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M&S Money improves loan offering

M&S Money improves loan offering

Category: Loans

Updated: 14/12/2012
First Published: 02/03/2011

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 It is now over 6 months old so the content may be out of date.

Marks & Spencer Money has improved its rate. for personal loans across the popular £7,500 to £15,000 tier.

Loans of £7.5K to £15K will now be charged a typical APR of 6.9%, which is a reduction of 0.6%.

By reducing the rate across the £7,500 to £15,000 tier, M&S now offers the lowest rate available for these amounts.

Consumers do need to be over 30 or a homeowner to qualify for the product and must remember the rates quoted will be dependent on their credit rating.

Applicants have the option to defer payments for three months if necessary and the loan term can be as long as seven years.

A full quota of five out of five Moneyfacts stars has been awarded.

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