Extra Saver - Savings Support

Rates for accounts opened from 08/09/2016

Rates effective from 08/09/2016

Balance tiers AER/tax free p.a.
£1 - £14,999 0.55%
£15,000 - £29,999 0.70%
£30,000 - £500,000 0.85%
£500,001+ 0.50%

Rates for accounts opened from 18/08/2016 to 07/09/2016

Rates effective from 18/08/2016

Balance tiers AER/tax free p.a.
£1 - £14,999 0.65%
£15,000 - £29,999 0.80%
£30,000 - £500,000 0.95%
£500,001+ 0.50%

Rates for accounts opened from 14/06/2016 to 17/08/2016

Balance tiers AER/tax free p.a.
£1 - £14,999 0.80%
£15,000 - £29,999 0.95%
£30,000 - £500,000 1.10%
£500,001+ 0.50%

Rates for accounts opened from 01/12/2011 to 28/01/2016

Rates effective from 01/06/2016

Balance tiers AER/tax free p.a.
£1 - £14,999 0.80%
£15,000 - £29,999 0.95%
£30,000 - £500,000 1.10%
£500,001+ 0.50%

AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if paid and compounded once each year. The Gross interest is the interest rate paid with out the deduction of income tax. Interest is calculated daily and credited to your account annually.

Rates for accounts opened from 01/12/2011 to 28/01/2016

Rates effective from 06/04/2016 to 31/05/2016

Balance tiers AER/tax free p.a.
£1 - £9,999 1.10%
£10,000 - £19,999 1.15%
£20,000 - £500,000 1.20%
£500,001+ 0.50%

Rates for accounts opened from 20/11/2014 to 05/04/2016

Rates effective from 12/03/2015 to 05/04/2016

Balance tiers AER/tax free p.a. Net p.a.
£1 - £9,999 1.10% 0.88%
£10,000 - £19,999 1.15% 0.92%
£20,000 - £500,000 1.20% 0.96%
£500,001+ 0.50% 0.40%

Rates for accounts opened from 04/06/2013 to 19/11/2014

Rates effective from 12/03/2015 to 05/04/2016

Balance tiers AER/tax free p.a. Net p.a.
£1 - £9,999 1.10% 0.88%
£10,000 - £19,999 1.15% 0.92%
£20,000 - £100,000 1.20% 0.96%
£100,001+ 0.50% 0.40%

Rates for accounts opened from 01/12/2011 to 03/06/2013

Rates effective from 02/07/2015 to 05/04/2016

Balance tiers AER/tax free p.a. Net p.a.
£1 - £9,999 1.10% 0.88%
£10,000 - £19,999 1.15% 0.92%
£20,000 - £100,000 1.20% 0.96%
£100,001+ 0.50% 0.40%

AER stands for annual equivalent rate and illustrates what the interest would be if interest was paid and compounded each year. The gross rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law (currently 20%). Net is the rate of interest paid after the deduction of basic rate tax at 20%. Interest is calculated daily and credited to your account annually.

Rates for accounts opened from 07/03/2014 to 19/11/2014

Rates effective from 07/03/2014 to 11/03/2015

Balance tiers AER/tax free p.a. Net p.a.
£1 - £100,000 1.20% 0.96%
£100,001+ 0.50%
0.40%

Rates for accounts opened from 04/06/2013 to 06/03/2014

Rates effective from 01/08/2014 to 11/03/2015

Balance tiers AER/tax free p.a. Net p.a.
£1 - £100,000 1.20% 0.96%
£100,001+ 0.50%
0.40%

Rates effective from 04/06/2014 to 31/07/2014

Balance tiers AER/tax free p.a. Net p.a.
£1 - £100,000 1.30% 1.04%
£100,001+ 0.50%
0.40%

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

Rates effective from 12/03/2015 to 01/07/2015

Balance tiers AER/tax free p.a. Net p.a.
£1 - £9,999 1.20% 0.96%
£10,000 - £19,999 1.25% 1.00%
£20,000 - £100,000 1.30% 1.04%
£100,001+ 0.50% 0.40%

Rates effective from 02/04/2014 to 11/03/2015

Balance tiers AER/tax free p.a. Net p.a.
£1 - £100,000 1.30% 1.04%
£100,001+ 0.50%
0.40%

Rates effective from 02/11/2012 to 07/01/2013

Balance tiers AER/tax free p.a. Net p.a.
£1 - £100,000 1.50% 1.20%
£100,001+ 0.50%
0.40%

Rates for accounts opened from 02/11/2012 to 07/01/2013

Rates effective from 12/03/2015 to 01/07/2015

Balance tiers AER/tax free p.a. Net p.a.
£1 - £9,999 1.20% 0.96%
£10,000 - £19,999 1.25% 1.00%
£20,000 - £100,000 1.30% 1.04%
£100,001+ 0.50%
0.40%

