Sainsbury’s Finance offers easy pickings - Savings - News - Moneyfacts

News

Moneyfacts.co.uk News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

Sainsbury’s Finance offers easy pickings

Sainsbury’s Finance offers easy pickings

Category: Savings

Updated: 07/09/2009
First Published: 08/09/2009

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Sainsbury's Finance has launched a no notice account that offers a market leading rate to savers who prefer to carry out their transactions over the telephone.

The Easy Saver is a no notice telephone operated account which pays a yearly or monthly rate of interest of 2.80% on a minimum investment of just £1.

Savers are permitted to make five withdrawals a year, while the rate is guaranteed to be at least 2.00% above the base rate for the next 12 months.

The rate reverts to 0.50% if a sixth withdrawal is made or the balance goes below £1 or above £500K. Withdrawals must be made via a nominated account.

While withdrawals are restricted, this account is likely to prove very popular.

The easy saver has been awarded four out of five Moneyfacts stars.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Just 44 savings accounts beat inflation

Inflation recorded another large jump during December, and predictably, this has had a devastating impact on the number of savings accounts that beat it, so much so that you’ll need to lock your money away if you want an inflation-beating return.

Just 47% have money in a savings account

We’re often told of the importance of saving, yet unfortunately, the message doesn’t always get through. Indeed, research shows that just 47% of those surveyed have money in a savings account, and 17% have no savings or investment whatsoever.

How much will you save this year?

Many of us have set savings goals for the year ahead, and planning to budget better and save more will be at the top of many financial resolution lists. But how much are you hoping to squirrel away? Encouragingly, many people have impressive targets.
 
Close