Sainsburys Finance personal loan 'a best-buy option'

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Sainsburys Finance personal loan 'a best-buy option'

A finance expert has lauded a new personal loan launched by Sainsburys Finance, suggesting it is one of the best options available to consumers.

Tim Moss, head of debt and loans at moneysupermarket.com, claimed the new product is as good as any other loan on the market in the over-£7,500 category.

However, the price comparison site is offering to make this cheaper for consumers by handing out discount vouchers.

He added: "With the moneysupermarket.com exclusive giving borrowers £50 of Sainsbury's shopping vouchers, this makes this the cheapest personal loan on the market."

The personal loan is available at 7.7 per cent interest for amounts of between £7,500 and £14,999, but applicants must go through the moneysupermarket.com website to receive the discount vouchers.

This week, Sainsburys Finance also launched a new credit card, which offers users family travel insurance, zero fees on using the card abroad and interest of 9.94 per cent, although there is a £5 monthly charge.

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