The offer applies to personal loans between £7,500 and £15,000.
M&S Money offers personal loans from £1,000 to £25,000, with flexible repayment terms over 12 to 84 months and the option of making no payments for the first three months, subject to lending criteria.
Colin Kersley, M&S Money Chief Executive, said:
"We're committed to adapting to meet the changing needs of our customers and we understand that the current economic climate is difficult for most families.
"We've therefore reduced our loan rate to ensure we're able to offer our customers the best rate possible on our personal loans."
