Sainsbury’s Bank launches into larger loans market

One of the most consistently competitive personal loans providers, Sainsbury’s Bank has launched into the larger loans market.

Increasing the maximum limit from £25,000 to £35,000 on its personal loans, Sainsbury’s Bank is the only provider to offer loans of this value to both new and existing customers.

The supermarket bank is offering a headline rate of 6.9% APR Representative with repayment terms of up to five years.

Simon Ranson, Head of Banking at Sainsbury’s Bank said: ”Our new loan limit offers greater choice and flexibility to those considering making a significant investment or purchase, such as home reconfigurations and renovations like an extension.”

Taking out a loan, of any amount, is a big commitment for consumers as the monthly repayments remain the same until it is repaid. It is essential that consumers ensure that loan payments fit within their monthly budget, even if their circumstances change.

For more information on Sainsbury’s Bank Loans, visit sainsburysbank.co.uk/loans or pick up a leaflet instore at Sainsbury’s.