Sainsbury’s online loan sale ends | Product News - Moneyfacts

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Sainsbury’s online loan sale ends

Sainsbury’s online loan sale ends

Category: Loans
Date: 27/09/2013

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 It is now over 6 months old so the content may be out of date.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's online sale for personal loans between £7,500 and £15,000 has now ended, which means the rate has increased by up to 0.2%. However, the bank has now cut rates on larger borrowing amounts.

The basics…

For online and telephone loans between £7,500 and £15,000, borrowers will now be charged an increased rate of 4.9% APR if repaying over one to three years.

Borrowers taking this loan over four to five years, meanwhile, will be charged 5.1% APR, while repayments over six to seven years will incur an APR of 7.1%.

For loans between £15,001 and £25,000 over two to three years, borrowers will be charged a reduced rate of 6.8% APR. If repaying over four to five years, borrowers will pay 6.9% APR.

The finer details…

All products are only available to Sainsbury's shoppers who hold a Nectar card that has been used with Sainsbury's in the last six months.

Why we like it…

Although the online loan sale has ended, resulting in slightly higher rates, this loan is still highly competitive. Borrowers will also benefit from the rate cuts at higher amounts.

Four Moneyfacts Stars have been awarded.

What Next?

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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