Borrowers hoping to find a competitive personal loan over a medium-term have the pick of some of the lowest rates in the market for a long time.
This time two years ago the top rate offered for a £10,000 loan over five years was 6.5%. Today the top rate has reduced to just 5%.
A wide range of competitive loans are offered in the current market if you are hoping to buy a car with the new 63 number plate with effect from the 1 September. Whether you are looking for a Fiesta or a Ferrari, our loans best buy tables can help you choose the best product for your needs.
As with any form of credit, it is always wise to work out your finances and be sure you can meet the monthly payments prior to committing to a personal loan.
The APR quoted is representative of the interest rate offered to most applicants. Depending on your personal circumstances the APR you are offered may be higher. Please check all rates and terms before borrowing.
Derbyshire Building Society Online Personal Loan
Penny says… "Leading the market is this product from Derbyshire Building Society, which should prove popular with borrowers who prefer to conduct their finances online.
"Applicants will also receive an immediate online decision."
Clydesdale Bank Online Personal Loan
Penny says… "Charging the same rate as the Derbyshire Building Society loan, this deal offers a market-leading rate to borrowers looking for a larger loan.
"This product is available to new and existing customers, although applicants must bear in mind that age restrictions and minimum income requirements will apply."
Tesco Bank Personal Loan
Penny says… "Sitting in third place is this highly competitive loan from Tesco Bank, which should attract a lot of interest from borrowers who are keen to do business with a familiar high street brand."
"Applications for this loan can either be made online or by telephone."
Sainsbury's Bank Standard Nectar Cardholder Loan
Penny says… "Mirroring the rate and features of the Tesco Bank loan, this product is available to shoppers who hold a Nectar card that has been used with Sainsbury's during the past 6 months."
M&S Bank Personal Loan
Penny says… "Squeezing into the top five medium-term personal loan market is this attractive deal from M&S Bank.
"Borrowers must be aged 30 or over, or be a home owner to apply for this loan."
Information & Rates correct as at: 01/08/2013
Read our tips on how to find the cheap loans here Find the best loan for you - Loans Calculator
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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