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Sainsbury’s Finance cuts loan rate

Sainsbury’s Finance cuts loan rate

Category: Loans

Updated: 07/01/2011
First Published: 08/09/2010

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 It is now over 6 months old so the content may be out of date.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 Finance has cut the rates it charges for certain loans.

The APR charged on loans between £7,500 and £14,999 taken by Nectar Card holders has fallen to 7.4% APR typical.

It appears that the loans market is becoming more competitive after the recent belt tightening period by lenders.

Five out of five Moneyfacts stars have been awarded.

Sainsbury's Finance – Nectar Card Holder Personal Loan

  • Sainsbury's Finance is offering loans to customers looking to borrow between £1,000 and £25,000.
  • Rates of between 7.4% and 18.7% APR typical are charged. Rates will vary depending on the amount borrowed and the term chosen to repay the debt.
  • 7.4% APR typical on loans from £7,500 to £14,999.
  • Customers borrowing £7,500 over 5 years would repay £149.93 per month. Borrowers can opt to defer the first repayment for two months.
  • The loan is available to Sainsbury's shoppers with a Nectar card* only, but this can be applied for at the same time.
  • Loans are available to customers aged 18 years and over.

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