Sainsbury's Finance Fixed-Rate Saver 'offers competitive interest rate'

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www.moneynews.co.uk > Banking > Sainsbury's Finance Fixed-Rate Saver 'offers competitive interest rate'

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Sainsbury's Finance Fixed-Rate Saver 'offers competitive interest rate'

The interest rate being offered on the new Sainsbury's Finance Fixed-Rate Saver is higher than the market average, according to the company.

The enterprise claimed the average interest rate being presented currently is 3.12 per cent, whereas this new product gives a return of 3.55 per cent on balances of £5,000 or more over two years.

Neil Cameron, savings manager at the firm, noted that this financial tool is just one of many ways people can save with the organisation.

He said: "We are committed to offering competitive products to savers and our new Fixed-Rate Saver is the latest welcome addition to our suite of accounts."

The Sainsbury's Finance Fixed-Rate Saver does not allow additional deposits to be made after it has been opened and account holders will not be able to access the money until the two-year term is up.

This week, the same company revealed the appointment of David Fisher as chief executive officer of the group.

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