Sainsburys Finance highlights 'special condition' for savings product

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www.moneynews.co.uk > Banking > Sainsburys Finance highlights 'special condition' for savings product

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Sainsburys Finance highlights 'special condition' for savings product

A special condition applies to a new savings product from Sainsburys Finance, if people sign up for the deal after August 10th 2010.

The arrangement in question is the 12-month cash Isa, which offers customers 2.6 per cent interest on balances between £500 and £5,100, with clients able to access their funds instantly.

Sainsburys Finance revealed that it has launched a limited edition option for individuals currently signing up for the product, whereby they can opt for a variable-rate Isa.

The same balance restrictions apply, with interest dropping to 0.5 per cent after the one-year term is over.

Currently, the variable interest rate stands at 2.6 per cent, although the company stressed that this bonus will be lost if the balance on the account drops below £500.

Last month, Sainsburys Finance urged customers to show their Nectar card when they get travel money at the firm's in-store facilities, as they will be rewarded with extra points.

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