Ikano Bank has reduced the APR on personal loans of between £5,000 and £7,499 by 0.3%. This has made an already outstanding product jump from the number two spot to the top of its Best Buy chart.
A personal loan of £5,000 to £7,499 over a term of one to five years now has an APR of 3.8%.
Example monthly repayments: £5,000 over three years = £147.03.
Applications must be made online, though further information is also available over the phone. Borrowers must be at least 18 years old to apply, must have a minimum annual income of £10,000, and should remember that rates are representative and dependent on their credit rating.
This personal loan has become the joint market-leader for mid-tier borrowing by combining its already attractive features with this competitive rate cut.
Moneyfacts rating: Outstanding
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 Any products featured may be withdrawn by their provider or changed at any time.
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