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Bonus Websaver - Savings Support

Current interest rates

Rates for accounts opened from 06/12/2023

Rates effective from 06/12/2023

Balance Standard rate Interest rate including bonus
(only applies during the first 12 months from account opening)
£1 – £500,000 3.50% AER*/Gross** 4.50% AER*/Gross**
£500,000 + 3.50% AER*/Gross** N/A

* 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. 

Previous interest rates

Rates for accounts opened from 04/09/2012 to 25/09/2012

Rates effective from 19/10/2023

Balance AER*/Gross** p.a
£1 – £4,999 1.30%
£5,000 – £500,000 1.30%
£500,001+ 1.30%


Rates effective from 21/06/2023 to 18/10/2023
Balance  AER*/Gross** p.a
£1 – £4,999 1.00%
£5,000 – £500,000 1.00%
£500,001+ 1.00%


Rates effective from 20/10/2022 to 20/06/2023
Balance  AER*/Gross** p.a
£1 – £4,999 0.40%
£5,000 – £500,000 0.40%
£500,001+ 0.40%
Rates effective from 11/05/2019 to 19/10/2022
Balance  AER*/Gross** p.a
£1 – £4,999 0.05%
£5,000 – £500,000 0.05%
£500,001+ 0.05%
Rates effective from 19/12/2017 to 10/05/2020
Balance  AER*/Gross** p.a
£1 – £4,999 0.35%
£5,000 – £500,000 0.35%
£500,001+ 0.35%


Rates effective from 06/04/2016 to 18/12/2017
Balance  AER*/Gross** p.a
£1 – £4,999 0.10%
£5,000 – £500,000 0.10%
£500,001+ 0.10%

Details of historic bonus and standard interest rates are available by calling us*.

* 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.

How do I make a payment into my account?

There are three ways to pay into your account:

  • Bank transfer − from an existing Sainsbury's Bank Savings Account or your main bank account. You'll need your sort code and account number. This is on your welcome letter, or your 'My accounts' summary page if you’re registered for Online Banking.
  • Standing order − top up your savings on a date that suits you each month. You can set this up by contacting your bank directly or by completing this standing order form and sending it to your bank. ​​​​​​
  • Cheque − write your sort code and account number on the back and send your cheque, payable to yourself, to: Sainsbury's Bank Savings, PO Box 4954, Worthing, BN11 9YY.

We can’t accept payments from overseas. You can transfer funds into your account from any UK bank or building society.

If you make a transfer from your account using CHAPS, there is a charge of £25 for each transfer up to a maximum of £50.

Manage your account online

Register for Sainsbury's Bank Online Banking to access your account anytime, anywhere. You can:

  • View your statements and transactions
  • Transfer money to a nominated account
  • Move money between your Sainsbury's Bank Savings Accounts
  • Change your address or account details
  • Change your account details
  • Change some personal details
  • Send and receive secure messages about your account

Need help?

Find out more about registering for and using Online Banking.

If you've forgotten your username, click on 'I have forgotten my username' on the 'Log in' page. You'll then need to fill in some personal details and your username will appear on the screen.

If you've forgotten your other log in details, click on 'I have forgotten my login details' on the 'Log in' page. You'll need to fill in some personal details and what you'd like your new log in details to be. We'll then verify this by sending you a one-time code to the mobile phone number we have on record for you, and ask you to use the code to verify your identity. You'll receive a confirmation email when this is complete.

If you're still having issues, give us a call. We're open Monday to Friday 8am-10pm and 8am-6pm at weekends. 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.

Frequently asked questions

What is the minimum age limit to open a Bonus Websaver?

18 years old.

Is there a maximum limit?

The maximum amount you can have in a Bonus Websaver is £2,000,000.

The maximum total amount you can have in all your Sainsbury's Bank Savings Accounts (whether in your name or held jointly) is £2,000,000. 

How is interest paid?

Interest is calculated daily and paid on the anniversary of 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.

Why is my interest paid gross**?

On 6 April 2016 the Government introduced a Personal Savings Allowance (PSA) which enables individuals to earn interest on their savings tax free, up to a certain allowance. The allowance depends on the individual’s income: basic rate tax payers are able earn up to £1,000 in savings interest tax free and higher rate tax payers will be able to earn £500 tax free. Additional rate tax payers will not have a Personal Savings Allowance. As a result of this change, from 6 April 2016 all banks, including Sainsbury’s Bank, will start paying savings interest gross**, with no tax deducted.

