Sainsbury's: New personal loan rate available

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Sainsbury's: New personal loan rate available

Sainsbury's Finance has released a new personal loan with a rate of 7.9 per cent APR typical, according to reports.

Shoppers who apply using their Nectar card before February 28th 2010 will receive double points on their transactions in store for the next two years.

This new offer is available on all loans between £7,000 and £15,000, except those taken out through aggregator sites.

Steven Baillie, head of loans at Sainsbury's Finance, said: "We're always looking for ways to reward our customers and with this offer we're giving the Sainsbury's shopper a rate that is the best in the market and offering them fantastic rewards."

Many shoppers many find they need to take out a loan following the festive season, if the figures from Sainsbury's are anything to go by. It estimated that on Christmas Eve alone an average of £57 an hour was spent by consumers.

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