first direct has reduced the cost of borrowing for an unsecured personal loan of £7,500 to £25,000 by 0.3%, earning it an 'excellent' review and a place at the top of the Moneyfacts charts.
A personal loan of £7,500 to £25,000 now has a joint market-leading rate of 3.6% APR for a term of one to seven years.
Example monthly repayments: £7,500 over five years = £136.59.
Borrowers must be aged 18 and over to apply for this loan. An account with the lender is also required in order to make repayments, so new customers will need to open a first direct current account to be eligible for the loan. Applications can be made online or by phone.
Borrowers should remember that all rates depend upon their credit rating, loan amount and the term chosen.
Thanks to the rate decrease this loan now boasts a joint-marketing leading rate for the £7,500 to £25,000 tier. This is sure to attract the notice of borrowers looking to consolidate their debts.
Moneyfacts rating: Excellent
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