Market leading interest rate (1.25%)
Sainsbury’s Bank opened in 1997, as a joint venture with Bank of Scotland. In 2014, however, Sainsbury’s took 100% ownership of the bank, with the supermarket now offering financial services to over 1.8 million UK customers.
Take a look at some of our tables and guides to compare Sainsbury’s to the other leading banks in the UK.
Sainsbury’s currently offers several different kinds of savings accounts:
Defined Access Saver
Fixed Rate Saver
Fixed Rate Cash ISA
A cash ISA is a savings account where you don’t pay tax on the interest you earn. That’s it! The tax-free bit is the only real difference.
Sainsbury’s offers online banking through its website, but does not have a dedicated mobile app.
Here are some of the basic features of Sainsbury’s online banking service:
You need to work out what it is you need from your bank account. Are you looking to put a bit of money away each month? Do you want to put some money away and restrict access to it? Are you after rewards or hoping to maximise interest?
You need to work out what you need before comparing the different offers available for certain types of bank account. Once you’ve done that, useful guidelines to compare include:
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