How do I make a payment into my account?

There are three ways to pay into your account:

  • Bank transfer
  • Standing order
  • Cheque

There’s more information about this in the 'How do I make a payment in to my account?' section.

In the first year, what happens to the bonus rate if my balance goes over £500,000 on my savings account?

If your balance goes over £500,000 then the standard variable rate will apply to the entire balance.

How do 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.

When you first set up a new payment mandate a check is done in the background to make sure the account is in your name. If we can’t confirm this, you’ll get a message telling you our validation check has failed, if this happens please try an alternative current account in your name. If you still want the payment to go to the account that’s failed then you’ll need to send us an original statement for that account along with what you’d like the payment reference to be. Once we have the information, we’ll set up your payment mandate and you’ll be able to make a payment within 2 working days.

To prevent any delays in getting money transferred to you when you need it in the future we suggest that you set up a payment mandate when you open the account.

Is there a limit on the number of withdrawals?

No. You can make as many withdrawals as you like.

How long will it take to transfer funds?

If you send money to your account by Faster Payments, it should arrive no later than the next business day. If you send money from your account before 5pm on a business day, the funds will arrive in the external account on the same day. If it's after 5pm, it will arrive on the next business day.

If you make a transfer to an external account by 5pm Monday to Friday it will be transferred by midnight on the same day. Transfer requests after this time will be made on the next business day.

Transfers between your own Sainsbury's Bank Savings Accounts normally arrive in your account straightaway.

What happens if I switch my current account which is also my nominated account?

If we’re notified by another bank that you’re using the Current Account Switch Service, we’ll write to you and ask you to call us to confirm that these instructions are correct. Once you’ve done that we’ll update your nominated account details on our Online Banking service.

Can I set up Direct Debits?

No, you can’t set up Direct Debits on this account. You can however make regular transfers to your nominated account using telephone or Online Banking.

How will you let me know about rate changes?

Whenever we change our rates we’ll:

  • Update our website and/or
  • write to you

Can I use this account to pay bills?

No. Payments for utility bills such as gas, electricity, council tax etc. aren’t permitted.

Are there any standard charges on the account?

There are no standard charges, but if you use any additional banking services you may be charged. We’ll always let you know if you request a service that carries a charge.

Can a Bonus Websaver be used for a business, club or association or a charity?

No, it’s only available for personal use.

Can I open a joint Bonus Websaver?

Yes. Both parties on the joint account will get individual passwords and security details for Online Banking.

Can I open an In Trust Account?

Yes, please call us and choose option 1. You can’t open an ‘In Trust’ account online.

Can I discuss my partner’s account?

No, to comply with the Data Protection Act, we can only discuss accounts with the account holder unless a valid Power of Attorney Document has been registered with Sainsbury's Bank.

How do I change my personal details?

If you’re registered for Online Banking you can change your personal details online. Just select what you want to change from the 'My details' tab. For security reasons, you can't change your mobile number online - it is important that you keep your mobile number up-to-date as you'll need it if you need to service your account. If you need to change your mobile number or if you're not registered for Online Banking, just give us a call

Can I request a copy of my statement?

You can access copies of your statements via Online Banking. If you need us to print a new statement for you, there may be a charge for this.

When will I receive a statement?

We'll send you a statement every year, shortly after the anniversary of your account opening.

How will I receive my statement?

Your statement will be available online. We'll send you an email or text to let you know when your statement is available, you can then log in to Online Banking to see it.

If you haven’t yet registered for Online Banking, you can do this on our website by clicking on ‘Log in / Register’.

Where we are unable to provide online statements, or if you have updated your correspondence preferences to request paper statements, we will send you a statement by post.

Can I change the way I receive my statement?

Yes, you can change your statement delivery preferences in Online Banking once you've logged in. Alternatively, you can call us and we can do this for you.

I need a statement in a special format, will you provide this?

Yes, if you need a statement in a special format, for example, large print or Braille, we can provide this for you.

Get in touch

If you need to speak to someone about your Bonus Websaver, want to switch to another Sainsbury's Bank product or close your account, please call us on 08085 40 50 60.

Terms and conditions

For accounts opened from 06/12/2023

For accounts opened from 04/09/2012 to 25/09/2012

For all accounts