M&S Bank slashes personal loan rate | Product News - Moneyfacts

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M&S Bank slashes personal loan rate

M&S Bank slashes personal loan rate

Category: Loans
Date: 07/01/2014

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 It is now over 6 months old so the content may be out of date.

M&S Bank has reduced the rates across its unsecured personal loan range by up to 4.4% APR, with the biggest reduction being seen in the £3,000-£4,999 tier.

The basics…

New customers seeking a loan of between £3,000 and £4,999 can enjoy a rate of just 12.6% APR, while existing customers can get an even better rate of 12.5%.

The finer details…

Rates are similarly reduced across all tiers, with amounts of £5,000-£7,499 securing a market-leading rate of 6.1% APR (existing customers only).

Example repayments: £5,000 loan over three years = 151.96 per month.

Borrowers should note that rates are representative and dependent on credit rating. Additional eligibility restrictions apply.

Why we like it…

M&S Bank has reduced the cost of borrowing across all tiers which sees it climb up the best buy charts, and for amounts of £5,000 over a three-year term it comfortably takes top place.

Four Moneyfacts Stars have been awarded.

What Next?


Compare loan repayments and interest with our easy-to-use loan calculator

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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