Sainsbury’s has reclaimed the the top spot in the Which? Best Rate personal loans table, charging Nectar cardholders an APR of just 7.2% APR (typical) on loans between £7,500 and £14,999.
Following the recent introduction of very competitive personal loan deals by Tesco Bank and Marks & Spencer (M&S), Sainsbury’s Finance has cut the rate on its own loans by 0.2%, down to 7.2% for medium-sized loans.
A £10,000 personal loan repaid over five years will cost you 7.2% APR with Sainsbury’s, compared to 7.3% with Tesco and 7.5% with M&S. This equates to 60 repayments of around £200 each month. All three deals offer much better value than most high street banks and building societies.
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Alternatives to personal loans
For details of the best personal loans currently available, read the Which? personal loan reviews.
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