£60m worth of loans taken out for dental treatments

Around 6,900 personal loans worth an estimated £60.2 million have been taken out either wholly or partially to fund dental surgery in the UK since the beginning of 2007, according to Sainsbury's Finance. Some 2,450 of these loans worth around £15.9 million have been taken out entirely for dental treatments, and 4,450 of them worth £44.3 million have been taken out to be used partially to fund dental procedures.

The average size of a personal loan taken out solely for dental treatment is £6,492, approximately the cost of two dental implants, two dental crowns and a teeth whitening treatment at a mid-range cosmetic dental practice.

In 2007, Sainsbury's estimates that £21.3 million of loans were taken out either wholly or partially for dental surgery, which increased to £32.2 million in 2008. So far in 2009, an estimated £6.8 million has been taken out for this purpose (up to the end of April).

Steven Baillie, Head of Loans at Sainsbury's said: "Some dental treatments can cost a lot more than many people have in readily available funds, which is why loans have for some time been a popular way to finance treatments and spread the cost. If you decide that a loan is the best way to pay for expensive dental procedures, make sure you shop around to get the best rate and payment term as it could save you a considerable amount in repayments."

Sainsbury's Finance is currently offering a personal loan rate of 7.9% APR Typical to Sainsbury's shoppers applying online with a Nectar card for loans of between £5,000 and £15,000.

Customers taking out a Sainsbury's 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.

Sainsbury's Finance offers competitive loan rates and customers benefit from:

A personally tailored repayment period, from one to seven years
Fixed repayments for the whole period of the loan
An instant personal loan decision
The money in 24 hours

For more information on Sainsbury's loans or its competitive car insurance, visit sainsburysbank.co.uk