Personal loan rates slashed at Sainsbury's

Financial Services > Personal Loans > News

Thu, 13 Oct 2005

People looking to find a personal loan could benefit from a cut in loan rates announced by Sainsbury's Bank.

Personal loans of Ł5,000 and more are now available at an interest rate of 6.3 per cent APR typical if customers apply for them online.

A personal loan taken out over a period of three years will cost Ł155 to repay, which is lower than a number of high street lenders, the bank pointed out.

Online applications for this personal loan receive an instant decision and once approved, will have their cheque delivered to their door within 24 hours.

Sainsbury's Bank is committed to offering consistently competitive rates, says the loans manager Rachel Brereton.

"This special offer is perfect for anyone looking to plan a winter break away or make a special purchase in the coming months."

The personal loan offer is available until November 8th. For the first three months, personal loan holders have the option to make no repayments.

Sainsbury's Bank has been named as the Best Overall Provider for the second successive year in the 2004 Your Money Direct Awards.

It 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.

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