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.
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%.
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.
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.
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