first direct has cut the cost of borrowing £7,000 to £25,000 by 0.2% APR, earnings its loan an "excellent" rating in the process.
A Personal Loan now charges a rate of just 3.4% APR for those who wish to borrow £7,000 to £25,000 over terms of one to seven years, making it the best rate on the market for these borrowing amounts.
The finer details…
Example monthly repayments: £7,500 over five years = £135.92.
Borrowers will need to either have or open a current account with the provider in order to be eligible for the loan, and should remember that rates are representative and dependent on individual credit ratings.
Why we like it…
first direct's latest rate cut has made its personal loan a leading contender for mid to higher-tier borrowing, offering the lowest rate available for those seeking a loan of £7,000 and above, something that's bound to appeal to prospective borrowers.
Moneyfacts rating: Excellent
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