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”.