Post Office stars as the loan changer - Loans - News - Moneyfacts

News News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

Post Office stars as the loan changer

Post Office stars as the loan changer

Category: Loans

Updated: 31/12/2012
First Published: 14/04/2011

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

The Post Office has made a number of changes to its personal loan rates.

The new rates are: £2K to £4,999 - 14.9% APR (+1.0%), £5K to £7,499 - 8.4% APR (-0.5%), £7.5K to £14,999 - 7.4% APR (-1.5%), £15K to £25K - 8.4% APR (-0.5%).

A £5K loan over three years will have a monthly repayment of £156.91 without insurance.

The medium to large loans have benefited the most from this reprice and even with the increase to the lower loan amounts, all the tiers are highly competitive.

The Post Office is also one of the few providers which does not have a redemption penalty for early repayment of the loan, making this stand out in the market.

Four out of five Moneyfacts stars have been awarded

Find the best loan for you - compare loans

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Blue Monday hits nation’s finances

Today has been dubbed Blue Monday – the most depressing day of the year – and considering how many people could be battling with their finances this month, it’s little wonder.

Calls to make the loans market clearer

At first glance the personal loans market may seem simple enough, but get into the nitty gritty and it can be anything but. As a result, some are calling for action to make the market clearer and fairer for all.

Get the cheapest ever personal loan!

Have you woken up with a financial hangover after the festivities? Perhaps you’ve got big plans for the year ahead, or maybe you need a new car? Well, whatever your reasons for needing a loan, you can now snap one up for the cheapest ever rate!