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.