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 Any products featured may be withdrawn by their provider or changed at any time.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