While living costs remain high, shoppers can knock sizeable sums off their food shop by investing in supermarket savings scheme this Christmas.
Savings schemes differ per supermarket, and some enable customers to claim a bonus of up to £50 – a much-welcomed saving with food price inflation currently in double digits.
The savings on the card, as well as the bonuses earned, must be spent in the respective supermarket. However, bonuses can expire, making it important to be aware of the dates and details to benefit.
While these schemes don’t offer the same protection as savings kept in a bank, people can minimise risks by making their investments a few days before the deadline and still enjoy the full bonuses available.
From Sainsbury’s to Iceland, here are some details of each of the five supermarkets running a Christmas savings scheme this year.
Sainsbury’s Christmas Club Card
The Sainsbury’s Christmas Club Card pays a £2.50 bonus for every £50 saved. The maximum bonus that can be earned is £25, and customers would have to deposit £500 to receive this.
To receive the cash bonus, savers will need to have a minimum of £50 on the card before November 1. The bonus will be added to the card by the end of November and the expiry date will be printed on the card.
The Christmas Club Card can be used in part or full payment in-store or online at Sainsbury’s and Argos.
Tesco’s Christmas Saver Scheme
Tesco’s Christmas Saver Scheme is part of its Clubcard programme and boosts savings by up to six percent of what’s disposited. The highest bonus available is £12.
Once opted in, people can top up their Christmas Saver account in-store. The amount paid in is then returned to as ‘top-up’ Tesco vouchers, along with a ‘bonus voucher’.
The amount a person gets depends on the amount they have saved. A breakdown of the tiered bonus rewards include:
- £1.5 bonus added to savings between £35 and £49
- £3 bonus added to savings between £50 and £99
- £6 bonus added to savings between £100 and £199
- £12 bonus added to savings between £200 and £360.
People must pay money in by October 28, 2023, to be eligible. The top-up vouchers are valid for two years from the date of issue, and the bonus vouchers are valid for two months.
Asda’s Christmas Savings Card
Asda’s Christmas Savings Card also awards customers with tiered bonuses depending on how much they save.
The maximum bonus is £15, and this is applied to savings of over £280 in the account. A breakdown of the complete tiered bonus rewards includes:
- £1 bonus added to savings between £30 and £79
- £3 bonus added to savings between £80 and £129
- £6 bonus added to savings between £130 and £179
- £9 bonus added to savings between £180 and £229
- £12 bonus added to savings between £230 and £279
- £15 bonus added to savings of £280 and more.
This year, the bonus cut-off date is 5pm on November 12. According to Asda, the bonus will be applied by 9am on November 13. The bonus will expire two years from the date of the person’s last transaction.
People can register for as many cards as they like, meaning even more savings can be made for those spending heavily in Asda.
Co-op Christmas Savings Stamps Scheme
The Co-op’s store-only Savings Stamps Scheme awards customers with a £2 bonus for every £48 saved.
To qualify, customers need to pick up a stamp book from their local store, which they’ll need to fill. Each stamp costs £1 and a total of 48 are needed to complete the book. This means customers will spend £48 in total, which can then be used for a future shop and with the £2 bonus, it’ll equate to £50 off.
The scheme runs all year round so customers can start saving at any point, however, the bonus can only be spent in December.
Iceland’s Christmas Savings Club
Iceland’s Bonus Card awards customers a £1 bonus when £20 is added to the card. This scheme runs all year round, with no specific deadline to receive the bonus; instead, the £1 is automatically credited whenever £20 is deposited into the account.
Savers have the opportunity to increase their savings further by depositing £100 or more onto the card by Friday, November 3rd, receiving an additional £15 on top. This will be paid by November 24.
The maximum bonus that can be earned with this card is £50 and there is no expiry date. People can also enjoy exclusive ‘Bonus Card prices’ in-store, meaning more savings can be made.
