Sainsbury's Bank accounts have "fantastic track record"

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Sainsbury's Bank accounts have "fantastic track record"

Fri 11th May 2007

Sainsbury's Bank has increased the rate on its internet saver account by 0.25 per cent, following the decision by the Bank of England's monetary policy committee to increase the base rate by a quarter point yesterday.

From May 17th, the Sainsbury's Bank account will offer a competitive interest rate of 5.75 per cent on all balances.

Customers who possess such a Sainsbury's Bank account will also not lose any interest or have charges imposed upon them for making a withdrawal.

Peter Wood, head of savings at the bank, said the latest improvement to the Sainsbury's account indicates "our fantastic track record of offering consistent rates to savers in this competitive internet-only savings market".

He added: "In addition to offering consistently competitive rates of interest, our savings customers benefit from our rate promise to pay higher than the average market rate of interest until at least the end of 2010."

For more information on the Sainsbury's Bank account range, visit the group's website, pick up a leaflet at local branches of the supermarket or call the customer services team.

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