Sainsbury's Bank has reduced the rate on it Standard Nectar Cardholder Loan for all borrowing between £5,000 and £7,499.
Standard Nectar Cardholders borrowing between £5,000 and £7,499 will be offered a rate of 6.8% APR over one to three years or four to five years.
A typical monthly repayment for a £5,000 loan over a three-year period would be £155.40.
Rates are representative and dependent on credit rating and amount and term of loan.
Asserting its place in the personal loan best buy tables, this latest rate reduction will appeal to customers borrowing medium amounts of money. Four out of five Moneyfacts Stars have been awarded.
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