Sainsburys loans Price Promise.. for Nationwide Customers apr 2.8% loan
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Sainsburys loans Price Promise.. for Nationwide Customers apr 2.8% loan

4
Found 4th Nov 2015
This is a bit long winded but if you are a Nectar card holder and apply for a loan between £7500 & £15000 over a maximum of 3 years you will/may get the special rate of 3.4%. brilliant rate. (3.5% if you need 4 years)
If you are also a Nationwide customer they will beat that rate by 0.5% (evidence of acceptance must be provided) leaving a loan rate of 2.9%
But.... Sainsbury's have also got a price promise and can be used before you sign your documents not after!!
The price promise says it will beat any other offer by 0.1% Thus giving you a loan amount of 2.8%
Maths bit..
£15k loan @ 3.4% over 36 mths = £799.22 interest (£438.87 p/mth) Total £15799.22
£15k loan @ 2.8% over 36 mths = £656.30 interest (£434.90 p/mth)
Total £15656.30
saves £142.92 over the term of the loan... it all counts
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4 Comments
I am a Nationwide customer. Is the discount automatic or would I have to ring them / fill out a physical form? Amazing offer - heat added.
I have nectar card and I am a nationwide customer but it is too much hasstle to save just £142 over 3 years
Am a Nationwide customer and think this is great.Looking to turn garage into bedroom £140 will pay towards flooring.:)
Being honest I've got accepted for the loan from Sainsburys, when the forms come out to be signed you go see Nationwide after a bit of Googling its best to go in shop rather than over the phone as the decision is quicker..
I know Sainsburys won't have the money in the bank till 4/5 days after I return the form..
From memory the last loan i got with Nationwide was in the bank the next day..
so although it's possible to achieve 2.8% - paying for parts for my builder may have a huge influence on whether I go back to Sainsburys or just accept Nationwide.. and phone Sainsburys and cancel..
as there's not a huge saving over 2.9 and 2.8 %....
Also there's something in my mind that is saying Nationwide perform a soft search so not the same impact on credit report..
Edited by: "polg" 4th Nov 2015
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