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Key benefits
Best buy loan rate - moneyfacts.co.uk
Sainsbury's shoppers with a Nectar card could get the best buy rate of 7.8% APR typical on loans from £7,500 to £14,999. Plus we’ll give you double Nectar points on your Sainsbury’s shopping and fuel for 2 years.* That's enough points to give you a week's free shopping. Now that's rewarding!^
- 7.8% APR typical** on loans from £7,500 - £14,999
- Choose to repay from 1-5 years
- Easy to arrange with no set up fees
- Fixed repayments for the term of your loan
See how your points add up
Jennifer spends £49 per week in Sainsbury's on shopping for the family and swipes her Nectar card every time she shops. By taking out one of our selected Sainsbury's Finance products, she doubles her points every week. That means she can earn enough points to get a week's free shopping once a year. Now that's rewarding!^
To take out a loan with us…
You need to be 18 or over and have:
- A bank or building society account
- A permanent UK address
- A good credit history
No Nectar card?
Don’t worry. You can apply for a Nectar card online at www.nectar.com. You’ll be given a card number straight away and your new card will be posted to you. Or pick up a pack instore and fill out one simple form. There’s a Nectar card in the pack so you can start using it as soon as you activate it.
Apply now with a Nectar card:
I don't hold a Nectar card:
*Double Nectar Points Offer Terms & Conditions Offer only available to customers applying for a new loan, excluding applications received by referral from comparison websites (except Moneysupermarket). The application must be accepted and the loan paid out to qualify for double Nectar points. The loan must be for an amount between £7,500 and £14,999 and must be taken over a period of between 12 and 62 months. If you miss any repayments, double points will stop at the end of the month this happens and will not be re-instated, even if the loan is brought back up to date. If the loan is repaid, double points will stop from the date of repayment. Only the first loan registered against each Nectar account will qualify for double points. You may qualify for additional points by taking out other qualifying products. Base points on qualifying spend in Sainsbury's will be earned as normal. A bonus equal to the total of these points each calendar month (subject to a monthly maximum of 2,500 points) will be credited to the Nectar account by the 10th of the following month, for up to 24 months from the date the loan is paid out. Excludes points from Sainsbury's Energy, Telecoms, Digital, Bank and all Bonus point offers. The monthly bonus will only be calculated on, and credited to the Nectar card nominated at the time of application. The nominated card must also be used at the time of each Sainsbury's purchase and points will not be allocated retrospectively. The collection and use of Nectar points in the Nectar loyalty programme is governed by the Nectar Collector Rules set out in the registration pack and available at www.nectar.com Sainsbury's Bank reserves the right to alter, cancel or withdraw the offer without prior notice.
How to apply
Does this sound like you?
- You're 18 years of age or older
- You have a bank or building society account
- You have a permanent UK address
- You have not been declined credit in the past month
- You don't have a history of bad credit such as arrears, county court judgements, payment default or bankruptcy
If so, you're eligible to apply for a personal loan.
What else do you need to apply?
- Your residential address for the past three years
- Your bank or building society details
- Your monthly incomings and outgoings
- Your employer's name and address
- Your Nectar card number if you have one
Please note:
You can repay your loan at any time during the repayment period. If the original length of your loan is more than 12 months an early settlement fee of 58 days interest on your remaining balance will be charged.
By completing and submitting the application you confirm that all the information you've provided is true and complete and that you're at least 18 years of age.
Missing payments could have sever consequences and make obtaining credit more difficult.
For your security
All data sent as part of the application process is protected by 128-bit encryption.
Finally, please read our important information and Privacy Statement before you apply.
Apply now with a Nectar card:
I don't hold a Nectar card:
#Funds are transferred after our receipt of signed loan documentation and can take up to three days to clear from date of transfer.
