AA reduces cost of mid-tier personal loan | Product News - Moneyfacts

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AA reduces cost of mid-tier personal loan

AA reduces cost of mid-tier personal loan

Category: Loans
Date: 25/02/2015

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 It is now over 6 months old so the content may be out of date.

AA has decreased the cost of borrowing on its mid-tier personal loan by 0.2% APR, allowing it to sit comfortably among the top 10 of its sector.

The basics…

A loan of £7,500 to £15,000 over a term of 18 months to five years now has a competitive rate of 3.9% APR, enabling it to retain its status as a Moneyfacts best buy.

The finer details…

Example monthly repayments: £7,500 over five years = £137.55.

Borrowers must be at least 23 years old and have an income of £12,000 per annum in order to apply for this loan. Applications can be made online, by phone or by Smartphone app.

This loan comes with an enticing incentive package of free AA Roadside Vehicle Breakdown Cover for one year for new customers, while existing AA members will receive a half price upgrade to their policy.

Borrowers should remember that rates depend on the amount borrowed, the term chosen and their credit history.

Why we like it…

This rate cut has boosted the competitiveness of this loan, something that is sure to catch the attention of borrowers, while the added incentives of free breakdown cover or a half price upgrade further sweeten the deal.

Moneyfacts rating: Excellent

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 Any products featured may be withdrawn by their provider or changed at any time.

 

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 Any products featured may be withdrawn by their provider or changed at any time.

 
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