Sainsbury's calls on banks to make saving easier

Sainsbury's Finance has urged other supermarkets and retail banks to make the process of saving easier, following the success of its own SaveBack scheme.

With the simple swipe of a debit card plus their SaveBack card, Sainsbury's shoppers can make deposits of between £1 and £2,500 at the till.

New research from the supermarket bank found that half of all Brits would be interested in making savings deposits into accounts with the best savings interest rates while paying for their shopping.

Over 15 million potential savers said they would be willing to make an average deposit of £60 each month via the supermarket tills.

Helen Cook, head of savings at Sainsbury's Finance said: "We believe we all have a part to play in helping Britain to save more and would encourage other supermarkets to follow suit."

Sainsbury's Finance recently increased the savings interest rate paid on its Online Saver account, which now pays a highly competitive rate of 2.7 per cent AER.
 

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2011-02-16 16:24:33 © Moneyextra.com