Tesco Bank has overhauled its personal loan rates making it one of the best options across all borrowing tiers.
The changes are as follows:
For new customers: £7.5K to £14999 - 6.7% APR (-0.7%) and £15K to £25K - 8.3% APR (-0.2%). Example monthly repayments: £5K loan over 3 years - £157.53.
For existing customers: £7.5K to £14999 - 6.6% APR (-0.7%) and £15K to £25K - 8.3% APR (-0.2%). Example monthly repayments: £5K loan over 3 years - £157.53.
Rates are typical and dependent on credit rating and amount and term of loan.
The rates for loans between £7,500 and £25,000 equate to some of the cheapest in the market, but due to vigorous rate reductions by other institutions there are, by a small margin, more competitive rates available elsewhere.
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