A simples guide

Compare ASDA Loans

When you’re searching for a loan, you might think the solution lies with a bank and not think to consider your local supermarkets. You should, because ASDA has a range of loans that can work if you’re looking to buy a car, consolidate debts or go on holiday.


With so many loans on the market right now, making the right choice can prove to be quite difficult. So if you’re looking for a loan then you should compare the deals available with the help of our loan comparison service. 


How long does it take to apply for an ASDA loan?

You can apply online or over the phone and if accepted have access your loan in just two days, pretty impressive.

You can pay back the loan over a period of up to 7 years allowing you to budget over a time period that suits you.

Of course you can choose to pay it back faster by paying off the loan with a lump sum payment to reduce the amount of interest you’ll pay in the long run but it’s good to know that ASDA will let you spread the terms to suit you.


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What’s required to apply?

You have to be over 24 and be in steady employment to qualify for the loan. ASDA will also look at your credit record, plus income and expenses before making a decision.

What are ASDA’s interest rates?

If you borrow more than £7,500, ASDA will charge a typical rate of 7.9%*. Over the course of seven years this interest would add up, so you might want to check the alternatives with the help of our loan comparison service.

If the loan is for less than £7,500, then it counts as an ASDA Little Loan. With an APR of 12.9%, this is also a relatively high rate so you should always check our comparison service for alternatives. For a smaller amount you could even look at credit card as an option, although this takes a great deal of discipline and you may feel more comfortable with the structure of a long-term loan.


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How much can I borrow?

ASDA has two categories of loans  

  • Little Loans: £3000-£7,500
  • Personal Loans: £7,500-£20,000

Before you commit to any long-term financial product you should do your research. Make sure you’ve gone through our loan comparison service and compared the personal loans on the market. You might like ASDA’s deal and it still might be the one for you. But you absolutely have to check the options before you sign up for a deal that will run for the next seven years, it’s simply good business. So use our loan comparison service and make sure you have a loan that will look after you for years to come.

All ASDA loan details are based on information provided on securedhomeownerloans.org.uk/ASDAfinance data on 21st April 2016


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