Product focus: Personal loans - Loans - News - Moneyfacts

News

Product focus: Personal loans

Product focus: Personal loans

Category: Loans

Updated: 14/12/2012
First Published: 16/02/2011

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

When looking for an unsecured personal loan you can compare rates from banks, building societies and even supermarkets. While most lenders will advertise a representative rate, in many cases this is the rate applied when customers borrow larger sums of money. If you are looking for a smaller loan, you may find that the rate charged is higher. Just because a lender's larger loans are competitively priced, doesn't mean it will be competitive for smaller loans. Below is a selection of the most competitive loan deals for customers looking to borrow between £1,000 and £2,000.

Sainsbury's Finance

  • Sainsbury's Finance offers the lowest rate for smaller loans at 18.4% APR.
  • Customers borrowing £1,000 over one year would repay £91.23 per month and repay a total of £1,094.76.
  • Loans are available for terms between one and seven years and the APR charged will vary depending on the amount borrowed and the repayment term.
  • The loan is available to Nectar Card holders, but this can be applied for at the same time as the loan.

Santander

  • Customers borrowing between £1,000 and £2,950 are being offered a rate of 18.9% APR from Santander.
  • Customers borrowing £1,000 over one year would repay £91.41 per month and repay a total of £1,096.92.
  • Loans are available for terms between one and five years.
  • Customers can apply for the loan in branch, online or via the telephone.

Marks & Spencer Money

  • For loans between £1,000 and £2,999, Marks & Spencer Money is offering a rate of 19.9% APR.
  • Customers borrowing £1,000 over one year would repay £91.81 per month and repay a total of £1,101.72.
  • Loans are available for terms of between one and seven years.
  • Loans are available to customers aged 30 years and over or homeowners.

Find the best loan for you - compare loans

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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