Sainsbury's Finance launches "competitive" new savings product

Wednesday, 02 June 2010 12:00

A two-year, fixed-rate savings account has been launched by Sainsbury's Finance.

The product, which can be opened online or by telephone, offers customers a rate of 3.55 per cent on savings between £5,000 and £50,000.

It has been described by the firm as among the most competitive accounts of its kind with a rate that is above the current market average of 3.12 per cent.

Neil Cameron, savings manager for Sainsbury's Finance, said: "We are committed to offering competitive products to savers and our new Fixed Rate Saver is the latest welcome addition."

Customers are also being offered the choice of annual or monthly interest.

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