New loan tier from first direct | Product News - Moneyfacts

Product News

New loan tier from first direct

New loan tier from first direct

Category: Loans
Date: 06/10/2016

first direct has increased the maximum loan amount on its unsecured personal loan to an unusually high limit of £50,000. This boasts the (joint) market-leading rate for the £30,050 to £50,000 tier, earning it a high Moneyfacts rating.

The basics…

A loan of £30,050 to £50,000 over a term of one to seven years now has an APR of 6.7%. This is the joint-lowest rate available for a loan of this kind.

The finer details…

Example monthly repayments: £30,050 over five years = £588.00.

Applications can be made online or over the phone. Borrowers must be at least 18 years old to apply, and will need to have or open a first direct current account through which to repay the loan. They should always remember that rates are representative and dependent on their credit rating.

Why we like it…

For borrowers looking to take out a large unsecured loan at a competitive rate, this added tier provides a great deal. As the market leader at the upper end of the loan spectrum, it deservedly earns its high rating.

Moneyfacts rating: Excellent

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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