Sainsbury's Bank has announced it is to cut its loan rate for internet applications.
The new loan rate for internet applications for personal loans of £5,000 or more would be lowered to 6.5 per cent APR from 6.9 per cent APR typical.
The new loan rate is set to come into effect at 10:00 on Thursday, June 23rd, and the lower loan rate would be available for the whole summer.
Those taking out these personal loans could also opt to not make any repayments for the first three months of the lifetime of the personal loan.
Sainsbury's undertakes to make a quick decision on personal loans applications, and have personal loan money paid out quickly.
Personal loans manager at Sainsbury's Bank, Rachel Brereton said customers could benefit from convenience and great loan rates by visiting their website.
She added that this personal loan is particularly ideal for people wanting to pay for a holiday, purchase a car or make some home improvements.
Sainsbury's Bank has been named as the "Best Overall Provider" for the second successive year in the 2004 Your Money Direct Awards.
Sainsbury's Bank opened in 1997 as a joint venture with Halifax Bank of Scotland.
The bank has a range of available financial services, including insurance, loans, credit cards and savings accounts.
Loan rate cut for personal loans at Sainsbury's
Loan rate cut for personal loans at Sainsbury's
Mon, 20 Jun 2005
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