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Internet Saver - Savings Support

This account is no longer available

View our current range of accounts.

Current interest rates

Rates for accounts opened from 01/11/2009

Rates effective from 19/10/2023

Balance tiers AER*/Gross** Annual
£1 - £5,000 1.30%
£5,001 - £25,000 1.30%
£25,001 + 1.30%


*AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if paid and compounded once each year. 

**Gross is the rate of interest payable before any income tax is deducted.

Previous rates

Rates for accounts opened from 01/11/2009

Rates effective from 21/06/2023 to 18/10/2023

Balance tiers AER*/Gross** Annual
£1 - £5,000 1.00%
£5,001 - £25,000 1.00%
£25,001 + 1.00%


Rates effective from 20/10/2022 to 20/06/2023

Balance tiers AER*/Gross** Annual
£1 - £5,000 0.40%
£5,001 - £25,000 0.40%
£25,001 + 0.40%
Rates for accounts opened from 01/11/2009

Rates effective from 11/05/2020 to 19/10/2022

Balance tiers AER*/Gross** Annual
£1 - £5,000 0.05%
£5,001 - £25,000 0.05%
£25,001 + 0.05%


Rates effective from 19/12/2017 to 10/05/2020

Balance tiers AER*/Gross** Annual
£1 - £5,000 0.35%
£5,001 - £25,000 0.45%
£25,001 + 0.50%


Rates effective from 01/02/2017 to 18/12/2017

Balance tiers AER*/Gross** Annual
£1 - £5,000 0.10%
£5,001 - £25,000 0.20%
£25,001 + 0.50%


Balance tiers Annual AER/gross p.a. £1 - £5,000 0.10% £5,001 - £25,000 0.20% £25,001 + 0.50%

*AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if paid and compounded once each year. 

**Gross is the rate of interest payable before any income tax is deducted.

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. Set up a standing order (PDF 70KB).
  • Cheque − write your sort code and account number on the back and send your cheque, payable to yourself, to: Sainsbury's Bank 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.

Manage your account online

Register for online banking to access your account anytime, anywhere. You can::

  • View your statements and transactions
  • Transfer money to a nominated account
  • Make payments to your Sainsbury's Bank Credit Card
  • Move money between your Sainsbury's Bank savings accounts
  • 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.


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

Frequently Asked Questions

Is there a maximum limit?

The maximum amount you can have in an Internet Saver Account is £2,000,000

The maximum total amount you can have in all your accounts (whether in your name or held jointly) is £2,000,000. 

How is interest paid?

We calculate interest daily and credit it to your account annually on the anniversary of account opening or monthly on the last business day of the month.

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 easy ways to pay into your account:

  • Bank transfer
  • Standing order
  • Cheque

There’s more information about this in ‘How to pay in’.

How do I withdraw money?

You can only send money to a current account in your name, you can’t make payments to a third party. 

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 operate 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
  • Or write to you
Can I use this account to pay bills?

No. Payments for 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 an Online Saver account be used for a business, club or association or a charity?

No, it’s only available for personal use.

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 need it if you need 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. We’re open Monday to Friday 8am–10pm and 8am–6pm at weekends.

Can I manage an account on someone else's behalf?

Yes, you will need to apply for Power of Attorney authorisation.

More on Power of Attorney

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 provide you with monthly statements.

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, then you can 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?

If you need a statement in a special format, for example, large print or Braille, we'll be able to provide this for you.

Terms and conditions