Once again, Sainsbury’s Finance has reduced the interest rate charged on their personal loan products, as the battle for who can offer the best cheap loan deal continues amongst a number of lenders and loan companies. The supermarket has lowered the rate on the most competitive unsecured loan amount of between £7,500 and £15,000 to just 6.1 per cent APR (Annualised Percentage Rate) for those borrowers with a good credit rating, although this loan rate could be higher for someone with a lower credit score.
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