Sainsbury's launches 3yr fixed-rate savings account

Sainsbury's has launched a set of three new fixed-rate savings accounts for the first time offering customers very competitive savings interest rates.

The accounts are available in one, two or three year options, paying three per cent, 3.5 per cent and four per cent AERs.
Accounts may be opened either by telephone or online, and savers may deposit values from £5,000 and £50,000.

Helen Cook, Sainsbury's Finance head of savings, said: "We strive to offer customers greater variety and the freedom to choose a savings account that best suits their requirements, so we're pleased to announce these excellent additions to our strong portfolio."

The new fixed-rate savings accounts are available to joint and single applicants and customers may opt for monthly or annual interest payments.

Withdrawals from the accounts are not permitted during the fixed term period.

Norwich and Peterborough, Nationwide and Natwest recently launched a series of savings accounts offering customers very competitive savings interest rates.
 

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2010-10-04 11:59:01 © Moneyextra.com