Sainsbury's Finance reveals new personal loan rate
A new personal loan rate has been announced by Sainsbury's Finance for customers who borrow between £7,500 and £14,999.
The bank said it has cut its standard interest rate to a best buy of 6.1 per cent APR representative for people applying with a Nectar card via the website or an aggregator site.
There are also more benefits on offer for people taking out the Shopper Reward Loan of between £7,500 and £15,000, as each applicant will receive a £100 Sainsbury's gift card and double Nectar points for two years.
Sainsbury's Steven Baillie said: "We continually offer competitive rates for our customers and reward them for their custom, so the new rate is great news for Sainsbury's shoppers."
He also pointed out that the Shopper Reward Loan's benefits can make a real difference to the total repayment.
Sainsbury's said last week that it believes its package of rewards is the best on the market and could see customers reduce their repayment on the loan by up to £204 if they spend £100 a week.
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