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Sainsbury’s Bank Launches Into Larger Loans Market

16 October 2014

 

One of the most consistently competitive(1) personal loans providers, Sainsbury’s Bank has today (Wednesday 15th October 2014) launched into the larger loans market.

Increasing the maximum limit from £25,000 to £35,000 on its personal loans, Sainsbury’s Bank is the only provider to offer loans of this value to both new and existing customers.

The supermarket bank is offering a headline rate of 6.9%(2) APR Representative with repayment terms of up to five years.

Simon Ranson, Head of Banking at Sainsbury’s Bank said: ”Our new loan limit offers greater choice and flexibility to those considering making a significant investment or purchase, such as home reconfigurations and renovations like an extension.”

Taking out a loan, of any amount, is a big commitment for consumers as the monthly repayments remain the same until it is repaid. It is essential that consumers ensure that loan payments fit within their monthly budget, even if their circumstances change.

For more information on Sainsbury’s Bank Loans, visit www.sainsburysbank.co.uk/loans or pick up a leaflet instore at Sainsbury’s.

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 Contact:

Lorna Gilmour, Sainsbury’s Bank Press Office

T. 0131 338 2863

lorna.gilmour@sainsburysbank.co.uk / bank_communications@sainsburys.co.uk

www.sainsburysbank.co.uk

 This press release is information for journalists only and is not intended to be a promotion to be acted upon by consumers.

Notes to editor:

(1)       Source: MoneyComms. Over the last three years, Sainsbury’s Bank loans appeared in more top five positions within monthly market best buy tables than any other mainstream provider. (January 2011 to 2014)

(2)       Rates correct at date of issue. Sainsbury’s Bank reserves the right to vary rates without notice.

Sainsbury’s Bank:
To view our latest press releases and product information, please visit the Sainsbury’s Bank online media centre at www.sainsburysbank.co.uk/media

Sainsbury’s was the first major British supermarket to open a bank, commencing trading in February 1997. Benefiting from a fantastic, trusted brand that enables us to combine the shopping experience with personal finance, Sainsbury’s Bank provides a range of quality products including insurances, credit cards, savings and loans. Our proposition is to make shopping more rewarding by offering customers great products at fair prices, while consistently rewarding shoppers for their loyalty and being easy to do business with at all times. Our products consistently top best buy tables and regularly win awards for quality, price and service.

Sainsbury’s Bank plc. Registered Office, 33 Holborn, London EC1N 2HT (registered in England and Wales, no 3279730) is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (register no. 184514). Sainsbury’s Bank plc is covered by the Financial Services Compensation Scheme (FSCS).