Summary box
Summary Box key information for our medium personal loan from £7,500 to £14,999
| Loan size | £7,500 to £14,999 (available in £1 increments) |
| APR | Typical 7.8% APR for Sainsbury's shoppers with a Nectar Card - If successful the interest rate you will pay is based on your personal circumstances, and the amount you choose to borrow. |
| Interest rate range | £7,500 - £14,999 from 7.8% to 11.7% representative APR = 7.8% |
| Interest charging information | The interest rate is fixed and guaranteed for the life of the loan and is charged monthly on the balance of your loan account on the day before payment date each month. |
| Repayment Information | Payment is made by monthly Direct Debit. The first monthly repayment is due one month after the date the loan has been opened, if you opted for the repayment holiday then repayments will start two months after the date the loan was opened. We charge interest between the start of your loan and the first monthly repayment. |
| Repayment period | You can choose to repay your loan over 1 to 5 years |
| Amount of loan available | Loans are available from £7,500 to £14,999 in increments of £1 |
| Application / arrangement fee | There is no application/arrangement fee |
| Other fees | If you choose the optional courier service to receive your loan agreements, £59 will be payable one month before your first repayment |
| Default fees | The following charges will be made if any of the following actions have to be taken: If a Direct Debit is returned unpaid: Up to £25; Letter requesting payment or telephone call to home or business: £10; Pre-default notice: £30; Default expired: £50; Issues of solicitors letter, instruction of agency to collect the balance, instruction to solicitor to issue court proceedings or instruction to obtain new address: £50 |
| Early settlement | You can repay your loan at any time during the repayment period. To do this you need to pay off the amount under this agreement, which may be reduced by a rebate. |
The interest rate is fixed and guaranteed for the life of the loan and is charged monthly on the balance of your loan account on the day before payment date each month.
Illustrative example
Here are a few examples of what your Medium Personal Loan might look like, depending on the amount of your loan, your loan term, monthly repayments and what your total repayment would be.
| Loan | Representative APR | Term | Monthly repayment | Total amount repayable |
| £7,500 | 7.8% | 36 months | £236.53 | £8,515.08 |
| £10,000 | 7.8% | 60 months | £203.30 | £12,198.00 |
| £14,000 | 7.8% | 60 months | £284.63 | £17,077.80 |
The above figures are based on opting for the 3 month repayment holiday.
The rate you are offered will vary between 7.8% APR and 11.7% APR depending on credit assessment procedures, your personal circumstances and the amount you borrow.
Compare competitors
How we compare - 7.8% APR Typical
When you're applying for a loan, rate is key. Compare our market leading personal loan rate and see how much you could save.
| Lender | APR | 60 monthly repayments of | Total amount repayable | Saving over 60 months |
|---|---|---|---|---|
| Sainsbury's Finance | 7.8% | £150.41 | £9,024.60 | |
| Tesco Bank | 7.9% | £150.50 | £9,030.00 | £5.40 |
| Santander (Existing customers) | 8.9% | £154.08 | £9,244.80 | £220.20 |
| Alliance & Leicester | 8.9% | £154.08 | £9,224.80 | £220.20 |
| Marks & Spencer Money | 9.9% | £157.42 | £9,445.20 | £420.60 |
| Barclays (Existing cutomers) | 10.9% | £162.70 | £9,762.00 | £737.40 |
| NatWest (existing customers) | 12.9% | £167.60 | £10,056.00 | £1,031.40 |
All figures are based on £7,500 over 60 months. Competitor rates: source Moneyfacts.co.uk - the money search engine - 20/04/10. Competitors quoted may offer lower rates to existing customers, internet or telephone applications or for larger loans.
Terms and conditions
You can repay your loan at any time during the repayment period. If the original length of your loan is more than 12 months an early settlement fee of 58 days interest on your remaining balance will be charged.
Please read our terms and conditions (PDF 63KB) and privacy statement.
Please note: our terms and conditions document will open in a new browser window and may take some time to download depending on your internet connection.
You can download and print the terms and conditions with Adobe Acrobat. Get Adobe Reader.
Get in touch
To find out more information about our Personal Loans, give us a call.
| To apply | 0800 169 8503* |
| For all other questions | 0800 169 8503* |
| If you’re calling from abroad | 0044 1244 358771* |
Lines are open 8.00am - 10.00pm, Mon - Fri, 8.30am - 6.00pm, Sat, 9.30am - 5.30pm, Sun *Telephone calls may be recorded for security purposes and monitored under our quality control procedures.
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Payment Protection
When you take out a loan, it's important to consider your ability to maintain your monthly repayments in full, and on time.
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