M&S Money Extends Cashback Reward
on: August 24, 2009, 11:37 am
M&S Money has announced that its 10% cashback reward offer to
customers who take out a personal loan is being extended until 7th
The offer, which was originally due to end on 11th August, is now being made
available to all customers who take out a personal loan for a repayment
period of between 36 months up to seven years. This gives customers a refund of 10%
of the interest they have paid once their final repayment has been made.
When the cashback reward is taken into account, the typical rate of 8.7% APR on a£10,000 loan over a 36 month period is equivalent to a rate 7.9% p.a.*
The extended offer is also available with the M&S Car Buying Plan, which means that
the cashback reward offer is likely to be of particular value customers who are
considering buying a new vehicle at the start of September. The M&S Car Buying Plan
also allows customers to defer a fixed percentage of their loan, as well as giving
them several options at the end of the term. Customers can keep the car and carry on
making monthly payments until the whole of the loan is repaid, keep the car and pay
off the remainder of the loan with a lump sum or sell the car and use the money to
pay off the remainder of the loan.
Notes to Editors
* Monthly repayment £319.48 total interest £1,501.28 total amount repayable£11,501.28. The cashback reward is not available on refinanced loans, loans repaid
early or loans terminated by M&S Money.
Credit subject to status to UK residents aged 18 and over.
About M&S Money:
M&S Money (the trading name of Marks & Spencer Financial Services) was founded in
1985 as the financial services division of Marks and Spencer Group plc. The company
is now a top ten credit card provider and the second largest travel money retailer
in the UK. M&S Money also offers a range of insurance cover, including home
and pet insurance, as well as
loans, savings and investment products.
In November 2004, Marks & Spencer sold M&S Money to HSBC. The Group serves customers
worldwide from around 9,500 offices in 86 countries and territories in Europe, the
Asia-Pacific region, the Americas, the Middle East and Africa. With assets of
US$2,527 billion on 31 December 2008, HSBC is one of the world's largest banking
and financial services organisations. HSBC is marketed worldwide as 'the world's
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