Sainsbury's Bank already offers one of the most attractive personal loan rates in the market at 6.1% APR representative for loans of between £7,500 and £15,000. The Price Promise Guarantee applies to all Standard loans from £1,000 to £25,000.
Steven Baillie, Head of Sainsbury's Loans said:
"We are constantly looking for ways to reward our customers. Those customers who secure a personal loan from us can rest assured that they will be offered one of the best rates in the market, but if they can secure a better deal elsewhere we now promise to beat it. We believe there are no other loan providers to make a commitment quite like ours."
The offer is only available to those customers who successfully apply for a Sainsbury's Standard Loan. This is subject to them qualifying for the offer. Claims under the offer must be received within 28 days after the Sainsbury's Loan has been approved. Claims cannot be accepted if the customer has already fully accepted the Sainsbury's Standard Loan offer by signing and returning the Sainsbury's Loan agreement.
A "lower rate" means a lower Annual Percentage Rate of an alternative unsecured, fixed rate loan from a lender, compared on a "like for like" basis. If a customer's claim is successful, Sainsbury's Bank will reduce the APR on their Sainsbury's Loan to below that of the alternative lender by 0.1%.
Sainsbury's Bank reserves the right to modify or cancel the Offer at any time without prior notice.
Customers taking out a Sainsbury's Loan also benefit from:
-A personally tailored repayment period, from 1 to 7 years
-Fixed repayments for the whole period of the loan
-Easy to apply
-Money transferred directly into your bank account
