M&S wants to offer priceless products in terms of personal loans

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) November 7, 2006 -- Marks and Spencer (M&S), the financial service provider defended the accusation imposed on them regarding the interest rate they charge on different loans. It is therefore, important to look for other options to get loans at competitive interest rates.

London (loans11) November 3, 2006: Financial service provider, Marks and Spencer (M&S) defended the accusation imposed on them after a research that were carried out by the consumer group, Which. According to them, the financial help they provide to their consumers are at reasonable rates and they vary as per the services.

The spokesperson of M&S, Mr James Thorpe said, �At Marks & Spencer Money, we take a stand that whatever we charge we are not going to subsidise, or buy business. That means whatever rate we charge it is a competitive rate for customers, but at the same time it is profitable business for us to run.�

The spokesperson realized that the personal loan rates have gone higher from its competitors. �At the lower values some of our competitors may be cheaper than us, but I would like to say that the vast majority of our loans are for higher sums and that is where we do most of our business,� he added.

He further emphasized that though M&S offer loans at somewhat higher interest rates as compare to other non-traditional finance service providers, with M&S, consumers get loans and Marks & Spencer brand service as well.

The editor of Which, Mr Neil Fowler, advised consumers to look for the loan options and the financial help. He further added, �Just because supermarkets offer good value on groceries, don't assume this applies across the board. You can pay well over the odds for the convenience of picking up a financial product with your weekly shopping.�

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