compensation provided by the FSCS visit www.fscs.org.uk opens in new window

Protecting your money - A guide from the FSCS [PDF, 1.71Mb] opens in new window

Terms and conditions

Important Information

The tax treatment or rate of interest payable depends on the individual circumstances of each customer and may be subject to change in the future.

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 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.

^500 Nectar points

1. This offer is only available when you open a new Sainsbury’s Bank Savings Account.

2. You’ll get 500 points if you pay in at least £1,000 within 30 days of opening the account and keep it there for at least 30 days.

3. Points will be added to your Nectar account within 90 days of your account open date.

4. If you’ve been offered a different number of points elsewhere, you’ll get whichever is the bigger number.

5. You need to add your Nectar card number to your application

6. This offer has been selected for you and can't be transferred to anyone else

7. Points from this offer will only be awarded once per Nectar account.

8. No cash alternative is available.

9. This offer is governed by English law and we reserve the right to change or cancel it without notice.