expanded Loans - Key Information

The information contained in the table below summarises key product features and is not intended to replace any terms and conditions.

APR ranges We treat all our customers and their applications on an individual basis. The APR we offer is determined by the details you supply and the loan you are applying for, along with an independent verification of your credit and repayment history and will range from 2.7% to 25.9% APR. 
Interest charging information The interest rate is fixed and guaranteed for the life of the loan. Interest at the annual interest rate is calculated each calendar day and is added to the loan monthly.
Repayment information Payment is made by monthly Direct Debit. If you take a Repayment holiday, the first monthly repayment is due three months after the date the loan has been opened. We charge interest between the start of your loan and your first monthly repayment.
Application / Arrangement fee There is no application/arrangement fee
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: £40
- 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 have the right to repay all or part of the loan at any time. 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.
Lending criteria Loans are provided, subject to status by Sainsbury’s Bank plc, operating from PO Box 4955, Worthing BN11 9ZA. Written quotations are available on request. To apply you must be at least 18 and a UK resident (excluding the Channel Islands and the Isle of Man). Sainsbury’s Bank reserves the right to vary rates without notice. The rate you are offered will depend on your personal circumstances, credit assessment procedures and other related factors. Your application will not be considered without a phone number.