Sainsburys Finance launches new Internet Saver account

Sainsburys Finance has today launched a new Internet Saver account with a special offer rate of 2.8% AER for accounts opened in July.

The new Sainsburys Internet Saver account can be opened with a deposit balance of between £1,000 and £500,000.

As a special offer, accounts opened in July will have a higher rate of interest at 2.8% AER, compared with the account’s standard rate of 0.75%.

To qualify for this rate, no more than 3 withdrawals can be made a year.

If more withdrawals are made, or the balance on the account falls below £1,000, the interest rate will fall to the account’s standard rate.

Head of Savings at Sainsburys Finance, Helen Cook, said ‘We are delighted to be able to offer yet another compelling offer with our Internet Saver Account.’

Sainsburys Finance, established in 1997, is a 50:50 joint venture between Sainsburys and Lloyds Banking Group.