More personal loan rate cuts from Sainsbury's

Tue, 08 Nov 2005

Following Sainsbury's Bank's autumn sale on personal loans, it has once again announced an interest rate reduction.

Online applicants for personal loans of £5,000 or more will now start with a personal loan rate of 6.1 per cent APR typical.

This personal loan rate, available online until the end of the year, is 0.2 per cent lower than the personal loan rate offered in the recent sale.

Customers hoping to take out a personal loan will get an immediate decision when they apply online. If approved, they will receive a cheque for the full personal loan amount delivered to their door within 24 hours.

The personal loan provider is committed to offering "consistently competitive" personal loan rates, Sainsbury's Bank's loans manager, Rachel Brereton, says.

"The new rate is perfect for anyone planning a holiday or looking to make a few special purchases for Christmas," she adds.

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.

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