New Fixed Rate Savings Account From Sainsbury’s Finance
Published: 21 January 2011 By MoneyHighStreet Staff Leave a Comment
Sainsbury’s Finance has a new one year fixed rate savings account, paying 3.2% AER gross.
This new fixed rate savings account is one of the most competitive on the market and is available to new and existing customers.
The minimum deposit is £5,000 and the maximum £50,000. One deposit can be made and withdrawals cannot be made during the account’s fixed term.
Helen Cook, Sainsbury’s Finance’s Head of Savings said: “It’s important to Sainsbury’s Finance that our customers have a strong selection of accounts to consider, and this one year fixed bond is perfect for savers looking for a good return over a short period of time. We expect the account to prove very popular.”
The account can be opened online via the Sainsbury’s Finance website or by telephone.
Sainsbury’s Finance is a joint venture between J.Sainsbury plc and Lloyds Banking Group
MoneyHighStreet.com comment: This is a competitive fixed rate savings account. Be aware of the fact that you cannot withdraw funds during the life of the fixed rate. Of course the fixed rate is as the name suggests fixed for the one year period . This may be what you are looking for. Perhaps to consider in contrast, Leeds Building Society has recently launched a new base rate tracker bond savings account. This is designed to track the Bank of England base rate, which many analysts predict will be rising.
Ultimately readers should make their own judgements based on their specific requirements, seeking independent financial advice as appropriate.
