Loan rates cut by Sainsbury's
22/01/09
Sainsbury’s have announced that they have cut personal loan rates by between the range of £7,000 and £25,000. Loans between these ranges have been cut to 8.1% and are one of the most competitive rates available currently according to Sainsbury’s Finance.
It is no surprise that January is one of the busiest months for loan companies with many people building up debts from the Christmas period. In January there is a hike in the number of people looking to consolidate their loans.
Steven Baillie who is head of loans at Sainsbury’s commented that “Debt consolidation is always a good idea if you have multiple sources of debt, maybe a store card and credit card or a historical loan. Paying a number of individual rates of interest which could be as high as 30% or more on some store cards for example is not the best way to approach your debt.”
“Consolidating all of your non-secured debt through one of our loans could save you hundreds or thousands of pounds in interest repayments.”
