Supermarket loans, credit cards, savings and insurance deals could represent poor value compared to banks, Which? has said.

In a study on financial products sold at supermarkets, the consumer association found that supermarket credit card annual interest rates were often higher than credit cards issued by banks. However, good deals were found on life insurance.

Neil Fowler, editor of Which? said: “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.”