Rate reductions have resulted in Sainsbury's Bank retaining its position at the top of the best buy tables for medium and large lending.
The Sainsbury's Bank Standard Nectar Cardholder Loan offers customers borrowing between £7,500 and £15,000 a rate of 5.6% for between one to three years, and 5.7% for the same borrowing tier over four to five years.
Borrowers looking for larger loans between £15,001 and £25,000 are offered 7.4% over two to three years, whilst 7.5% is offered over a longer term of four to seven years.
The finer details….
A typical monthly repayment, based on a £5,000 loan over three years, would be £154.11. Customers must be aware that rates are representative and dependent on credit rating and amount and term of loan.
Why we like it…
Sainsbury's Bank offers highly competitive loan rates to customers looking for medium to large-sized loans. Five out of five Moneyfacts stars have been awarded.
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