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Sainsbury loans in the uk

by Jim ONeil on October 26, 2010

in high street loans

Sainsbury loans offer plenty of great benefits of the borrowers which is one of the main reasons why these loans are so popular in the UK currently.

The company offers convenient, easy unsecured loans to borrowers who do not have a property to offer as collateral and even to homeowners that do not wish to risk their property. Typically, the unsecured loans are smaller loans which are offered as short term funds solutions for handling emergency expenses.

The Sainsbury unsecured loans

Sainsbury offers uk unsecured personal  loans stating from GBP 7500 to GBP 14,999 to borrowers who require funds for a short duration. Typically, the term that is offered to the borrowers for repayment is between one to five years, depending on the loan amount and the comfort level of the borrower with the instalment. The typical APR offered by the company currently is of 7.7% which is quite competitive. However, borrowers should know that the APR which would be chargeable on their loan would depend on their personal circumstances and their credit history. Individuals that have Nectar cards can even get several other benefits when they take an unsecured loan from Sainsbury like points and APR benefits. The unsecured loans offered by the company have fixed repayments throughout the term of the loan. When this loan is used by the Nectar card holders along with regular use of the card, the points accumulated on the card can be doubled. However, even borrowers that do not hold a Nectar card can enjoy a few benefits through their loans.

Applying for a Sainsbury loans

The application process for applying for an unsecured loan with Sainsbury is quite simple. The company offers lenient terms and conditions and eligibility criteria for getting an approval for their loans. You would need to fulfil a few criteria in order to get an approval for the loan. You would have to be at least 18 years old, must have a valid bank account, should have a permanent address in UK, must not have been declined for credit in the last month and should not have bankruptcy, payment default, CCJs or arrears.

In order to apply for this unsecured loan, you would need to provide the name and the address of your employer, details of your Nectar card if you have month, details about your monthly income and expenses, details about your building society or bank account and your residential address for the last three years. Sainsbury does not offer unsecured loans to borrowers with bad credit so only those with a decent credit history would be able to apply. Applicants would be able to apply online as well as offline for the loan. Loan approvals are provided quite quickly by the company and in most cases, the funds would be transferred to the bank account within 48 hours if the loan is approved.

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