Sainsburys Bank have increased the interest paid on their Variable Rate Cash ISA 2 February at 12:16PM in Savings & investments 4 replies 315 views

coopstar2301

If you've got a Variable Rate Cash ISA with Sainsbury's Bank - you need to send them a message and ask them to put you on their new higher interest rate. They don't do automatically. Just login to your account and send them a message, and they'll increase it from the date you send the message. Don't forget to check their website frequently and whenever the interest rate increases, send them another message. They're very cheeky, they will never do it automatically like most other banks.

jimjames

So what is the rate?

ColdIron

Most other banks don't automatically increase rates on savings accounts. Many require you to open a new product and transfer

coopstar2301

jimjames said:

So what is the rate?

It's 2.7% - up from 2.4%.
I'm not recommending the ISA, just informing those who already have one and don't know that they need to request the higher interest rate.

coopstar2301

ColdIron said:

Most other banks don't automatically increase rates on savings accounts. Many require you to open a new product and transfer

Crazy! They advertise them as variable rates, and tell you the interest rate could go up or down. But don't actually increase it unless you ask, or transfer.