Sainsbury's Finance increases savings interest rates

Sainsbury's Finance has announced it is increasing its savings interest rates on its Easy and Online product ranges.

From April 15th, the firm will increase the rates payable on all Easy saver accounts from 2.5 per cent AER to 2.6 per cent, while those with Online Saver accounts will pay 2.85 per cent up from 2.7 per cent.

The Online saver account offers customers competitive savings interest rates and the flexibility of up to three penalty-free cash withdrawals per year.

Whereas, the Easy savers give customers the freedom to make up to five withdrawals without incurring a penalty.

"We're delighted to give our customers another rate boost, and continue to offer a range of accounts paying competitive rates," said Helen Cook, head of savings at Sainsbury's Finance.

Yorkshire Building Society has also recently announced competitive savings interest rates.

The firm yesterday April 14th announced the launch of a new two-year fixed rate bond paying 3.95 per cent AER.

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2011-04-15 15:55:29 © Moneyextra.com