A new lender has entered the personal loans market, armed with a range of competitive rates available with effect from this week.
Hitachi Personal Finance's range of flexible personal loans will offer rates as low as 4.9% and require no set-up charge.
The lender has also pledged to provide customers who apply online at hitachi personal finance with an instant decision, and pay the money into their account in around 24 hours.
Having been a retail lender in the UK for over 30 years, Hitachi Personal Finance claims it has decided to offer personal loans due to the sector becoming "stagnant" recently.
Managing director of Hitachi Personal Finance, Gerald Grimes, said: "The high street banks dominate personal lending but are only opening the best deals to their own customers. We saw an opportunity to create a range of loans that are built around consumers' needs and offer them at great rates.
"Our aim is to set loan rates that consistently provide great value for people looking to borrow anything from £1,000 to £25,000.
"We are confident our loans will consistently feature in the best buy tables across the range of borrowing, because offering great value is core to our brand," he declared.
Compare loan repayments and interest with our easy-to-use loan calculator. Read our tips on how to find the cheap loans here Best Buy personal loans (£5K over 3 years)
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