Sainsbury's offers reduced personal loan rate

Sainsbury's Finance is offering its shoppers a reduced personal loan rate of 7.9% APR Typical and double Nectar points on their shopping for two years when applying with a Nectar card between 29th December 2009 and 28th February 2010. The special offer is available for loans of between £7,500 and £15,000 and is available through all channels except aggregator sites.

According to MoneyExpert.com the average rate on non-secured personal loans between £7,500 and £15,000 is currently 10.3%. Sainsbury's Finance is over 20% less than the average.

Sainsbury's shoppers taking advantage of the offer will be rewarded with double Nectar points on their shopping in store, online and in petrol filling stations for two years when taking out a loan from Sainsbury's Finance. For example, customers who spend £50 a week with Sainsbury's and have a Sainsbury's personal loan as well as a Nectar card would receive £52 worth of Nectar points a year.

Steven Baillie, Head of Loans, Sainsbury's Finance, said: "We're always looking for ways to reward our customers and with this offer we're giving the Sainsbury's shopper a rate that is the best in the market and offering them fantastic rewards on their shopping at the same time.

"All of our loans customers enjoy one of the most competitive rates available, but those shopping at Sainsbury's can now take advantage of an even better deal and get rewarded for it in the process."

For further information, visit sainsburysfinance.co.uk