Tiered easy access deal appeals | Product News | moneyfacts.co.uk

Product 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.

Tiered easy access deal appeals

Tiered easy access deal appeals

Category: Savings
Author: Lieke Braadbaart
Date: 13/03/2018

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 It is now over 6 months old so the content may be out of date.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 Bank has relaunched an online easy access savings account that's competitive enough to earn a place in the Best Buy chart for its sector as well as a high Moneyfacts rating.

The basics…

The eSaver Special pays tiered rates of interest depending on the balance. It boasts a variable rate of 0.50% for those who deposit £1 up to £999.99, which climbs to 1.16% for those who invest between £1,000 and just under £15,000, then 1.21% up to nearly £30,000. The highest rate of 1.26% is paid to those who put between £30,000 and £500,000 into the account, with anything above that level earning the initial 0.50%. Interest is paid on the anniversary of opening the account and must be compounded.

The finer details…

This account, which can only be opened online but then managed by phone as well, allows additions via online banking, cheque and via SaveBack in stores, as well as unlimited withdrawals through a nominated current account.

Why we like it…

This deal's competitive rate for those with at least £1,000 to invest sees it deservedly take up a space in the Best Buys and comfortably earns it a high rating.

Moneyfacts rating: Excellent

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 Any products featured may be withdrawn by their provider or changed at any time.

 

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 Any products featured may be withdrawn by their provider or changed at any time.

Close