Tesco Bank has launched a new personal loan product exclusively to its Clubcard holders, offering highly competitive rates at all borrowing levels to see it head straight into the Moneyfacts best buys.
The most competitive rates can be found at the mid-tier borrowing level, with a Clubcard Cardholder Loan of between £7,500 and £15,000 charging just 3.7% APR over terms of one to seven years, one of the lowest available in its sector.
Example repayments: £7,500 over five years = £136.90.
Borrowers must hold a Tesco Clubcard to be eligible for this loan, and should also remember that rates are representative and dependent on individual credit ratings.
This new entrant into the personal loans market has certainly made an impact, offering competitive rates to borrowers of all kinds and earning the highest accolade in the process.
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 Any products featured may be withdrawn by their provider or changed at any time.
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