M&S Money Reduces Loan Rate
Released on: July 14, 2011, 2:26 pm
M&S Money is reducing the rate on its personal loans from 6.9%
APR to 6.7% APR (representative). The offer applies to personal loans
between £7,500 and £15,000.
M&S loans are available between £1,000 and £25,000 with flexible repayment terms
over 12 to 84 months. Customers have the option of making no repayments for the
first three months, subject to lending criteria.
Colin Kersley, M&S Money Chief Executive, said: "We are pleased to offer a reduced
rate on M&S Personal Loans. The latest offer
of 6.7% follows other competitive loan rates we have launched this year. The reduced
rate also applies to M&S Car Buying Plan which allows customers to defer a fixed
percentage of their loan."
M&S Car Buying Plan allows customers to defer a fixed percentage of their car buying
them the following options at the end of the term:
- Keep the car and carry on making monthly payments until the whole of the loan is
- Keep the car and pay off the remainder of the loan with a lump sum
- Sell the car and use the money to pay off the remainder of the loan
When borrowing with an M&S Personal Loan, customers are reminded that they should
consider their ability to maintain the monthly repayments. Customers can view more
information on the M&S Money website, with further information available via our
customer services teams over the phone.
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 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 insurance and car insurance, as well as loans, savings and investment products.
In November 2004, Marks & Spencer sold M&S Money to HSBC. HSBC Holdings plc, the
parent company of the HSBC Group, is headquartered in London. The Group serves
customers worldwide from around 8,000 offices in 87 countries and territories in
Europe, the Asia-Pacific region, North America, Latin America and the Middle East.
With assets of US$2,418 billion at 30 June 2010, HSBC is one of the world's largest
banking and financial services organisations. HSBC is marketed worldwide as ‘the
world's local bank'.
M&S Money has an executive committee comprising an equal number of representatives
from HSBC and Marks & Spencer.
Chester Business Park
01244 686 068
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