Sainsbury's Finance cuts personal loan rate for limited period

Tuesday, 30 August 2011 01:43

Sainsbury's Finance is offering a personal loan rate of 6.3 per cent APR on loans of between £7,500 and £14,999 for a limited time only.

The deal - for which applications run out on September 23rd - is available to Sainsbury's shoppers applying with a Nectar card via Sainsbury's Finance's website and a number of aggregator sites.

It also has no set-up fees, tailored repayment plans lasting between one and seven years, fixed repayments for the whole loan period and an instant yes or no, with funds transferred immediately.

Steven Baillie, head of loans at Sainsbury's Finance said: "We're committed to offering our customers competitive rates so the new rate is great news for Sainsbury's shoppers whether they're taking a loan for a new car, home improvements or a simply bringing outstanding debts under control."

It comes after Nationwide Building Society and M&S Money also cut their rates on the same loan values to 6.3 per cent and 6.4 per cent respectively.

Use the Myfinances.co.uk comparison tables to find the best deal on a personal loan

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