M&S Bank has reintroduced its lowest-ever loan rate of 28% APR.
The rate applies to loans between £7,500 and £15,000, for periods between 12 to 84 months.
The bank accepts applications for personal loans from £1,000 to £25,000 and customers can take a payment holiday for the first three months, subject to lending criteria.
Paul Stokes, head of products at M&S Bank, said: “We know that many customers will be taking the time to review their finances early in the new year as they make plans for the year ahead, so we've launched a number of very strong offers to support customers while they plan for 2018.”
New M&S credit card 'reward plus' customers who apply directly with the bank in January will get a £20 M&S voucher.
Customers will also receive 2,000 M&S loyalty points worth £20, double points on M&S shopping for the first 12 months and 0% interest on purchases and balance transfers for six months.
Credit card customers will earn two points for every £1 spent in M&S in the first year of using the reward plus offer – one point for every £1 in subsequent years – as well as one point for every £5 spent elsewhere.
All new credit card customers using reward plus, shopping plus or transfer plus offers will also receive a bonus 500 points worth £5 in M&S.
M&S points are automatically converted into M&S vouchers and sent to customers each quarter.
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