Halifax has cut the cost of its £5,000 to £6,999 personal loan tier for existing customers by 4.00% APR, earning it an 'excellent' rating.
A £5,000 to £6,999 Existing Customer Clarity Personal Loan now has a competitive rate of 5.9% APR over a term of one to seven years.
Example monthly repayments: £5,000 over three years = £151.54.
Applicants must have held a Halifax current account for at least three months and be 18 years or older. Applications can be made by phone, online, in branch and by smartphone app.
Borrowers should remember that all rates are dependent upon the loan amount, the length of the term and their credit history.
Existing customers looking for a mid-tier personal loan are likely to welcome this latest rate decrease. The cut has boosted its cost-effectiveness, making this an attractive option for this level of borrowing.
Moneyfacts rating: Excellent
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