Sainsbury’s Internet Saver offers 6% interest
Wednesday, 13 Jun 2007 08:05
Despite there being no change to the Bank of England base rate this month, Sainsbury’s Bank has announced that it is to increase the interest rate on its Internet Saver to 6%.
The new interest rate applies immediately for balances of £1 or more.
"We are obviously delighted to be announcing this fantastic new rate on our Internet Saver," said Peter Wood, head of Sainsbury's Savings.
"The internet savings market has become increasingly competitive, and there are some great rates available. We're proud to be able to offer such a superb rate with unlimited access to funds. Six per cent is the latest high point of in an impressive track record.
"With so many accounts in the market, savers need to think about which savings account best suits their needs, whether that's benefiting from a short term bonus or being able to access their funds without any penalties. Our Internet Saver is ideal for those savers who want to receive a great rate but also want to have regular access to their cash without any restrictions."