M&S Bank has reduced the cost of borrowing £7,500 to £15,000 by 0.2%, which has enabled it to reclaim its crown at the top of the Moneyfacts charts.
An unsecured loan of £7,500 to £15,000 over one to seven years now has a market-leading APR of 3.6% for both existing and new customers.
Example monthly repayments: £7,500 over five years = £136.57.
Applications can be made in branch, by phone or online. Applicants must be 18 years old or over and have a minimum income of £10,000 per annum.
Borrowers should remember that all rates depend upon their credit rating, loan amount and the term chosen.
This latest rate reduction to loans of £7,500 to £15,000 has pushed this deal firmly back to the top of the charts. As a result, this loan is likely to appeal to those on the hunt for competitive mid-tier borrowing. This is an outstanding product that fully deserves the highest Moneyfacts rating.
Moneyfacts rating: Outstanding
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