Sainsbury's Bank has reviewed its personal loan rates and made a slight increase to selected tiers. However, its Standard Nectar Cardholder Loan has retained its competitive edge and maintained a place in the Moneyfacts charts.
A Standard Nectar Cardholder Loan for £7,500 to £15,000 over a term of four to five years now has a competitive rate of 4.0% APR, allowing it to sit just below the current market-leader in this sector.
A version of the loan is also available to non-Nectar cardholders.
Example monthly repayments: £5,000 loan over three years = £150.25.
All applicants must be at least 18 years old and a Nectar Card must also be held. The Standard Cardholder Loan comes with the added bonus of a Price Promise Guarantee, which pledges to beat any 'like for like' deal.
Borrowers should remember that all rates depend upon their credit rating, loan amount and the term chosen.
Despite the slight increase in rate, this loan offers competitive rates across all tiers, with the £7,500 to £15,000 tier being particularly competitive. As a result, borrowers with a Nectar Card are likely to still find the loan appealing, especially given the Price Promise Guarantee.
The highest accolade of five Moneyfacts Stars has been awarded.
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 Any products featured may be withdrawn by their provider or changed at any time.
Moneyfacts.co.uk will, like most other websites, place cookies onto your computer’s
hard drive. This includes tracking cookies.