Internet Saver - Savings Support

This account is no longer available.

View our current range of accounts.

Rates for accounts opened from 01/11/2009

Rates effective from 06/04/2016

Balance tiers Annual AER/gross p.a.
£1 - £5,000 0.10%
£5,001 - £25,000 0.35%
£25,001+ 0.45%

Details of historic interest rates are available by calling
on 08085 405060*.

AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if paid and compounded once each year. Gross interest is the interest rate paid without the deduction of income tax. Variable interest is calculated daily and paid on the anniversary of account opening.
*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.

There are three easy ways to save:

  • 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 account 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, and a pay in slip, to: Sainsbury's Bank PO Box 29191 Dunfermline KY12 2AU

If you plan to make regular cheque payments, you can order a supply of pay in slips using online banking.

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

  • View your statements, and transactions for the past 12 months
  • Transfer money to a nominated account
  • Make payments to your Sainsbury's Credit Card
  • Transfer funds between your Sainsbury's savings accounts
  • Change your address or account details

Need help?

Find out more about registering for and using our Online Banking Service.

Forgotten your username or password? Call us 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.


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. There’s a duplicate statement charge of £5.

Is there a maximum limit?

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.

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?

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?

Payments processed through the Faster Payments scheme and SaveBack deposits should arrive in your account no later than the next bank working 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 Sainsbury's Bank accounts normally arrive in your account straightaway, except when you make them after 8pm or on a non-bank working day.

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
  • Publish our new rates in The Times, Daily Mail and Daily Telegraph
  • 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 Internet Saver account be used for a business, clubs or associations, 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.

I’ve changed my address, what do I need to do?

If you’re registered for Online Banking you can change it online. Alternatively, call us 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.

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

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