Sainsbury's Bank has joined the ranks of other lenders to offer significant reductions on selected loans, with mid-tier rates falling by as much as 0.3% APR.
Those looking to borrow anywhere from £5,000 to £15,000 will have seen rates cut by 0.3%, with the lowest rate of 3.9% APR being applicable to a Standard Nectar Cardholder Loan of £7,500 to £15,000 over one to three years.
Customers looking for other mid-tier borrowing amounts, or a Reward Nectar Cardholder Loan, can enjoy similar reductions.
Example repayments: £5,000 over three years = £150.25 per month
Rates are only available to Nectar cardholders who apply online or by phone, but they'll need to act quick – some of these rates are only available until 3pm on 22 July.
Borrowers should also bear in mind that rates are representative and dependent on an individual's credit rating and the amount and term of loan.
These reductions have rocketed Sainsbury's to the very top of the Moneyfacts best buy charts, boasting the lowest mid-tier rates currently available.
The highest accolade of five Moneyfacts Stars has been awarded.
Try our 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 Any products featured may be withdrawn by their provider or changed at any time.
Moneyfacts.co.uk will, like most other websites, place cookies onto your computer’s
hard drive. This includes tracking cookies.