According to the UK bank’s research, only 52% of people expect to clear their Christmas spending by the end of January, with 8% expecting it to take longer than 12 months.
Steven Baillie, loans manager at Sainsbury’s Bank, said: Consolidating your debts into one personal loan which charges a lower rate of interest can mean that you could save hundreds of pounds in repayments.
Sainsbury’s Bank personal loans start at 6.5% APR typical. In addition to what the bank claims are some of the most competitive rates in the marketplace, customers taking out a Sainsbury’s Bank loan have the option to make no repayments for the first three months, receive an instant decision and have their money transferred directly into their bank account.
