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.
