Sainsbury’s Bank savings accounts & interest rates: How good are they?

Customer reviews, account features and more. Fresh rates here daily.

No reviews yet. Write a review
Sainsbury's Bank

Sainsbury’s Bank was the first supermarket bank in the UK. It offers a wide range of financial products, including savings accounts.

However, customers should be aware that Sainsbury’s is in the process of transferring its personal loans, credit cards and savings accounts to NatWest. You can still open a new account with Sainsbury’s Bank, but if the High Court approves the transfer in April 2025, your Sainsbury’s savings account will be transferred to NatWest on 1 May 2025.

What is a '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.

Does Sainsbury’s offer online or mobile banking?

Sainsbury’s offers online banking through its website, but does not have a dedicated mobile banking app.

Here are some of the basic features of Sainsbury’s online banking service:

  • Check balances for any type of account.
  • Transfer money between accounts
  • Pay bills and people

How do I decide which account is for me?

You need to work out what it is you need from your savings 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 hoping to maximise interest?

You need to work out what you need before comparing the different offers available for certain types of savings account. Once you’ve done that, useful guidelines to compare include:

  • Interest rates
  • Fees (if there are any)
  • Access to cash (if you need quick access for instance)

The pros and cons of saving with Sainsbury’s

Pros

  • Online banking. Your Sainsbury’s savings account can be accessed online through the website.
  • Flexibility. The bank’s variety of accounts offer flexible options no matter what kind of savings you’re looking for.
  • Effortless and accessible. You can open an Sainsbury’s savings account in just a few minutes.
  • FSCS protection. With Sainsbury’s you have peace of mind that your money is protected up to a total of £85,000 by the UK’s deposit guarantee scheme.

Cons

  • Limited high street presence. If you like the assurance of face-to-face customer service, Sainsbury’s does have physical branches you can go to, but they are limited to just a few branches.
  • Possible transfer to NatWest. If you open a savings account with Sainsbury’s Bank, it could become a NatWest account in May 2025.

Customer service information for Sainsbury’s Bank

Email support
Telephone support
In-app or live chat
Contact form
Branch support

Bottom line

Sainsbury’s Bank currently offers a range of savings accounts, whether you’re looking to lock away your money for a set amount of time, or would prefer to access it whenever you need. Be sure to check out the best rates on the savings market right now first, though, to see how Sainsbury’s weighs up against the competition in terms of rates, fees and benefits. And remember that your account could be transferred to NatWest later this year.

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables is provided by Defaqto. In other cases, Finder has sourced data directly from providers.
Matthew Boyle's headshot
Written by

Publisher

Matthew Boyle is a banking and mortgages publisher at Finder. He has a 7-year history of publishing helpful guides to assist consumers in making better decisions. In his spare time, you will find him walking in the Norfolk countryside admiring the local wildlife. See full bio

Matthew's expertise
Matthew has written 261 Finder guides across topics including:
  • Helping first-time buyers apply for a mortgage
  • Comparing bank accounts and highlighting useful features
  • Publishing easy-to-understand guides

More guides on Finder

  • Revolut savings review

    Revolut now offers savings accounts to its customers, known as Savings Vaults. You can get interest of paid daily, but the rate depends on which level of account you have. Find out whether Savings Vaults are a good option for your spare cash.

  • Savings statistics: Average UK savings in 2025

    Our 2025 savings statistics show the average person in the UK has £16,067 in savings but 1 in 6 Brits (16%) have no savings at all.

  • NatWest Digital Regular Saver account review

    Get into the savings habit with the NatWest Digital Regular Saver account.

  • Monzo savings review

    By bringing together competitive interest rates and smart app features, Monzo makes a great choice for small savers. Here’s how Monzo savings accounts work.

  • TSB savings accounts

    TSB offers a range of different savings accounts. For anyone looking to save with the bank, take a look at our detailed guide.

  • Marcus savings accounts

    Goldman Sachs has launched its savings bank Marcus in the UK. Our review covers the features of its easy-access savings account vs the competition.

  • Santander savings accounts

    Our guide to Santander’s savings accounts. From ISAs to regular savings, from fixed-term to junior saving accounts, Santander might have the option for you.

  • Yorkshire Building Society savings accounts and interest rates

    Yorkshire Building Society offers a range of savings accounts. If you’re looking to save, see our guide for more.

  • Nationwide savings account rates compared

    Nationwide’s savings account options explained. Whether you’re happy to tie up your money or need instant access, we’ve covered the options.

  • Best NatWest savings accounts compared

    The fast pace of the UK banking market forces so-called ‘big banks’ like NatWest to stay ahead of the curve. By constantly refining the user experience with improvements to online banking and mobile apps, NatWest remains one of the UK’s most popular banks.

Go to site