Clydesdale Bank’s loan secures chart position | Product News - Moneyfacts

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Clydesdale Bank’s loan secures chart position

Clydesdale Bank’s loan secures chart position

Category: Loans
Date: 03/08/2015

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 It is now over 6 months old so the content may be out of date.

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.

The basics…

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.

The finer details…

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.

Why we like it…

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

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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