Ikano Bank loan is a market leader | Product News - Moneyfacts

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Ikano Bank loan is a market leader

Ikano Bank loan is a market leader

Category: Loans
Date: 12/10/2016

Ikano Bank has reduced selected rates on its unsecured personal loans by up to 0.6%, earning it the highest Moneyfacts rating and a market-leading position in the Best Buys.

The basics…

A personal loan of £3,000 to £4,999 over a term of one to five years now has an APR of 5.2% after enjoying the greatest reduction (-0.6), while amounts between £7,500 and £15,000 over the same term now come with a rate of 3.1% APR (-0.1%), which is the joint-lowest we've ever seen.

The finer details…

Example monthly repayments: £3,000 over three years = £90.02.

Applications must be made online, but additional information can be requested over the phone as well. Borrowers must be at least 18 years old with a minimum annual income of £10,000. They should remember that rates are representative and dependent on their credit rating.

Why we like it…

This personal loan has become increasingly attractive, thanks to this latest reduction in rates making it the market leader for mid-tier, restriction-free borrowing. Borrowers can be assured that they are receiving some of the most competitive rates around regardless of loan amount, easily making the deal worthy of the highest rating.

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 Any products featured may be withdrawn by their provider or changed at any time.

 

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 Any products featured may be withdrawn by their provider or changed at any time.

 
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