Sainsbury's Bank has lowered the cost of mid-tier borrowing for both new and existing Nectar cardholder customers.
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).
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.
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.
Compare loan repayments and interest with our easy-to-use loan calculator
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