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M&S Money reduces personal loan rate

5th January 2011 Print

M&S Money is reducing the rate on its personal loans from 9.9% APR to 7.5% APR (typical). The offer is available from 6th January 2011 and applies to personal loans between £7,500 and £15,000.

Loans are available between £1,000 and £25,000 with flexible repayment terms over 12 to 84 months. Customers have the option of making no repayments for the first three months, subject to lending criteria.

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