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Sainsbury’s bumps Easy Saver rate to 2.7%

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by David Masters
Sainsbury's bumps Easy Saver rate to 2.7%

Sainsbury’s Finance has boosted the interest rate on its Easy Saver account for new customers.

Interest on accounts opened after 25th June 2010 will be paid at 2.7% Gross AER, an increase of 0.2 percentage points on the previous rate.

The 2.7% rate will be paid to new customers for 12 months provided they maintain a balance between £1 and £100,000.

Customers can make a maximum of five withdrawels during the 12 month period.

After 12 months, the interest rate on the account drops to the Bank of England’s base rate, currently 0.5%.

Sainsbury’s Finance said the account is “highly competitive”.

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News posted: June 30, 2010

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