Ikano Bank has reduced the rate on the £7,500 to £15,000 tier on its personal loan by 0.2%, enabling it to take the top position in this sector of the charts.
A personal loan of £7,500 to £15,000 over a term of one to five years now has a market-leading rate of 3.2% APR, which allows it to sit proudly at the top of the charts.
Example monthly repayments: £7,500 over five years = £135.28.
In order to apply for this loan, borrowers must be at least 18 years old with an annual income of at least £10,000. Applications must be made online. Borrowers should also remember that rates are representative and dependent on their credit rating.
The eyes of borrowers who are looking for a highly competitive loan are likely to be caught by this latest development. Now boasting the lowest rate available at this loan tier, this deal is very cost-effective and fully deserves its 'outstanding' rating.
Moneyfacts rating: Outstanding
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