This comparison simply includes all savings accounts.
Sainsbury's Current Account
Why we like it: Unlimited deposits and withdrawals. Interest paid monthly: can be added to your Notice Saver or paid to your linked account. Easy application process, you just need a UK mobile phone and UK driving licence or passport. Manage account online. Maximum balance £250,000. Withdrawals subject to 90 days notice. Must be aged 18 or older and have a UK address. Must have a linked UK current account
Why we like it: MARKET LEADING INSTANT ACCESS ACCOUNT. Unlimited payments and withdrawals. Interest paid annually. Open in a single or a joint name. Maximum deposit £250,000. FSCS Protected. Winner of Platinum Feefo Trusted Service Award in 2021. Must be UK resident and be aged 18 or older
Why we like it: Interest paid annually. Unlimited deposits and withdrawals. Open and manage online. FSCS Protected. Must be UK resident and be aged 18 or older
Why we like it: Easy access savings account that tracks the Bank of England base rate. Wave goodbye to the constant cycle of account hopping and forget waiting for banks to pass on higher interest rates. Interest rate moves with the Bank of England base rate, guaranteeing a fixed margin of up to 0.5% below, and adjusts the very next day. Easy access to your money with once a month withdrawals, without notice and without fees. Earn daily interest on your money, and experience the power of compounding to make your savings work harder. Maximum deposit £250,000. Wombat has partnered with GB Bank to bring you the Base Rate Tracker. GB Bank is an award-winning, fully authorised and regulated UK bank. FSCS eligible on your deposits. Must be UK resident. Must be aged 18 or older
Why we like it: A new savings account from Chip built to move with the Bank of England and reward you faster than the banks. Interest paid monthly. Deposit and withdraw almost instantly. No fees or charges for holding account. FSCS eligible on your deposits. Must be UK resident. Must be aged 18 or older.
Why we like it: Tiered interest: £1 to £10,000 – 4.80% Gross/AER, £10,001 to £50,000 – 4.80% Gross/AER, £50,001 to £500,000 – 4.80% Gross/AER. Unlimited payments and withdrawals. Interest paid annually. Open in a single or a joint name. Maximum deposit £500,000. Open and manage account online. FSCS Protected. Must be UK resident. Must be aged 16 or older
Why we like it: Choose monthly or annual interest payments. Unlimited deposits and withdrawals. 24/7 access to your savings. Open and manage online. After 12 months the rate will revert to the underlying rate, currently 1.55% gross/AER variable. Post Office Online Saver is provided by Bank of Ireland UK. Must be UK resident. Must be aged 18 or older. FSCS protected
Why we like it: Which? Recommended Savings Provider. No notice period. Deposit from £100. Interest paid monthly or annually. Apply in minutes. Your eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the Financial Services. Compensation Scheme (FSCS)
Why we like it: Instant access to your savings. Unlimited deposits and withdrawals. Interest paid monthly, either to a linked current account, or adding it to your Online Flexi Saver account. Easy application process, you just need a UK mobile phone and UK driving licence or passport. Manage account online. Maximum balance £250,000. Must be aged 18 or older and have a UK address. Must have a linked UK current account. Your eligible deposits with Investec Bank are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS)
Why we like it: Interest paid monthly or annually. Open in a single or joint name. Unlimited deposits and withdrawals. Covered by the FSCS. Must be UK resident. Must be aged 16 or older
Why we like it: All funds deposited into the RCI Bank E-Volve Savings 14 Day Notice Account will be used to fund pure electric vehicles and charging facilities. Interest paid monthly or annually. Manage account online. UK-based support, seven days a week. Which? Recommended Savings Provider. Unlimited withdrawals subject to 14 days notice. Must be UK resident. Must be aged 18 or older. Your eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS)
Why we like it: MARKET LEADING 6 MONTH FIXED RATE BOND. Interest paid at maturity. Open in a single or a joint name. Maximum deposit £250,000. FSCS Protected. Winner of Platinum Feefo Trusted Service Award in 2021. Must be UK resident and be aged 18 or older. No withdrawals permitted
Sainsbury’s current account review
Sainsbury’s used to offer a current account known as an Everyday Account, however these are no longer available and have not been replaced. This means Sainsbury’s does not offer current accounts at the moment.
Sainsbury’s does offer credit cards and a range of savings accounts, which may be of interest, but if you are specifically looking for a current account, you will need to compare what is on offer from other providers.
Switching a Sainsbury’s current account
If you are looking to change your current account to a new provider, you should familiarise yourself with the Current Account Switch Service. This offers a free, fast and simple way to switch your current account to a new provider.
When you want to move your account, you simply inform your new bank or building society that you wish to use the Current Account Switch Service to transfer your old account to them. Your new provider will then do the rest, using the service to transfer your balance and all payments in and out of your old account to your new account.
This makes switching your account quick and convenient and means you don’t risk missing a payment to you or from you to someone else. The Current Account Switch Service is supported by over 40 UK banks and building societies and covers 99% of all UK current accounts.
Compare Sainsbury’s current accounts to other market leaders
If you want to find a new current account to get a better interest rate or improved benefits compared to your existing account, it makes sense to compare the broadest range of accounts possible.
Our current account comparison table at the top of the page makes it fast and easy to look at leading current accounts from all the top providers. That way you can make an informed choice and get the best deal for you.
The following three accounts offer some of the most attractive interest rates on the market:
Santander 123 current account
Interest rate: 1.50% AER/1.49% gross (variable) on balances up to £20,000.
Account fee: £5 per month.
Other benefits: Earn 1-3% cashback on a variety of household bills. This includes payments on a Santander mortgage or insurance policy. To qualify for cashback, you must deposit at least £500 a month into the account and have two active Direct Debits.
TSB Classic Plus account
Interest rate: 3% AER paid monthly on a balance of up to £1,500.
Account fee: None, but you must pay in at least £500 a month to earn interest.
Other benefits: Earn £5 cashback each month if you have at least two Direct Debits from the account, plus another £5 a month when you use your debit card at least 20 times.
Nationwide FlexDirect current account
Interest rate: 5% AER (4.89% gross p.a.) interest on balances up to £2,500 (for the first 12 months) 1% gross p.a./AER (variable) interest after this.
Account fee: No account fee, but you must deposit a minimum of £1,000 a month to earn interest.
Other benefits: Customers over the age of 18 can get a fee-free overdraft for 12 months (subject to approval).
