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Sainsbury's pledges to beat personal loan rates

Sainsbury’s Bank has promised to beat competing providers’ personal loan rates for customers who successfully apply for a standard personal loan with the supermarket.

Yuan Phoon, 8 May, 2012

The Price Promise Guarantee applies to all standard loans from £1,000 to £25,000.

Steven Baillie, head of Sainsbury's Loans, said: "Those customers who secure a personal loan from us can rest assured that they will be offered one of the best rates in the market but if they can secure a better deal elsewhere we now promise to beat it."

Currently Sainsbury's Bank already offers a personal loan rates 6.1% APR for loans between £7,500 and £15,000.

The guarantee is only available to those customers who successfully apply for a Sainsbury's standard loan and then provide a written offer from another lender within 28 days of the Sainsbury's Loan being approved.

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