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.
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
Maria Harris set to leave Atom bank
Atom bank has revealed that its director of retail mortgages Maria Harris (pictured above) is set to leave to become an independent consultant in the mortgage market...
Handelsbanken reports 6% surge in UK lending
Handelsbanken has reported a 6% increase in UK lending to £21.4bn in Q2 2019, compared with Q2 2018...
Tandem reveals development of new mortgage product
Tandem Bank has revealed that it’s developing a new mortgage product which will be suitable for first-time buyers...
Goldman Sachs invests €25m in Raisin
Goldman Sachs has provided €25m of funding to Raisin...
The power of partnerships
Since our launch in September 2015, we have proven our ability to innovate in the UK savings market, which has been recognised with various savings awards...
N26 rebrands premium account
Mobile bank N26 has launched a premium accounts product named N26 You...
Sesame adds Investec Private Bank to panel
Investec Private Bank has been added to Sesame’s panel...
84% would change financial services provider due to poor complaints experience
More than eight out of 10 customers (84%) claim that they would change financial services provider due to a poor complaints experience, according to the latest research...
City of London Group posts £3.6m pre-tax loss after absorbing banking licence costs
City of London Group PLC (COLG) has reported a pre-tax loss of £3.6m for the year ended 31st March 2019 after absorbing £1.7m of costs associated with applying for a UK banking licence and acquisition of Acorn to Oaks Financial Services Limited...
Redwood Bank appoints two new BDMs
Redwood Bank has appointed Dan Carter (pictured above, left) and Sue Young (right) as BDMs...
Sainsbury’s Bank updates residential and BTL mortgage ranges
Sainsbury’s Bank has updated its residential and BTL mortgage ranges...