Sainsbury’s Bank's five-star loan | Product News - Moneyfacts

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Sainsbury’s Bank's five-star loan

Sainsbury’s Bank's five-star loan

Category: Loans
Date: 16/06/2014

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 It is now over 6 months old so the content may be out of date.

Sainsbury's Bank has lowered the cost of mid-tier borrowing for both new and existing Nectar cardholder customers.

The basics…

Customers looking to borrow between £5,000 and £7,499 will now pay a joint market-leading rate of 5.4% APR for a Standard Nectar Cardholder Loan over one to three years, a reduction of 0.2%.

As an added bonus, it comes with a Price Promise Guarantee where Sainsbury's will beat any like-for-like loan (subject to terms and conditions).

The finer details…

Example repayments: £5,000 over three years = £150.46 per month.

Borrowers must remember that rates are representative and depend on an individual's credit rating.

This rate is only available to customers applying online or by telephone and they need to hold a Nectar card to qualify. They'll need to be quick too, as this rate is only available until 30.6.14.

Why we like it…

Sainsbury's Bank has confirmed its position as one of the most competitive loan providers with this market-leading rate.

The highest accolade of five Moneyfacts Stars has been awarded.

What Next?


Compare loan repayments and interest with our easy-to-use loan 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 Any products featured may be withdrawn by their provider or changed at any time.

 

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 Any products featured may be withdrawn by their provider or changed at any time.

 
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