Sainsbury's Bank has said that it will extended its promise to offer higher interest rates to savers than the market average until at least 2010.
To help encourage consumers to return to the savings habit, the supermarket bank increased its original five-year savings promise for two more years, letting customers receive above market average rates of interest on its Instant Access Saver and Direct Saver accounts until the end of 2010.
"We believe that accounts like ours which promise to pay consistently fair rates will help to restore people's faith in saving and with SaveBack available with our Instant Access Saver, getting back into the savings habit has never been more convenient," said Donald Jarvie, savings manager, Sainsbury's Bank.
"We urge savers to keep a closer eye on the rates of interest they are receiving, and if these are not consistently attractive, they should be prepared to switch providers," he added.To read more about individual savings accounts, click here.
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