Sainsbury Bank Defined Access Saver (Presently top choice on MSE for instant savings):

eskbanker

Reddleman79 said:

If Sainsbury's had been upfront and said in their T&C that the rate was fixed for the life of that product, then I would have been quicker off the ball opening a new account and transferring the money.

It's not necessarily fixed for the life of the product - if you look at rate histories on their website you'll see that they do change their variable rates sometimes.

msallen

If the next issue offered a lower interest rate, would you like to be automatically switched to that too?

Daliah

Reddleman79 said:

If Sainsbury's had been upfront and said in their T&C that the rate was fixed for the life of that product, then I would have been quicker off the ball opening a new account and transferring the money. Back in the day I only remember fixed rate bonds being marketed using 'Issue numbers '. I suppose it's a sign of the times in which we live, where nothing is quite what it seems. 

But the rate isn’t fixed for life. It is variable and it may (not will) go up or down.

Daliah

msallen said:

If the next issue offered a lower interest rate, would you like to be automatically switched to that too?

They probably do that, unless you have a fixed rate account.