Are there any exceptions? we may charge you 28 days additional interest. no hidden charges or nasty surprises. A loan of £10,000 over 5 years will cost you £242.32 per month at a representative 17% APR.. Currently, as a concession, in each calendar year you can make regular or lump-sum overpayments of up to 10% of the amount owed at 1st January without having to pay an early repayment charge. Your repayments will continue to be made directly from your salary on your payday. The rate you are offered will depend on your individual circumstances. Loans from £1,000 Your first repayment period could be up to 30 days longer than your regular repayment periods. Customers are able to settle their Sainsbury’s loan early, however there is a charge of 58 days’ interest to do so. Any early repayment charges that apply. Our products consistently top best buy tables and regularly win awards for quality, price and service. giving you comfort that you will never miss a payment. Sainsbury’s is making a splash in the personal loan market at the moment.. For starters, it’s offering a market-leading 5.9% rate on some personal loans. Benefiting from a fantastic, trusted brand that enables us to combine the shopping experience with personal finance, Sainsbury’s Bank provides a range of quality products including insurances, credit cards, savings and loans. 1. If you have up to 12 months left on your loan, you can be charged up to 28 days interest from the date you inform your lender you want to repay your loan early. Registered Office, 33 Holborn, London EC1N 2HT (registered in England and Wales, no 3279730) is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (register no. If you make additional payments to your loan you must continue to pay your monthly repayments Monthly repayments With a loan, we give you a sum of money up front and each month after that you pay back some of what you owe. The Bank’s loans can be taken over a range of terms but it is urging customers to consider whether they could be debt free sooner. Your final repayment could be a matter of pennies higher or lower than your previous regular repayments. Keep on making your payments You need to keep making your monthly payments until you've settled your loan. Paying your debts off as quickly as possible can mean you’re back on an even keel sooner. £22.21 more into loan a month = 6 months earlier, £49.99 more into loan a month = 12 months earlier. Find out more about Sainsbury’s personal loans by … It could mean the difference between paying back your loan over four years rather than five for example and settling your debts sooner. We're honest - There are (2) Sainsbury’s Bank loan data Jan 2017 – Jan 2018 looking at loan purpose and average amount borrowed This press release is information for journalists only and is not intended to be a promotion to be acted upon by consumers. For further information on Sainsbury’s Bank Loans visit www.sainsburysbank.co.uk/loans or pick up a leaflet instore at Sainsbury’s. Sainsbury’s Bank customers tend to pool borrowing from various places including credit cards, other loans and store cards and borrow on average around £12,000(2) for debt consolidation. Click ‘Sign In’ to agree and continue. 2.8% representative, will lend between £1,000 - £40,000 over 12 - 84 months. For loans of £7,500 and above taken out over three years Sainsbury’s is offering a typical rate of 5.9% making the retailer the market leader against high-street heavyweight banks like HSBC and NatWest. If you can't find the email, please check your spam folder. Need to be a UK resident. 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