Shop around for personal loans, advises Sainsburys Finance

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www.moneynews.co.uk > Loans > Shop around for personal loans, advises Sainsburys Finance

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Shop around for personal loans, advises Sainsburys Finance

Consumers have been told by a spokesperson from Sainsburys Finance that they could potentially save a significant amount of money by shopping around when they want to borrow money.

According to Steven Baillie, head of loans at the firm, who cited research by Moneyfacts.co.uk, up to £1,000 could be saved by individuals looking for a loan of £10,000.

He said: "Ultimately, you must make sure you're getting the best possible rate for your requirements and not paying over the odds, because you don't have to."

Sainsburys Finance highlighted how consumers can apply for a loan at 7.8 per cent APR typical for amounts of between £7,500 and £14,999.

Mr Baillie pointed out that a competitive loan could "come in handy" for all sorts of projects, such as home improvements.

The firm recently unveiled a new cash Isa at 2.6 per cent interest, with head of savings at the company Helen Cook noting that it is an instant-access account.

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