M&S Money lowers personal loans rate
Credit card provider M&S Money has announced it is to cut the rate on its personal loans from 9.9% to 8.75% APR variable.
The offer will apply to loans between £7,500 and £15,000.
It is also available with M&S Car Buying Plan, which could make it easier for customers to take advantage of the government's 'cash for bangers' scheme.
Colin Kersley, M&S Money chief executive, said: "It's good to see that increased numbers of customers have been able to change to new, more environmentally friendly models."
M&S Money is also currently offering a reward credit card with a typical variable rate of 15.9% APR after ten months.
Card holders can collect points when they use the card that can be used to buy products within M&S stores.
There is 0% interest on all shopping for ten months from the date on which the account is opened.
Card holders can also take advantage of 0% on balance transfers for six months with a 2.9% transfer fee, for balances of a minimum of £5 and within six months of account opening.
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