Sainsbury's Finance: More conditions on savings accounts

Money News

www.moneynews.co.uk > General finance > Sainsbury's Finance: More conditions on savings accounts

Topics

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Features

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Companies

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Money News

bullet
bullet
bullet
bullet
bullet

Sainsbury's Finance: More conditions on savings accounts

More conditions and restrictions are being placed on savings accounts, the head of Sainsbury's Finance has said.

Following research by Sainsbury's Finance, Helen Cook said there is a "trend" for conditions to increase on such accounts and warned that customers may not fully understand them.

She said withdrawal restrictions have risen, as has the number of accounts with penalties.

The research, in association with Defaqto, of the top 50 instant or easy access savings accounts with balances of £1,000 found that many of the best buy ones are applying conditions to their use.

Of the accounts, 12 restrict the number of withdrawals that can be made, four apply a penalty for withdrawal and nine are available only to adults of specified ages.

Last month, figures released by the British Bankers Association showed personal deposit growth dropped in May from April.

This coincided with a drop in house purchase approvals and a rise in consumer credit.
ADNFCR-323-ID-18667546-ADNFCR

Related News : General finance

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Related News : Sainsbury

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet