M&S give 10% cashback on loans

M&S Money reduces loan interest to market-leading rate

M&S Money could attract more customers on the lookout for a competitive personal loan deal after announcing it has cut its interest rates.
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Monday, 22 June 2009 12:00

M&S Money is offering ten per cent cashback to customers taking out a personal loan this summer.

The reward is being handed out to any customers taking out a personal loan with a repayment period of over 36 months.

The cashback, which will be equivalent to ten per cent of the interest paid, will be given by M&S Money once the customer has made their final repayment.

Typical loan rates being offered by M&S are currently 8.7 per cent on a £10,000 loan. It means, when the cashback reward is taken into account, the typical rate would be 7.9 per cent.

And M&S has announced the offer is also available to customers using its Car Buying Plan.

Both cashback offers are available to customers taking out loans between June 24th and August 11th 2009.