Best unsecured personal loans recommended by Moneyfacts

According to Moneyfacts, it is the right time for the borrowers to make use of the most competitive deals on unsecured personal loans offered by the supermarket giants.

The financial website explained that the majority of high street banks in the UK have started to introduce so-called “personal pricing” on their personal loans, which actually means that they have no standard average interest rate. Those who want to apply for a loan usually have to fill out and submit their application without knowing the interest rate the bank is ready to offer them.

As a result, people find it harder to snap up the best value unsecured loan bargains.  However, Moneyfacts suggested some good options for people who are currently in need of a cheap loan deal.

The comparison site says the best rates are offered by supermarket giant companies Tesco and Sainsbury’s. One can avail an unsecured loan deal (£3,000-£25,000) fromTesco at the rates of 7.9%-15.9%, or the similar deals from Sainsbury’s at the rates of 7.9%-18.7%. It should be noted, however, that applicants should have a Nectar card to be eligible for a loan.

In addition, Moneyfacts recommended potential borrowers to consider loans offered by the Post Office.


The cultural transformations that have made people accept life in debt have had a direct impact on the approach youngsters take to money matters, which could lead to negative consequences in the long run as many of the next generation would resort to IVAs to cope with serious financial issues.

When we put efforts into our work and get paid for this, we get an amazing feeling of satisfaction. Our hard hard work seems to have been remunerated financially. We go shopping and buy the items we need and the items we simply want.