Compare our savings accounts
Whether you're saving for something important, or just want to put some money away for a rainy day, we offer a wide range of savings accounts that could be suitable for you.
Our savings products are covered by the Financial Services Compensation Scheme.
Show me:
Defined Access Saver - Issue 20Access your money up to 3 times per year whilst earning a higher interest rate. Open from just £1 and save for the future with the flexibility of easy access. |
|
|---|---|
| Interest rate |
0.35 - 0.45%
AER Gross p.a. (variable) on balances of £1 - £500,000 |
| Deposits |
Minimum deposit £1Maximum deposit £2,000,000 |
| Withdrawals | Up to 3 withdrawals each year from account opening. Interest rate will reduce if more withdrawals are made within that period. |
| Term | N/A |
| Interest paid | Annually |
Cash ISASave for your future tax-free with our Cash ISA, and make the most of your 2020/21 £20,000 ISA allowance. You can start with just £1, with no withdrawal restrictions and access to your money when you need it. |
|
|---|---|
| Interest rate |
0.50%
AER Tax free p.a. (variable) |
| Deposits |
Minimum deposit £1Maximum deposit £2,000,000 |
| Withdrawals | Unrestricted* |
| Term | N/A |
| Interest paid | Annually |
Fixed Rate SaverOur Fixed Rate Saver offers you a fixed rate of interest for 1 - 5 years, so you can enjoy the peace of mind of knowing exactly what return you'll get on your money. |
|
|---|---|
| Interest rate |
0.75 - 1.00%
AER Gross p.a. |
| Deposits |
Minimum deposit £5,000Maximum deposit £1,000,000 |
| Withdrawals | None allowed until maturity |
| Term | 1 - 5 years |
| Interest paid | Monthly or Annually |
Fixed Rate Cash ISAOur Fixed Rate Cash ISA offers you a tax free fixed interest rate for 1 – 5 years, so you can feel secure in knowing exactly what return you’ll get on your money. Make sure you can commit for the full term. There’s an early closure charge if you close your account early, which means you may get back less than you paid in. It also allows you to transfer in ISA savings held elsewhere and make the most of your 2020/21 Cash ISA allowance. |
|
|---|---|
| Interest rate | 0.85 - 1.03%
AER / tax free p.a. |
| Deposits |
Minimum deposit £5,000Maximum deposit £2,000,000 |
| Withdrawals | Not allowed – Early closure only |
| Term | 1 - 5 years |
| Interest paid | Annually |
 |
Financial Services Compensation SchemeAll of our savings products are covered by the Financial Services Compensation Scheme (FSCS). For further information about the compensation provided by the FSCS visit www.fscs.org.uk Protecting your money - A guide from the FSCS (PDF, 1.71Mb,) |
The tax treatment or rate of interest payable depends on the individual circumstances of each customer and may be subject to change in the future.
Savings accounts are available from Sainsbury’s B@nk to UK residents aged 18 years old or over. Sainsbury’s B@nk reserves the right to alter rates at any time.
*If you have paid in your full allowance, any amount you withdraw cannot be replaced during the tax year.
Gross interest is the interest rate paid with out the deduction of income tax. AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if paid and compounded once each year. Tax-free is the interest rate payable where interest is exempt from income tax.
The tax treatment of savings interest changed from 6 April 2016. Find out more.