New savings accounts launched by Sainsbury's Finance

Friday, 04 March 2011 11:33

Two new fixed rate savings accounts have been launched by Sainsbury's Finance, paying up to four per cent AER.

Consumers will be able to choose from the new accounts and existing savings products, which already include a two-year fixed rate option paying 3.5 per cent.

The new one and three year options pay three per cent a four per cent respectively, while all three accounts can be opened either by telephone or online, allowing savers to make one deposit of between £5,000 and £50,000.

Helen Cook, Sainsbury's Finance's head of savings stated 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".

She added the firm anticipates significant demand for the new accounts as they are currently "among the most competitive" available on the market.

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