Cash ISA - Savings Support

Rates for accounts opened from 27/10/2016

Balance tiers Annual AER/gross p.a.
£1 - £499 0.50%
£500 + 0.95%

Rates for accounts opened from 08/09/2016 to 26/10/2016

Balance tiers Annual AER/gross p.a.
£1 - £499 0.50%
£500 + 1.00%

Rates for accounts opened from 11/08/2016 to 07/09/2016

Balance tiers Annual AER/gross p.a.
£1 - £499 0.50%
£500 + 1.05%

Rates for accounts opened from 08/06/2016 to 10/08/2016

Balance tiers Annual AER/gross p.a.
£1 - £499 0.50%
£500 + 1.20%

Rates for accounts opened from 18/12/2015 to 07/06/2016

Balance tiers Annual AER/gross p.a.
£1 - £499 0.50%
£500 + 1.30%

Rates for accounts opened from 16/10/2015 to 17/12/2015

Balance tiers Annual AER/gross p.a.
£1 - £499 0.50%
£500 + 1.40%

Rates for accounts opened from 25/06/2015 to 15/10/2015

Balance tiers Annual AER/gross p.a.
£1 - £499 0.50%
£500 + 1.30%

Rates for accounts opened from 22/05/2015 to 24/06/2015

Balance tiers Annual AER/gross p.a.
£1 - £499 0.50%
£500 + 1.40%

Rates for accounts opened from 06/02/2015 to 21/05/2015

Balance tiers Annual AER/gross p.a.
£1 - £499 0.50%
£500 + 1.35%

Rates for accounts opened from 30/06/2014 to 05/02/2015

Balance tiers Annual AER/gross p.a.
£1 - £499 0.50%
£500 + 1.45%

Rates for accounts opened from 13/06/2014 to 29/06/2014

Rates effective from 30/06/2014

Balance tiers Annual AER/gross p.a.
£1 - £499 0.50%
£500 + 1.45%

Rates for accounts opened from 08/01/2014 to 12/06/2014

Rates effective from 08/01/2014

Balance tiers Annual AER/gross p.a.
£1 - £499 0.50%
£500 + 1.30%

Rates for accounts opened from 04/09/2013 to 07/01/2014

Rates effective from 04/09/2013

Balance tiers Annual AER/gross p.a.
£1 - £499 0.50%
£500 + 1.00%

Rates for accounts opened from 01/05/2013 to 03/09/2013

Rates effective from 01/05/2013

Balance tiers Annual AER/gross p.a.
£1 - £499 0.50%
£500 + 1.50%

Rates for accounts opened from 01/12/2010 to 30/04/2013

Rates effective from 03/09/2013

Balance tiers Annual AER/gross p.a.
£1 - £499 0.50%
£500 + 1.00%

Rates for accounts opened from 09/08/2010 to 30/11/2010

Rates effective from 09/08/2010

Balance tiers Annual AER/gross p.a.
£1 + 0.50%

Rates for accounts opened from 06/04/2010 to 08/08/2010

Rates effective from 03/09/2013

Balance tiers Annual AER/gross p.a.
£1 - £499 0.50%
£500 + 1.00%
AER stands for annual equivalent rate and illustrates what the interest would be if interest was paid and compounded each year. Variable interest paid tax free, annually. Interest is calculated daily and paid on the anniversary of account opening.

