M&S Money offers 25% cashback reward on personal loans

M&S Money is offering a 25% cashback reward to customers who take out a personal loan until 29th October 2008.

The offer is available on all personal loans taken out over 36 months or more, giving customers a refund of 25% of the interest they have paid once their final repayment has been made.

When the cashback reward is taken into account, the typical rate of 9.9% APR on a £10,000 loan over a 36 month period is equivalent to a rate 7.7% p.a.

The offer is also available with M&S Car Buying Plan which allows customers to defer a fixed percentage of their loan, giving them the following options at the end of the term:

Keep the car and carry on making monthly payments until the whole of the loan is repaid
Keep the car and pay off the remainder of the loan with a lump sum
Sell the car and use the money to pay off the remainder of the loan