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Account launched – for one month only
Sainsbury's Finance launched a new best buy savings account this week – but the deal is only available for one month.
The group's Internet Saver is offering a rate of 2.8 per cent on balances of between 1,000 and 500,000 on accounts opened during July, as long as no more than three withdrawals a year are made.
The return is 2.05 per cent higher than the account's standard rate of 0.75 per cent, and puts it in second place on the best buy tables, behind Intelligent Finance at 2.85 per cent.
The limited period for which the deal is available is likely to cause a rush among savers to open one of the accounts.
Some market-leading deals have been withdrawn in a matter of days recently, after being oversubscribed by consumers desperate to find a high-paying home for their cash.
Last week Chesham Building Society pulled its best buy one-year fixed-rate bond after just four days due to high demand.
Similarly, Close Brothers published an apology on its website after consumers struggled to get through to its customer services team due to the high level of calls it was receiving about its market-leading Premium Gold bonds.
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Weather for Yorkshire
Wednesday 23 May 2012
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