8 November 2005
Sainsbury's Bank has weighed into the race to create the most competitive personal loan rate by slashing its internet APR ahead of the festive period.
After Tesco announced a rate cut yesterday, its rival has fired a riposte by reducing its rates for online applications worth £5,000 and above to 6.1 per cent APR, following on from an autumn reduction to 6.3 per cent.
Customers need not make any repayments for the first three months and, as well as receiving an instance decision about their application online, will receive their check within 24 hours.
Rachel Brereton, loans manager for Sainsbury's Bank, said: "We are committed to offering consistently competitive rates. The new rate is perfect for anyone planning a holiday or looking to make a few special purchases for Christmas."
This new offer is available from today until the end of December.
Compare all UK personal loans at uSwitch.com and find the one to suit your needs.
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