Rates for accounts opened from 13/06/2014 to 29/06/14

Rates effective from 13/06/2014 to 29/06/14

Balance tiers Annual AER/gross p.a.
£1 - £499 0.50%
£500 + 1.35%

Rates for accounts opened from 15/04/2013 to 30/04/2013

Rates effective from 15/04/2013 to 02/09/2013

Balance tiers Annual AER/gross p.a.
£1 - £499 0.50%
£500 + 1.50%

Rates for accounts opened from 01/02/2013 to 05/04/2013

Rates effective from 01/02/2013 to 02/09/2013

Balance tiers Annual AER/gross p.a.
£1 - £499 0.50%
£500 + 1.60%

Rates for accounts opened from 01/11/2012 to 31/01/2013

Rates effective from 01/11/2012 to 02/09/2013

Balance tiers Annual AER/gross p.a.
£1 - £499 0.50%
£500 + 2.00%

Rates for accounts opened from 03/10/2012 to 31/10/2012

Rates effective from 22/03/2013 to 02/09/2013

Balance tiers Annual AER/gross p.a.
£1 - £499 0.50%
£500 + 2.00%

Rates effective from 03/10/2012 to 21/03/2013

Balance tiers Annual AER/gross p.a.
£1 - £499 0.50%
£500 + 2.80%

Rates for accounts opened from 17/09/2012 to 02/10/2012

Rates effective from 15/03/2013 to 02/09/2013

Balance tiers Annual AER/gross p.a.
£1 - £499 0.50%
£500 + 2.00%

Rates effective from 03/10/2012 to 14/03/2013

Balance tiers Annual AER/gross p.a.
£1 - £499 0.50%
£500 + 3.01%

Rates for accounts opened from 24/12/2011 to 16/09/2012

Rates effective from 22/03/2012 to 02/09/2012

Balance tiers Annual AER/gross p.a.
£1 - £499 0.50%
£500 + 2.00%

Rates effective from 24/12/2011 to 21/03/2012

Balance tiers Annual AER/gross p.a.
£1 - £499 0.50%
£500 + 2.80%

Rates for accounts opened from 01/12/2011 to 23/12/2011

Rates effective from 22/03/2012 to 02/09/2013

Balance tiers Annual AER/gross p.a.
£1 - £499 0.50%
£500 + 2.00%

Rates effective from 24/12/2011 to 21/03/2013

Balance tiers Annual AER/gross p.a.
£1 - £499 0.50%
£500 + 2.80%

Rates effective from 01/12/2011 to 23/12/2011

Balance tiers Annual AER/gross p.a.
£1 - £499 0.50%
£500 + 2.50%

Rates for accounts opened from 01/12/2010 to 30/11/2011

From 01/12/2011 the special offer conditions were removed for all eligible accounts. (See Terms & Conditions for full details).

Rates effective from 22/03/2012 to 02/09/2013

Balance tiers Annual AER/gross p.a.
£1 - £499 0.50%
£500 + 2.00%

Rates effective from 01/12/2010 to 21/03/2013

Balance tiers Annual AER/gross p.a.
£1 - £499 0.50%
£500 + 2.50%

Rates for accounts opened from 01/11/2010 to 30/11/2010

 Rates effective from 22/03/2012 to 02/09/2013  

Balance tiers Annual AER/gross p.a.
£1 - £499 0.50%
£500 + 2.00%
Variable Rate Individual Savings Account (Variable Rate ISA) Special Offer rate conditions (6th April 2011):This Variable Rate ISA offer is only available for a limited period and may be withdrawn at any time. For qualifying Variable Rate ISA accounts opened during this offer period, this variable rate (currently 2.50% AER/gross p.a) and conditions, will apply for 12 months from your account opening date. Your first deposit must be a minimum of £500 and the maximum deposit must not exceed the annual Cash ISA limit, currently £5,340. Transfers in from other providers are also allowed. At the end of the 12 month period or if your account balance falls below £500, the rate will revert to the standard Variable Rate ISA interest rate at that time (currently 0.50% AER/gross p.a.).

Rates effective from 06/04/2010 to 21/03/2013

Balance tiers Annual AER/gross p.a.
£1 - £499 0.50%
£500 + 2.50%

For accounts opened between 1st November 2010 and 5th April 2011 the special condition also applies:

Variable Rate Individual Savings Account (Variable Rate ISA) Special Offer rate conditions (1st November 2010 to 5th April 2011): This Variable Rate ISA offer is only available for a limited period and may be withdrawn at any time. For qualifying Variable Rate ISA accounts opened during this offer period, this variable rate (currently 1.20% AER/gross p.a) and conditions, will apply for 12 months from your account opening date. Your first deposit must be a minimum of £500 and the maximum deposit must not exceed the annual Cash ISA limit, currently £5,100. Transfers in from other providers are also allowed. At the end of the 12 month period or if your account balance falls below £500, the rate will revert to the standard Variable Rate ISA interest rate at that time (currently 0.50% AER/gross p.a.).

Rates for accounts opened from 09/08/2010 to 31/10/2010

Balance tiers Annual AER/gross p.a.
£0 - £499 0.50%
£500 + 2.60%




Variable Rate Individual Savings Account (Variable Rate ISA) Special Offer rate conditions: This Variable Rate ISA offer is only available for a limited period and may be withdrawn at any time. For qualifying Variable Rate ISA accounts opened during this offer period, this variable rate (currently 2.60% AER/gross p.a) and conditions, will apply for 12 months from your account opening date. Your first deposit must be a minimum of £500 and the maximum deposit must not exceed the annual Cash ISA limit, currently £5,100. Transfers in from other providers are also allowed. At the end of the 12 month period or if your account balance falls below £500, the rate will revert to the standard Variable Rate ISA interest rate at that time (currently 0.50% AER/gross p.a.).

Rates for accounts opened from 06/04/2010 to 08/08/2010

Rates effective from 15/03/2012 to 02/09/2013

Balance tiers Annual AER/gross p.a.
£0 - £499 0.50%
£500 + 2.00%

Rates effective from 06/04/2010 to 14/03/2013 

Balance tiers Annual AER/gross p.a.
£0 - £499 0.50%
£500 + 2.30%

 

Cash ISA variable rate and conditions:



This offer is only available for a limited period and may be withdrawn at any time. The interest rate is variable from your account opening date and is currently 2.30% AER/gross pa. Interest starts to accrue from the date on which cleared funds are paid into your Cash ISA. Your first deposit must be between £500 and £5,100 and you must fund your account within 30 days of opening it.

AER stands for annual equivalent rate and illustrates what the interest would be if interest was paid and compounded each year. Variable interest paid tax free, annually. Interest is calculated daily and paid on the anniversary of account opening.

