More on interest rates with a Sainsbury’s loan?
Plus, you’ll need to take into consideration your own credit history. It’s usually people who have an excellent credit history 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. Any rejections will be noted on your report and could work against you in the future.
So if in doubt, take the time to find out. The three credit reference agencies are Experian (the largest), Equifax and Call Compass. You can check your report for free at Call Compass and also with Experian and Equifax through their trial period offer (just remember to cancel the trial before you get charged). Call Compass offer 15 days credit checking for free and then charge £14.95 per month. Experian and Equifax however offer 30 days free access then there is a charge to continue.
Am I eligible for a Sainsbury’s bank loan?
To qualify for a loan from Sainsbury’s, you’ll need to meet this criteria:
- You’ll need to be aged between 18 and 80
- You’ll need to be less than 83 when the loan is repaid
- You’ll need a UK bank or building society account with a Direct Debit facility
- You should have a permanent address in the UK
- Your income will need to be more than £7,500
- You should not have any CCJs (County Court Judgements) or have been declared bankrupt