Interest is calculated on a daily basis and paid into your account on the first day of the month. You’ll be able to see and access the interest in your account on the following day.

You can find more details about the introductory bonus interest rate in the Additional information section below.

The bonus rate is fixed during the 12 month offer period. The standard rate is variable and may go up or down. There are a few reasons for this, such as a change in the Bank of England base rate. You can find a full list of reasons for an interest rate change in section 10.1 of the terms and conditions.

We’ll give you at least 14 days’ notice if the rates are going down and your balance is £100 or more. Otherwise, we’ll tell you before or shortly after the change.

You can find more details about how we’d tell you about a change in section 10.2 of the terms and conditions.

The following example shows how much you may be able to save:

This is only an illustration of what you could save and assumes that no more deposits or withdrawals are made, that there aren’t any changes to interest rates or tiers, and any interest earned stays in the account.

To be eligible for this account, you must:

• Have a valid Nectar card number
   
• Be a UK resident with a UK address
   
• Be aged 18 or over
   
• Have a UK mobile number
   
• Have UK tax residency only
   
• Have an open UK personal account that can be used as a nominated account
   
• Have a valid driving license or passport
   
• Have a smartphone or tablet to verify your ID

Accounts are available for new applications only. You can apply to open an account by going to the ‘Apply now’ section. Make sure you take a look through all of the important legal information  before you start your application

If you need to manage your account, you can do this by contacting us online, via email or by telephone.

Payments in and out can only be made to and from your nominated account.

You can only have one Sainsbury's Instant Access Saver Nectar Rate Account and it needs to be in your name. Joint accounts aren’t allowed.

The maximum balance that can be held within this account is £1,000,000.

The minimum balance that can be held within this account is £0.  

Yes, you can withdraw money at any time. Just move the amount you want to your nominated account from your Instant Access Saver account.

You can only withdraw up to £10,000 from your account each transaction, and £20,000 over a rolling 24 hour period.

If you close your nominated account, you’ll need to set up a new nominated account to withdraw money.

The bonus interest rate will be added to the standard variable rate from the date your account is opened. This will apply for 12 months. After 12 months, the bonus rate will end and only the standard variable rate will apply.

To be eligible for an Instant Access Saver account you’ll need to:

• Have a valid Nectar card number
   
• Be a UK resident with a UK address
   
• Be aged 18 or over
   
• Have a UK mobile number
   
• Have UK tax residency only
   
• Have an open UK personal account that can be used as a nominated account
   
• Have a valid driving license or passport
   
• Have a smartphone or tablet to verify your ID

Available to sole and new applicants only.

Product terms and conditions [PDF 529 KB]

FSCS information sheet  [PDF 71 KB]

Privacy policy

NatWest Boxed privacy notice [PDF 304 KB]

Annual Equivalent Rate (AER)

The interest rate if interest is paid and compounded once each year. AER helps you to compare the rates of interest on different accounts.

Compound interest

Interest earned on interest that’s already been paid.

Gross rate

The interest rate you are paid on your savings with no compounding.

p.a.  

Per annum (per year)

Tax-free  

We pay all savings interest without the deduction of tax. You may have to pay tax on interest earned depending on your Personal Savings Allowance. The tax treatment may be subject to change in the future.