Sainsbury’s Finance has cut its best personal loan rate to a typical 7.2% APR for loans of between £7,500 and £14,999.
There’s also an added bonus for Sainsbury’s customers who use a Nectar loyalty card. They’ll get double points for the first two years of their loan when they shop with Sainsbury’s, either online, in-store or at a petrol station.
Someone with a Sainsbury’s Finance loan and a Nectar card who spends £50 a week in Sainsbury’s would build up £52 a year in Nectar points. Nectar points can be spent on Sainsbury’s goods as well as other brands. Nectar card holders normally get two points per £1 spent with Sainsbury’s and a point for each bag re-used.
Sainsbury’s Finance loans can be applied for via the Sainsbury’s Finance website and a number of other loan aggregation sites. Repayment plans are tailored so that fixed payments are spread over one to seven years. An instant decision will be made on applications and the money is deposited straight into successful applicants’ bank accounts.
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 good news for Sainsbury's shoppers."
