M&S Bank has moved to the top of all the personal loan Moneyfacts charts after making significant cuts to the cost of borrowing between £5,000 and £15,000.
For both new and existing customers, the bank's unsecured Personal Loan now has a rate of 3.6% APR for a loan of between £7,500 and £15,000 over a term of one to seven years.
Example monthly repayments for new and existing customers: £7,500 loan over five years = £136.57.
Applicants must be at least 18 years old and can apply in branch, by phone or online. Borrowers should remember that all rates depend upon their credit rating, loan size and the term chosen.
The swingeing cuts have seen M&S Bank soar to the top of the charts. Anyone wanting a loan of between £7,500 and £15,000 will, of course, have to take a look.
The highest accolade of five Moneyfacts Stars has 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 Any products featured may be withdrawn by their provider or changed at any time.
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