Outstanding loan gets a rate reduction | Product News - Moneyfacts

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Outstanding loan gets a rate reduction

Outstanding loan gets a rate reduction

Category: Loans
Date: 19/10/2015

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 It is now over 6 months old so the content may be out of date.

Clydesdale Bank has reduced the cost of select tiers of its personal loan by up to 0.3% APR, earning it the top accolade in the process.

The basics…

A personal loan of £5,000 to £7,499 over a term of one to five years now has a highly competitive rate of 4.3% APR (-0.2% APR), while loans of £7,500 to £15,000 and £15,001 to £25,000 have both benefited from the biggest reduction of 0.3% and have attractive new rates of 3.5% and 3.7% APR respectively.

The finer details…

Example monthly repayments: £5,000 over three years = £148.21.

Existing customers can apply for this loan provided they are at least 18 years old, while new customers must be aged between 23 and 74 and have an annual income of at least £15,000. Applications can be made in branch, by phone and online. Borrowers should remember that rates are representative and dependent on their credit history.

This loan is also available through branches of Yorkshire Bank.

Remember, in order to secure a mortgage, credit card or personal loan you need to have a good credit rating. To find out if yours has a clean bill of health, contact a credit check provider, such as Experian CreditExpert to investigate your credit report.

Why we like it…

The rate reductions to mid and high-tier loans have made this deal highly attractive to eligible borrowers on the hunt for a competitive deal. This is an outstanding product that fully deserves the highest Moneyfacts rating.

Moneyfacts rating: Outstanding

To apply for this loan Click here

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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