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Tesco Bank amends loan rates

Tesco Bank amends loan rates

Category: Loans

Updated: 14/12/2012
First Published: 28/09/2011

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 It is now over 6 months old so the content may be out of date.

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.

Four out of five Moneyfacts stars have been awarded.

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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 Any products featured may be withdrawn by their provider or changed at any time.

 
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