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.
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.
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.
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
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