Compare Sainsbury’s Loans

What loans do Sainsbury’s offer?

Sainsbury’s bank offers unsecured personal loans with a fixed rate of interest. Having a fixed rate means you can budget for your repayments each month knowing that they won’t change. You can borrow anything from £1,000 up to £40,000 and choose a repayment period from between one and seven years.

You should always check the details when you decide on a loan amount. You might find that certain amounts need to be paid back within a more specific timeframe e.g. a loan of £3,000 - £4,999 can be paid off between 1 and 5 years.

Unsecured loans mean that you don’t have to provide any security against the loan, it’s an agreement in good faith based on your credit history and eligibility. But just because you’ve not offered up any assets in case you default, doesn’t mean that the penalties are any less severe.

What interest rates will I get with a Sainsbury’s loan?

What interest rate you qualify for will depend on multiple factors. It’s worth noting that if you subscribe to Sainsbury’s Nectar reward scheme it could qualify you for preferential rates.

Although the annual interest rate is fixed, the amount you want to borrow will influence the interest rate that you are offered. You might find that the less you borrow, the higher the interest and you may be better off asking for a loan that’s slightly more than you originally wanted – but remember there is of course more to pay back!

The rate you are offered will depend on your personal circumstances including your credit rating.

It’s usually people who have a good credit score that qualify for the really low rates. If you’re a bit unsure of what your credit report says about you, you should always check before making any credit or loan applications.

So if in doubt, take the time to find out by contacting the three credit reference agencies, Experian, Equifax and Compass.

How do I know if this is the loan for me?

That’s why we’re here. We’re one of the UK’s largest comparison sites so you can be confident that we’ll bring to the table everything that we can find so that you can make a choice that’s right for you. Just use our loan comparison service to find out what loan you could get today. 

All Sainsbury’s loan details are based on information provided on www.sainsburysbank.co.uk on 9 November 2016.