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.