Sainsbury's Bank Fixed-Rate Saver account launched

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Sainsbury's Bank Fixed-Rate Saver account launched

A new Sainsbury's Bank Fixed-Rate Saver account has been introduced, offering a guaranteed gross return of 4.9 per cent.

Investors can put £3,000 or more into the account, subject to a maximum investment level of £1 million.

The deal is a one-year package, and will reach maturity on May 15th 2007, at which point the level of interest accrued through the 4.9 per cent rate will be paid.

A strict limit has been set on the amount of investment that the company can receive through the Sainsbury's Bank Fixed-Rate Saver account and when this amount is reached the offer will cease to be available.

The account is only available online and more details regarding the offer can be found on the Sainsbury's Bank website.

Sainsbury's Bank claims to have opened over two million customer accounts and attracted deposits of over £2 billion since it began trading.

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