‘Excellent’ loan for loyal customers | Product News - Moneyfacts

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‘Excellent’ loan for loyal customers

‘Excellent’ loan for loyal customers

Category: Loans
Date: 02/11/2015

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 It is now over 6 months old so the content may be out of date.

Barclays has reduced the cost of borrowing between £7,500 and £15,000 on its personal loan for existing Premier Account customers by 0.2% APR, earning it an 'excellent' rating as a result.

The basics…

An Existing Premier Account Customer Barclayloan for between £7,500 and £15,000 over a term of two to five years now has a highly competitive rate of 3.7% APR.

The finer details…

Example monthly repayments: £7,500 over five years = £136.91.

Borrowers must be at least 18 years old and have held a Premier Account for a minimum of seven months. Applications can be made in branch, by phone, online and by smartphone app. Borrowers should remember that rates are representative and dependent on their credit rating.

Customers may be eligible for the Price Guarantee if a like-for-like loan is found offering a lower APR, giving borrowers added competitive benefit.

Remember, in order to secure a mortgage, credit card or personal loan you need to have a good credit rating. To find out if yours has a clean bill of health, contact a credit check provider, such as Experian to investigate your credit report.

Why we like it…

Existing customers who are looking for a highly competitive mid-tier loan are likely to welcome this update, which has made borrowing more cost-effective. The added appeal of the Price Guarantee further cements this deal as an attractive option.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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