Product focus: Personal loans - Loans - News - Moneyfacts


Product focus: Personal loans

Product focus: Personal loans

Category: Loans

Updated: 31/12/2010
First Published: 23/12/2010

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 It is now over 6 months old so the content may be out of date.

Many of the high street banks have moved to offering personal pricing on loans. No rates are advertised and customers have to complete the application before they know the rate they will be offered. While this may mean they are more likely to be accepted, it makes it harder to shop around for a better deal. Customers wishing to shop around might like to consider the following providers.

Tesco Bank – Personal Loan

  • Tesco is offering loans to customers looking to borrow between £3,000 and £25,000.
  • Rates vary between 7.6% and 15.9% typical APR, depending on the amount borrowed.
  • A great 7.6% APR Typical rate, on loans from £7,500 to £14,999.
  • Customers borrowing £7,500 over 5 years would repay £150.64 per month. A deferment option is available allowing borrowers the opportunity to delay making repayments for up to three months.
  • Loans are available to customers aged between 18 and 74 years old.

Apply for a Tesco Loan Online

Sainsbury's Finance – Nectar Card Holder Personal Loan

  • Sainsbury's Finance is offering loans to customers looking to borrow between £1,000 and £25,000.
  • Rates of between 7.4% and 18.7% APR typical are charged. Rates will vary depending on the amount borrowed and the term chosen to repay the debt.
  • 7.4% APR typical on loans from £7,500 to £14,999.
  • Customers borrowing £7,500 over 5 years would repay £149.93 per month. Borrowers can opt to defer the first repayment for two months.
  • The loan is available to Sainsbury's shoppers with a Nectar card* only, but this can be applied for at the same time.
  • Loans are available to customers aged 18 years and over.

Apply for a Sainsbury's Loan Online

Post Office – Online Personal Loan

  • Customers wishing to apply online could consider the Post Office.
  • Loans between £2,000 and £4,999 are charged at 13.9%, while loans between £5,000 and £25,000 are charged at 8.9%.
  • Rates are fixed, so, if accepted, customers can be sure of the rate they will be charged.
  • Customers borrowing £7,500 over five years would repay £154.04 per month.
  • Loans are available to customers aged 21 years and over.

Find the best loan for you - compare loans

Work out your loan repayments using our loan calculator - simply enter the amount you are looking to borrow, the Typical APR of the loan you have seen i.e. 7.4% and the length of time you wish to repay the loan over. Our calculator will work out your monthly loan repayment and how much the total amount repayable will be.

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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