Sainsbury’s Bank cuts online loan rate

Sainsbury’s Bank, has cut its loan rates for any online applications of £7,500 or more (up to £25,000) to 6.5% APR typical. This is affective immediately.

In addition to some of the most competitive rates in the marketplace, customers taking out a Sainsbury’s Bank loan can choose to make no repayments for the first three months, receive an instant decision and have their cheque delivered to their door within 24 hours.

Steven Baillie, Loans Manager, Sainsbury’s Bank, said: “Our new rate, which is one of the lowest around, should be helpful to those looking to carry out any home improvements this summer or those planning to order a new car and highlights our commitment to continually offer competitive rates to our customers.”