If you are looking to secure a personal loan before Christmas, you only have one week left to take advantage of the reduced rate being offered by Sainsburys finance. The banking arm of the supermarket giant are offering a personal loan until November 21st at a reduced rate of 6.2% APR representative on loans of between £7500-£15000.
To be eligible for the deal customers must be Nectar card holders and the card number must be supplied in the loan application, which is payable directly by bank transfer.
The head of loans at Sainsburys finance is Steven Baillie, and he says that they are pleased to be able their customers such a competitive rate and customers need to be quick to take advantage of this leading market rate.
Customers who have a loan from Sainsbury’s Finance will also benefit from a tailored repayment period of from one to five years, as well as having fixed repayments for the whole duration of the loan. In 1997 Sainsbury’s were the first of the major British supermarkets to open a bank, and currently offer a range of products that include credit cards, insurance, loans and savings.
The company also recently won awards at the ‘Your Money Awards’ 2011 for being the Best Online Personal Loan Provider and the Best Overall Online Provider. Sainsbury’s have also recently launched their new Nectar Credit Card which has a rate of 6.9% APR.
The new card was announced last month and is only available to Nectar card holders.
There is a no fee balance transfer and, according to the company, is the lowest rate available on any card currently on the market.