M&S Money offers 10% cashback reward on personal loans

M&S Money is offering a 10% cashback reward to customers who take out a personal loan between 24th June and 11th August 2009.

The offer is available on all personal loans taken out over 36 months or more, giving customers a refund of 10% 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 8.7% APR on a £10,000 loan over a 36 month period is equivalent to a rate 7.9% 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

To apply for an M&S personal loan or car buying plan, visit marksandspencer.com/loans