Sainsbury's Bank has reduced rates on its Standard Nectar Cardholder loans by up to 0.3% for medium to large borrowing.
The Standard Nectar Cardholder loan offers a rate of 6.9% APR for borrowing between £5,000 and £7,499 over one to three years, 7.0% APR between £5,000 and £7,499 over four years and five years and 5.1% APR for lending between £7,500 and £15,000 over one year to three years.
A rate of 5.2% APR will apply for borrowing between £7,500 and £15,000 over a four to five year period, with 7.3% APR offered to customers looking to borrow between £15,001 and £25,000 over two to three years. A rate of 7.4% is offered for loans between £15,001 and £25,000 over a four to seven year term.
The Reward Nectar Cardholder loan offers a rate of 5.5% APR for borrowing between £7,500 and £15,000 over a one to three year term, whilst those looking for loans between £7,500 and £15,000 are offered a rate of 5.6% APR over four to five years.
A typical monthly repayment for a £5,000 loan over a three year term is £153.68.
All rates are representative and are dependent on an individual's credit rating and the loan amount and term.
Sainsbury's Bank has reasserted its position in the personal loan market by offering highly competitive rates to customers with a variety of borrowing needs. Five out of five Moneyfacts stars have been awarded.
Find out how much a Sainsbury's Loan could cost you each month with our handy loans calculator.
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 Any products featured may be withdrawn by their provider or changed at any time.
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