We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Sainsbury's Bank Easy Saver Status
Dunwunderin
Posts: 163 Forumite
A year ago I opened an e -easy saver savings account at a 3.0% interest rate with Sainsbury's Bank
The account has just received its interest on the anniversary of the account opening a year ago.
I suspect that Sainsburys have now reduced the current interest rate to 0.5% but have not reminded me of this reduction.
Is there anyway I can get back to the original rate without closing the account?
Should I close this account and put proceeds into a cash ISA to get a similiar return? What are latest Cash ISA best Buys?
The account has just received its interest on the anniversary of the account opening a year ago.
I suspect that Sainsburys have now reduced the current interest rate to 0.5% but have not reminded me of this reduction.
Is there anyway I can get back to the original rate without closing the account?
Should I close this account and put proceeds into a cash ISA to get a similiar return? What are latest Cash ISA best Buys?
0
Comments
-
Unlikely, but why not ring them (freephone 0500 405060). Let us know if you are successful!Dunwunderin wrote: »I suspect that Sainsburys have now reduced the current interest rate to 0.5% but have not reminded me of this reduction.
Is there anyway I can get back to the original rate without closing the account?0 -
Was it a fixed rate account or variable??0
-
Current and previous rates appear to be shown here:
http://www.sainsburysbank.co.uk/savings/support/support_easysaver.shtmlStompa0 -
Hi,
Read T & C more closely , rate drops to 0.5% after 12 months.
No way back except account closure.
I think this is called "inertia Savings"
Time to move ON!0 -
Sainsbury's current easy saver is offering 2.7%, which is only 0.1% less than the market leader (the AA). I can't see anywhere that you can't open a new easy saver account and transfer the balance from the old account. Or am I missing something?0
-
T&Cs (2.6) mention this:
"We may limit the number of Sainsbury's Easy Saver accounts you can have."
As the interest rate table clearly shows interest rates are based on account opening dates, I don't think you have missed anything Sceptic001 (other than the possibility of Sainsbury's Bank simply refusing to open a new Easy Saver of course).0 -
Sceptic001 wrote: »Sainsbury's current easy saver is offering 2.7%, which is only 0.1% less than the market leader (the AA). I can't see anywhere that you can't open a new easy saver account and transfer the balance from the old account. Or am I missing something?
It's waht I did.
Easy Saver also pays monthly interest."An arrogant and self-righteous Guardian reading tvv@t".
!!!!!! is all that about?0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.5K Banking & Borrowing
- 254.1K Reduce Debt & Boost Income
- 455K Spending & Discounts
- 246.5K Work, Benefits & Business
- 602.8K Mortgages, Homes & Bills
- 178K Life & Family
- 260.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards