Clydesdale Bank has amended rates of its personal loan by up to 2.4% APR, with all amounts over £5,000 receiving competitive rate reductions to push it firmly into the Moneyfacts charts.
A personal loan of £5,000 to £7,499 over a term of one to five years received the largest reduction of 2.4% APR to give it a new rate of 4.5% APR. Meanwhile, a loan of £7,500 to £15,000 has a rate of 3.8% APR following a 1.1% APR reduction, and a loan of £15,001 to £25,000 has an APR of 4.1% after a cut of 1.9% APR.
Example monthly repayments: £5,000 over three years = £148.64.
New customers must be aged between 23 and 74 and have a minimum income of £15,000 to apply. Existing customers can be 18 or over. Applications can be made in branch, by phone and online.
Borrowers should remember that rates are dependent on the size of the loan, the length of the term and their credit rating.
This loan is also available through Yorkshire Bank.
The rate reductions to these loan tiers have enhanced this loan's competitiveness, allowing it to move into the charts. Eligible borrowers looking for mid to high-tier borrowing are therefore likely to find Clydesdale an appealing choice.
Moneyfacts rating: Excellent
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