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Sainsbury’s Bank loan APR reduced

Sainsbury’s Bank loan APR reduced

Category: Loans
Date: 09/05/2017

Sainsbury's Bank has decreased the APR on loans of between £5,000 and £7,499, now offering the lowest rate for this tier and easily securing its status as a Best Buy as well as our highest rating.

The basics…

A personal Standard Nectar Cardholder Loan of £5,000 to £7,499 over a term of one to three years now has a market-leading APR of 3.5%. No other tiers or terms have been changed.

The finer details…

Example monthly repayments: £5,000 over three years for a standard Nectar loan = £146.39.

Applications can be made online or over the phone. Borrowers must be at least 18 years old to apply, with a minimum gross household income of £7,500 per year, and must be Nectar cardholders to be eligible. They should remember that rates are representative and dependent on their credit rating.

As an added bonus, Sainsbury's Bank offers a price promise guarantee to beat any like-for-like loan (terms and conditions apply).

Why we like it…

This market-leading personal loan comfortably manages to keep its place in the Best Buys, easily earning our highest rating in the process.

Moneyfacts rating: Outstanding

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 Any products featured may be withdrawn by their provider or changed at any time.

 

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 Any products featured may be withdrawn by their provider or changed at any time.

 
 
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