Terms and conditions
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.