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Sainsbury's urges students to shop around for best loan
Published: 26/09/2006 |
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Sainsbury's Bank has estimated that the increase in university tuition fees this year could lead to a rise of between 17 and 21 per cent in the cost of living for an average student. Consequently, the bank believes it is essential that prospective customers shop around for the most competitive loan because it could save them a significant amount in repayments. At present, it is believed that some 40 per cent of people taking out a personal loan only receive one quote. The bank speculates that people taking out a £10,000 loan with them could save over £900 compared to a similar loan from First Direct. Sainsbury's Bank offers loan rates starting at 6.1 per cent, with customers also having the opportunity to make no repayments for the first three months of the loan. Those people taking on a Sainsbury's Bank loan will also receive an instant decision and have their money transferred directly into their bank account.  © Adfero Ltd
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