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Credit card provider offers new special rate offer to savers

Credit card provider Sainsbury's Finance is offering a new special rate of 2.65% AER (variable) on deposits up to £500,000.

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10 June 2009

Credit card provider offers new special rate offer to savers”

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Credit card provider Sainsbury's Finance is offering a new special rate of 2.65% AER (variable) on deposits up to £500,000.

This is 1.85% higher than the company's Internet Saver's standard rate.

According to Sainsbury's Finance, the offer is open to savers so long as they do not make more than three withdrawals a year.

If more than three withdrawals are made within the year, the interest rate changes back to the account's standard rate of 0.75% gross AER.

Helen Cook, head of savings at Sainsbury's Finance, said: "We are delighted to be able to offer our customers yet another competitive offer with our Internet Saver account."

The Sainsbury's credit card currently offers 0% on purchases at Sainsbury's for the first 12 months after the account is opened and three months on all other shopping.

Sainsbury's typical rate is 16.9% APR.

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Credit Cards	0% Balance Transfers	0% Purchases	APR Representative (Variable)
	Tesco ClubCard Credit Card
	9 months	15 months	16.9^%
16.9% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.9% p.a(variable).
	Virgin Credit Card
	20 months	3 months	16.8^%
16.8% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.8% p.a(variable).
	Barclaycard Platinum with BT
	22 months	3 months	17.5^%
17.5% APR representative (variable). Based on a credit limit of 1200 and purchase rate 17.5% p.a(variable).
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