Those needing some extra cash in the difficult economic climate may be interested in a new personal loan offer by Marks and Spencer, which gives customers money back at the end of repayments .
By taking up a personal loan of 36 months or more with the provider between June 24th and August 11th, customers will receive ten per cent of the interest they have paid back.
A typical rate of 8.7 per cent APR on a personal loan of £10,000 over 36 months will have the equivalent to a 7.9 per cent APR once the cashback is issued.
The deal can also be used in conjunction with Marks and Spencer's Car Buying Plan, which allows customers to either keep the motor at the end of the loan, paying back in monthly instalments or one lump sum, or to sell the vehicle and use the money to settle up the debt .
A recent survey of the market by Moneyfacts showed that 14 major providers of secured personal loans have ceased offering the service since mid-2007.
10 per cent personal loan cashback offered by Marks and Spencer
10 per cent personal loan cashback offered by Marks and Spencer
Tue, 23 Jun 2009
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