Rates effective from 02/04/2014 to 11/03/2015

Balance tiers AER/tax free p.a. Net p.a.
£1 - £100,000 1.30% 1.04%
£100,001+ 0.50%
0.40%

Rates effective from 01/07/2013 to 01/04/2014

Balance tiers AER/tax free p.a. Net p.a.
£1 - £100,000 1.70% 1.35%
£100,001+ 0.50%
0.40%

Rates effective from 02/11/2012 to 30/06/2013

Balance tiers AER/tax free p.a. Net p.a.
£1 - £100,000 1.80% 1.44%
£100,001+ 0.50%
0.40%

Rates for accounts opened from 03/10/2012 to 01/11/2012

Rates effective from 12/03/2015 to 01/07/2015

Balance tiers AER/tax free p.a. Net p.a.
£1 - £9,999 1.20% 0.96%
£10,000 - £19,999 1.25% 1.00%
£20,000 - £100,000 1.30% 1.04%
£100,001+ 0.50%
0.40%

Rates effective from 02/04/2014 to 11/03/2015

Balance tiers AER/tax free p.a. Net p.a.
£1 - £100,000 1.30% 1.04%
£100,001+ 0.50%
0.40%

Rates effective from 01/07/2013 to 01/04/2014

Balance tiers AER/tax free p.a. Net p.a.
£1 - £100,000 1.70% 1.35%
£100,001+ 0.50%
0.40%

Rates effective from 03/10/2012 to 30/06/2013

Balance tiers AER/tax free p.a. Net p.a.
£1 - £100,000 2.30% 1.84%
£100,001+ 0.50%
0.40%
Rates for accounts opened from 15/05/2012 to 02/10/2012

Rates effective from 12/03/2015 to 01/07/2015

Balance tiers AER/tax free p.a. Net p.a.
£1 - £9,999 1.20% 0.96%
£10,000 - £19,999 1.25% 1.00%
£20,000 - £100,000 1.30% 1.04%
£100,001+ 0.50%
0.40%

Rates effective from 02/04/2014 to 11/03/2015

Balance tiers AER/tax free p.a. Net p.a.
£1 - £100,000 1.30% 1.04%
£100,001+ 0.50%
0.40%

Rates effective from 01/07/2013 to 01/04/2014

Balance tiers AER/tax free p.a. Net p.a.
£1 - £100,000 1.70% 1.35%
£100,001+ 0.50%
0.40%

Rates effective from 20/02/2013 to 30/06/2013

Balance tiers AER/tax free p.a. Net p.a.
£1 - £100,000 2.00% 1.60%
£100,001+ 0.50%
0.40%

Rates effective from 15/05/2012 to 19/02/2013

Balance tiers AER/tax free p.a. Net p.a.
£1 - £100,000 2.50% 2.00%
£100,001+ 0.50%
0.40%

Rates for accounts opened from 23/03/2012 to 14/05/2012

Rates effective from 12/03/2015 to 01/07/2015

Balance tiers AER/tax free p.a. Net p.a.
£1 - £9,999 1.20% 0.96%
£10,000 - £19,999 1.25% 1.00%
£20,000 - £100,000 1.30% 1.04%
£100,001+ 0.50%
0.40%

Rates effective from 02/04/2014 to 11/03/2015

Balance tiers AER/tax free p.a. Net p.a.
£1 - £100,000 1.30% 1.04%
£100,001+ 0.50%
0.40%

Rates effective from 01/07/2013 to 01/04/2014

Balance tiers AER/tax free p.a. Net p.a.
£1 - £100,000 1.70% 1.35%
£100,001+ 0.50%
0.40%

Rates effective from 20/02/2013 to 30/06/2013

Balance tiers AER/tax free p.a. Net p.a.
£1 - £100,000 2.10% 1.68%
£100,001+ 0.50%
0.40%

Rates effective from 23/03/2012 to 19/02/2013

Balance tiers AER/tax free p.a. Net p.a.
£1 - £100,000 2.60% 2.08%
£100,001+ 0.50%
0.40%

Rates for accounts opened from 01/02/2012 to 22/03/2012

Rates effective from 12/03/2015 to 01/07/2015

Balance tiers AER/tax free p.a. Net p.a.
£1 - £9,999 1.20% 0.96%
£10,000 - £19,999 1.25% 1.00%
£20,000 - £100,000 1.30% 1.04%
£100,001+ 0.50%
0.40%

Rates effective from 02/04/2014 to 11/03/2015

Balance tiers AER/tax free p.a. Net p.a.
£1 - £100,000 1.30% 1.04%
£100,001+ 0.50%
0.40%

