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M&S Bank loan goes for gold

M&S Bank loan goes for gold

Category: Loans
Date: 23/08/2016

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 It is now over 6 months old so the content may be out of date.

M&S Bank has reduced the APR on personal loans of between £5,000 and £7,499 by 0.7%. This has made an already outstanding product jump to the top of its Best Buy chart.

The basics…

A personal loan of £5,000 to £7,499 over a term of one to seven years now has an APR of 3.8%, the lowest in its sector.

The finer details…

Example monthly repayments: £5,000 over three years = £147.03.

Applications can be made in branch, over the phone and online. 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.

Why we like it…

This personal loan already had various attractive features to recommend itself, but with this rate cut it has become the market leader in its sector.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

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