Nectar Card holders offered 7.9% personal loan

| April 6, 2009 | 0 Comments
Nectar Card holders offered 7.9% personal loan

Supermarket bank Sainsbury’s Finance is offering loyal customers a lower rate of interest on personal loans.

Holders of the Sainsbury’s Nectar loyalty card are now being offered a typical APR of 7.9% for loans between £5,000 and £15,000, if they apply online.

This is compared to a rate of 8.1% for non-Nectar card holders.

However, anyone looking to take advantage of the lower rate can apply for a Nectar card, making them eligible.

Customers who apply for a loan find out instantly whether their application is successful, and the money is paid into their account within 24 hours.

The new Nectar Card rate is currently the second best deal available on personal loans.

Steven Baillie, Sainsbury’s Finance head of loans, said: “We’re constantly looking for ways to reward our customers and with this offer, we’re giving the Sainsbury’s shopper a preferential rate, enabling even more people to enjoy the benefit of banking, as well as shopping with us.”

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