Once you've successfully applied for a Cash ISA, follow these simple steps to fully open your account:

  • Verify your identity
  • Make a payment to your Cash ISA

Verify your identity

To comply with Money Laundering regulations, we need to verify your identity. We’ll try to electronically confirm your name and address. If we can't do this, we'll ask you to send us

See what ID documents we accept.

Making a payment to your account

To keep your account open you'll need to make a payment to it within 30 days. There are four easy ways to do this.

  • Bank transfer
  • Standing order
  • Transfer from an existing cash ISA with another provider
  • Cheque

You’ll find more information about this in 'How to pay in'.

There are four ways you can 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).

Transfer from an existing cash ISA with another provider

If you already have a Cash ISA with another provider and want to transfer it to your Sainsbury's Bank Cash ISA, just complete a transfer in form (PDF 76KB) and send it to: Sainsbury's Bank, PO Box 4954, Worthing, BN11 9YY.

Post a cheque

Write your sort code and account number on the back and send your cheque, payable to yourself, and a pay in slip, to: Sainsbury's Bank, PO Box 4954, Worthing, BN11 9YY

If you plan to make regular cheque payments, you can order a supply of pay in slips using online banking. Just click on 'Account details' on the 'My accounts' summary page, and on the right-hand side under 'I want to' click on 'Order pay-in slips'

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

Register for 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 account details
  • Change some personal detail
  • 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 on 08085 40 50 60. 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.

Maximum payments and withdrawals

You can pay into one Cash ISA during any one tax year. If you pay the maximum ISA allowance into your account and make a withdrawal, you can’t pay any more money in during that tax year.

Charges

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.

What is the minimum age limit to open a Sainsbury's Cash ISA?

18 years old.

What does tax free mean?

Tax free means you don’t pay any tax on the interest you earn. The tax treatment is subject to HMRC rules which may change.

Is there a minimum limit?

The minimum amount you can save with our Cash ISA is £1.

Is there a maximum limit?

The maximum amount you can invest with our Cash ISA is currently £15,240. There’s no limit on the amount you can transfer-in from an existing cash ISA with another provider.

How is interest paid?

We calculate interest daily and pay it annually on the anniversary of the date you opened your account.

How do I make a payment into my account?

You can pay by:

  • Cheque
  • Transfer from an existing cash ISA with another provider
  • Bank transfer
  • Standing order

You'll find more information about this in 'How to pay in'.

How do I transfer in my existing Cash ISA(s)?

Savers can transfer current year ISA subscription(s) in whole, and/or previous years ISA subscription(s) in whole or in part from another provider at any time. However, the terms and conditions for ISAs can vary between ISA managers, so it's a good idea to check with your provider before requesting the transfer. To transfer in funds, complete our transfer in form (PDF 76KB), send it to the address detailed and we will take care of the rest of the process. We aim to complete the transfer process within 15 working days of receiving your completed transfer application form. Your existing provider will pay interest until the day they close the account and send the money to us. We’ll pay interest at the new rate from the day they close your account, even if we haven’t received your money. If the transfer process takes longer than 15 working days, we’ll pay you interest at the new rate from the 16th working day (even if your old provider has not closed your old account), as long as your ISA was ready (i.e. was not subject to a notice period or was a fixed rate that had yet to mature) to be transferred when your existing provider received our request.

Transferring funds from a Stocks and Shares ISA can take up to 30 days.

How do I withdraw money?

Register for Sainsbury's Online Banking and you’ll be able to transfer money to your nominated account.

Is there a limit on the number of withdrawals?

No. You can make as many withdrawals as you want. Remember, if you’ve paid in your full Cash ISA allowance, any amount you withdraw can’t be replaced during the same tax year.

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 bank account with another provider?

If you switch current accounts using the Current Account Switch Service your new bank will let us know. We’ll then write to you asking you to call us to confirm that these instructions are correct. Once we have your confirmation we’ll update your instruction with your new account details.

Can I set up Direct Debits?

No, this account is specifically for savings, although you can transfer money into a nominated account in your name by using Sainsbury's Online Banking Service or our telephone service.

How will you advise me about rate changes?

Whenever we change our rates we’ll:

  • Update our website
  • Or write to you

Can my Spouse / Partner inherit my Cash ISA in the event of my death?

Yes, your surviving Spouse / Civil Partner can inherit your existing ISA allowance.  If you require advice on this please call us on 08085 40 50 60 and one of our colleagues will be happy to help 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 this Cash ISA be used for a business, club or association or a charity?

No, it’s only available for personal use.

Can I open a joint Cash ISA?

No, this is an Individual Savings Account (ISA).

How can I register for gross interest?

You do not need to register for gross interest as interest paid on your Cash ISA is paid tax free.

What happens if I decide to close my Cash ISA?

If you close your Cash ISA within the 14 day Cancellation Rights Period any amount you’ve paid in doesn’t count towards your ISA allowance for that tax year. If you close your Cash ISA after the 14 day Cancellation Rights Period any amount you paid in will count towards your allowance for that year.

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, call us on 08085 40 50 60. 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

For Cash ISAs opened after 13th April 2015, please refer to and read the following documents before you apply for a Sainsbury's Cash ISA:

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