‘Outstanding’ loan from Tesco Bank | Product News - Moneyfacts

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‘Outstanding’ loan from Tesco Bank

‘Outstanding’ loan from Tesco Bank

Category: Loans
Date: 02/07/2015

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 It is now over 6 months old so the content may be out of date.

Tesco Bank has reduced the cost of borrowing £15,001 to £25,000 by 0.8% APR, securing its personal loan a spot in the Moneyfacts charts.

The basics…

A loan of £15,001 to £25,000 over a term of one to 10 years now has a competitive APR of 5.8%, enabling it to sit comfortably in the charts.

The finer details…

Example monthly repayments: £20,000 over five years = £383.42.

Applicants must be at least 18 years old and have an annual income of £10,000. Applications can be made by phone or online.

Borrowers should remember that rates are dependent on the size of the loan, the length of the term chosen and their credit history.

Why we like it…

The rate reduction to this loan tier has made it even more competitive, which will appeal to borrowers who are looking to consolidate their debts. 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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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