Rates effective from 01/07/2013 to 01/04/2014

Balance tiers AER/tax free p.a. Net p.a.
£1 - £100,000 1.70% 1.35%
£100,001+ 0.50%
0.40%

Rates effective from 20/02/2013 to 30/06/2013

Balance tiers AER/tax free p.a. Net p.a.
£1 - £100,000 2.00% 1.60%
£100,001+ 0.50%
0.40%

Rates effective from 01/12/2011 to 19/02/2013

Balance tiers AER/tax free p.a. Net p.a.
£1 - £100,000 2.50% 2.00%
£100,001+ 0.50%
0.40%

Rates for accounts opened from 24/12/2011 to 31/01/2012

Rates effective from 12/03/2015 to 01/07/2015

Balance tiers AER/tax free p.a. Net p.a.
£1 - £9,999 1.20% 0.96%
£10,000 - £19,999 1.25% 1.00%
£20,000 - £100,000 1.30% 1.04%
£100,001+ 0.50%
0.40%

Rates effective from 02/04/2014 to 11/03/2015

Balance tiers AER/tax free p.a. Net p.a.
£1 - £100,000 1.30% 1.04%
£100,001+ 0.50%
0.40%

Rates effective from 01/07/2013 to 01/04/2014

Balance tiers AER/tax free p.a. Net p.a.
£1 - £100,000 1.70% 1.35%
£100,001+ 0.50%
0.40%

Rates effective from 20/02/2013 to 30/06/2013

Balance tiers AER/tax free p.a. Net p.a.
£1 - £100,000 2.25% 1.80%
£100,001+ 0.50%
0.40%

Rates effective from 24/12/2011 to 19/02/2013

Balance tiers

AER/tax free p.a. Net p.a.
£1 - £100,000 2.75% 2.20%
£100,001+ 0.50% 0.40%

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

Rates effective from 12/03/2015 to 01/07/2015

Balance tiers AER/tax free p.a. Net p.a.
£1 - £9,999 1.20% 0.96%
£10,000 - £19,999 1.25% 1.00%
£20,000 - £100,000 1.30% 1.04%
£100,001+ 0.50%
0.40%

Rates effective from 02/04/2014 to 11/03/2015

Balance tiers AER/tax free p.a. Net p.a.
£1 - £100,000 1.30% 1.04%
£100,001+ 0.50%
0.40%

Rates effective from 01/07/2013 to 01/04/2014

Balance tiers AER/tax free p.a. Net p.a.
£1 - £100,000 1.70% 1.35%
£100,001+ 0.50%
0.40%

Rates effective from 20/02/2013 to 30/06/2013

Balance tiers AER/tax free p.a. Net p.a.
£1 - £100,000 2.00% 1.60%
£100,001+ 0.50%
0.40%

Rates effective from 01/12/2011 to 19/02/2013

Balance tiers

AER/tax free p.a. Net p.a.
£1 - £100,000 2.50% 2.00%
£100,001+ 0.50% 0.40%

AER stands for annual equivalent rate and illustrates what the interest would be if interest was paid and compounded each year. The gross rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law (currently 20%). Net is the rate of interest paid after the deduction of basic rate tax at 20%. Interest is calculated daily and credited to your account annually.

Once you've successfully applied for an Extra Saver account, follow these three simple steps to fully open your account:

Verifying 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 specific documents.

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.

  • By bank transfer
  • By standing order
  • By cheque
  • Saveback

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).
  • SaveBack − add to your savings with your debit card when you shop at a main Sainsbury's store.
  • 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 Sainsbury's 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 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 our Online Banking Service.

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. 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.

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 an Extra Saver account?

18 years old.

Is there a maximum limit?

The maximum amount that any one customer can hold in accounts (whether in their sole name or 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.

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 four easy ways to pay into your account:

  • Bank transfer
  • Standing order
  • Cheque
  • Saveback

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

What happens if I switch my 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.

How do I withdraw money?

Register for Sainsbury's Online Banking and you'll be able to transfer money to your nominated account. You can also make withdrawals using the telephone service.

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.

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 advise me about rate changes?

Whenever our rates change 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 servicecs you may be charged. We'll always let you know if you request a service that carries a charge.

Can an Extra Saver account be used for a business, club or association or a charity?

No, it's only available for personal use.

Can I open a joint Extra Saver account?

Yes. Both parties to a joint account will get individual, passwords and security details for Online Banking.

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, call us on 08085 40 50 60. We’re open Monday to Friday 8am–10pm and 8am–6pm at weekends.

We are using cookies on this website to enhance your browsing experience. You can read more information on our cookies by clicking the "Find out more about cookies" button. By continuing your journey on this site you consent to the continued use of cookies.