Sainsbury's launches new fixed-rate savings accounts

Sainsbury's Finance has announced the introduction of two new fixed-rate savings accounts designed to offer consumers some of the best savings interest rates on the market.

The new savings accounts offer new and existing customers an interest rate of up to four per cent.

A one-year and a three-year product have been introduced and may be opened by telephone or online and savers can deposit between £5,000 and £50,000.

Helen Cook, Sainsbury's Finance's head of savings, said: "Fixed-rate saving options always prove popular so we've developed another two for savers who are looking to review their existing accounts and put some money away in the knowledge they'll get a good return."

Ms Cook added that the bank is expecting the new savings accounts to be in high demand as they offer some of the most competitive savings interest rates on the market.

Sainsbury's Finance recently urged high street banks to make the process of saving easier, following the success of its own SaveBack scheme.
 

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2011-03-04 14:41:39 © Moneyextra.com