Sainsbury's Finance has launched a range of rewards for its personal loan customers that make its product the best on the market in terms of payback.

Everyone who takes out a loan of between £7,500 and £15,000 will benefit from an interest rate of 6.9 per cent APR representative, as well as a £100 Sainsbury's gift card and double Nectar points for two years.

The company believes this package is the best available and could see customers reduce their repayment on the loan by up to £204 if they spend £100 a week in the supermarket.

Sainsbury's Finance spokesperson Steven Baillie added: "Plus the more Nectar points earned in store, online and in Sainsbury's petrol filling stations, the greater the benefit."

Loans also offer personalised repayment plans from one to five years and the money will be transferred directly to the customer's bank account.

Last month, Sainsbury's also announced it will be offering free breakdown cover with its car insurance until April 9th 2012.

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