Aside from being one of the UK’s most popular supermarket chains, Sainsbury’s (sainsburysbank.co.uk) also offers its customers a variety of finance and banking services. With credit cards, insurance policies, savings accounts and loans, Sainsbury’s Bank aims to help its customers manage their finances in an effective, sustainable way. The bank prides itself on being an ethical lender that assists its customers with all of their financial needs.
Many people in the UK find themselves faced with debt. This debt can sometimes spiral and become unmanageable. Taking out a debt consolidation loan can be an effective way to reorganise your debt, consolidating it into one manageable loan that can be paid off at a fixed monthly rate. By paying off outstanding debts and focusing on one loan, customers can begin to bring their debt problem under control. Debt consolidation loans can also offer people lower interest rates and longer-term repayment plans, saving them money in the long run.
Sainsbury’s offer several different loans that can be used to consolidate your debt. These loans can cover as little as £1,000 up to £25,000, with interest rates that vary depending on the type of loan, the amount being borrowed, the length of the loan term and your personal financial circumstances and history. Finding a loan with a lower rate can make your debt consolidation loan more effective, and Sainsbury’s offer a Price Promise on its Standard Loan, which guarantees to beat any other rate that you’re offered by a competing bank.
Customers who take out a debt consolidation loan from Sainsbury’s Bank can also benefit from the two month repayment holiday at the start of the loan, giving them a reprieve from repayments after they’ve used the loan to pay off their outstanding debts.
If you’re over the age of 18, have an account with a bank or building society and are currently employed, you could be eligible for a loan. To get a personalised quote for their Sainsbury’s Bank debt consolidation loan, customers can apply online or call the bank’s help line.