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Sainsbury’s Finance tops Best Rate loans table

Sainsbury's leapfrogs loans from M&S and Tesco

Sainsbury's Finance

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.

Which? debt, credit and loans surgery

Which? Money is running an online debt, credit and loans surgery between 12pm and 1.30pm on Monday 31 January, when you can ask our panel of experts all your credit and debt questions.

Whether you’re looking for the best credit card to use abroad, hunting for the best personal loan, want to ask about credit card protection or need independent help in finding the best debt advice service, Which? can help.

Alternatives to personal loans

If you’re planning to borrow smaller amounts, it’s worth considering the alternatives, including credit cards, in-store interest-free credit, credit unions or peer-to-peer lending sites such as Zopa.

For details of the best personal loans currently available, read the Which? personal loan reviews.

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