How much do you want to borrow?
£7,500 £14,999Over how many months?
12 months 36 monthsMonthly Repayment
Total Interest paid
Arrangement Fee
Total amount paid
6.8% - 11.4%
7.2%
£7,500 - £14,999
Minimum Term 1 year
Loans up to £14,999 - 3 years
Direct Debit
3-5 working days from when they receive your signed documents
No Fee
3 month repayment holiday at the beginning of your loan
Transferred into your bank account
No
24th for APR of 423 loans in the UK (See Lender League Table By APR)
Loans from £7,500 to £14,999. You can borrow this for between 1 - 3 years. If you are already a member of the Nectar card scheme then you may be entitled to a better APR rate. This is the7.2% Shopper Reward Loan available to Sainsbury's customers with a Nectar card. Also, Sainsbury's will give you double Nectar points on your Sainsbury's shopping and fuel for two years.
You can apply online with Sainsbury's or you can apply over the phone. You will be given an instant provisional decision and they will email or call you that day letting you know if you have been approved. They will send a copy of the loan agreement out to your home so you can sign it and send it back. You may need to send proof of documents back too, but they will let you know. A courier service can speed up your application if you require the money quickly, for a fee. Once received, Sainsburys should pay out within 3 -5 working days.
Sainsbury's do not offer loans to people who have been refused credit in the past 30 days or if you have a history of bad debt such as late payments, defaults, CCJs or bankruptcy. Also, bear in mind they have early settlement charges so if you think you will pay the loan off earlier than expected you need to check what the additional charges will mean for you. One of the main complaints on customer review sites is slow service and being declined even if you have good credit history. Their credit scoring system does seem to be quite strict so may not be the best option if you have been refused credit before.
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Default Fees |
Default expired - £50.00 Direct Debit returned unpaid - £25.00 |
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Early Settlement Fees |
If your loan is longer than 12 months - 58 days interest will be charged |
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Other Fees |
Courier Fee to receive your documents quicker - £59.00 Order to gain new address - £50.00 |
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Late Payment Fees |
Phone call requesting payment - £10.00 Letter requesting payment - £10.00 Pre-default notice - £30.00 |
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Monthly Arrears Fees |
Instruction of solicitor for court proceedings - £50.00 Instruction of agency to collect balance - £50.00 Issue of solicitors letters - £50.00 |
Sainsbury's Supermarkets Ltd, 33 Holborn, London, EC1N 2HT
0500 40 50 60
