“Outstanding” loan from M&S | Product News - Moneyfacts

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“Outstanding” loan from M&S

“Outstanding” loan from M&S

Category: Loans
Date: 01/03/2016

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

M&S Bank has amended its loan rates by as much as 1% APR on amounts between £5,000 and £15,000, solidifying its best buy status and earning an "outstanding" rating in the process.


The basics…

A Personal Loan of £5,000 to £7,499 over a term of one to seven years now has a market-leading rate of 3.5% APR after enjoying the full 1% reduction. Meanwhile, the £7,500 to £15,000 tier has seen a slight increase of 0.2% APR, but with the same rate of 3.5%, it retains its impressive position in the charts.

The finer details…

Example repayments: £7,500 over five years = £136.25

All borrowers must be at least 18 years-old with a minimum income of £10,000, and should remember that rates are representative and dependent on credit rating.

Why we like it…

M&S Bank's latest review ensures that its loan maintains its status, and with a market-leading rate for mid-tier borrowing, borrowers are bound to sit up and take notice. This is an outstanding product that fully deserves the highest Moneyfacts rating.

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 Any products featured may be withdrawn by their provider or changed at any time.

 

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 Any products featured may be withdrawn by their provider or changed at any time.

 
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