Ikano Bank has decreased the rate on loans of £7,500 to £15,000 to make it the lowest rate for this tier, deservedly earning it the top spot in the charts as well as the highest Moneyfacts rating.
A personal loan of £7,500 to £15,000 over a term of one to five years now boasts a market-leading APR of 3.0%, after a drop of 0.1%.
Example monthly repayments: £7,500 over five years = £134.63.
Applications can be made online or over the phone. Borrowers must be at least 18 years old to apply, with a minimum annual income of £10,000, and should remember that rates are representative and dependent on their credit rating.
Its reduced rate has made this personal loan highly competitive amongst its peers, comfortably taking the top spot in the Best Buys and easily earning our highest rating.
Moneyfacts rating: Outstanding
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