Sainsbury's vs tesco personal loan

redhotpepper

Hi,
I am looking to borrow £15000 and applied to Sainsbury's as they were advertising 4.9% rate. I got accepted but offerred 6.1%. Hence, I applied to Tesco who after 3 days offerred advertised 5.1% rate. I know I can go back to Sainsbury with price match and get it a bit lower.
But which loan will be better for me overall in the long run as I am planning to pay it off sooner and Tesco has a 2 month interest charge for paying off early. But I do not know whether I can make regular overpayments. Sainsbury does not say what it charges for early closure. But mentions I can make overpayments. Bit confused. Any info appreciated.

_Andy_

http://www.sainsburysbank.co.uk/borrowing/support/support_loans_faqs.shtml#accordion-item-1-21

ch3101

Tesco allow overpayments.

You choose whether to reduce term or monthly payment amount.
You get the interest that you would pay on that money back.

If you reduce the term you get a higher interest rebate.

Tesco also charge up to 58 days of interest to close the loan, that is the maximum possible. Basically every lender is the same on that I think?