Savings Accounts Have More Restrictions And Conditions

Published: 7/4/2010

A Sainsburys Bank spokesman feels that there are more restrictions and conditions applied to savings accounts than ever before.

Having looked at the current state of the market the Sainsburys Bank spokesman has noticed how many savings accounts have restrictions on withdrawal amounts and periods, as well as how it impacts on interest rates, with some quite hefty penalties on some for making withdrawals during the year.

Another aspect that has been noted is the use of age limits on some savings accounts, targeting either the younger or older market. Ideally all categories of customer should be able to enjoy similar levels of interest and benefits believes the Sainsburys Bank spokesman.