Sainsbury's Bank personal loan rate 'cut'

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Sainsbury's Bank personal loan rate 'cut'

Sainsbury's Bank has announced that it will be cutting the interest rate on its online personal loan to 6.5 per cent.

The group's deal is available on any online application for loans between £7,500 and £25,000.

Sainsbury's bank also claims that its personal loan rates compare favourably with other providers, being superior to many of the high street financial providers.

Steven Baillie, loans manager at the bank, said: "Our new rate, which is one of the lowest around, should be helpful to those looking to carry out any home improvements this summer or those planning to order a new car and highlights our commitment to continually offer competitive rates to our customers."

Sainsbury's Bank personal loans also have many other added benefits for consumers, including allowing them to make no repayments for the first three months.

Applicants for the loan will receive a decision instantly and will have a cheque delivered to their door within 24 hours.

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