Sainsburys Finance reduces personal loan rate

Mon, 16 Jan 2012
 
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Good news for Sainsbury’s Finance customers – the lender has announced a new personal loan rate for customers looking to borrow between £7,500 and £14,999.

The bank’s standard interest rate on loans of this value has been cut to a best buy of 6.1 per cent APR for Nectar card customers who apply online (sainsburysbank.co.uk) or via an aggregator site.

In addition, borrowers who take out a Shopper Reward Loan of between £7,500 and £15,000 will also benefit from double Nectar points for two years and receive a Sainsbury's gift card worth £100.

Steven Baillie, head of loans at Sainsbury’s Finance, 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 added that the extra benefits attached to the Shopper Reward Loan can make a considerable difference to the total repayment.