Loan holds on to chart position | Product News - Moneyfacts

Product News

Loan holds on to chart position

Loan holds on to chart position

Category: Loans
Date: 10/11/2014

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Clydesdale Bank has held on to a top 10 place in the Moneyfacts charts despite making a marginal increase to the APR for online personal loan applications of £5,000 to £7,499.

The basics…

A Clydesdale Bank Personal Loan of £5,000 to £7,499 now has an APR of 5.9% over a term of one to five years, retaining its position among the best buys.

Meanwhile, a loan of £1,000 to £2,999 has an APR of 23.9% and a loan of £3,000 to £4,999 has an APR of 17.9%. A borrower seeking a loan of £7,500 to £25,000 will pay 4.9% APR.

The finer details…

Example monthly repayments: £5,000 over three years = £151.31.

Current customers must be at least 18 years old to apply for this loan, while new customers must be aged at least 23 and have an income of £15,000 per annum. Applications can be made online, in branch or over the phone. Lump sum repayments are welcomed.

Borrowers must remember that rates are dependent upon their credit history, loan amount and the term chosen.

This loan is also available through Yorkshire Bank.

Why we like it…

Despite the slight rate increase, this loan still offers borrowers a competitive deal for loans of £5,000 to £7,499. The option to make lump sun repayments also offers some welcome flexibility, which is sure to intrigue those looking to secure a personal loan of this size.

Four Moneyfacts Stars have been awarded.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
Close