cahoot has reduced the cost of borrowing by up to 0.6% APR, propelling its personal loan to the top of the Moneyfacts charts.
A personal loan of £7,500 to £20,000 received the largest reduction of 0.6% APR, giving it a joint market-leading rate of 3.6% APR over a term of one to five years. Meanwhile, loans of between £5,000 and £7,499 now have an APR of 4.5% after receiving a 0.1% APR reduction, which makes it another market-leader.
Example monthly repayments: £5,000 over three years = £148.53.
Applicants must be at least 21 and have a minimum annual income of £5,000. Applications must be made online.
Borrowers should remember that rates are dependent on the size of the loan, the length of the term chosen and their credit history.
This personal loan has intensified its competitiveness with some significant rate reductions, with the £7,500 to £20,000 tier receiving a particularly notable cut. As a result, cahoot has re-established itself at the top of the Moneyfacts charts, something that will appeal to borrowers looking for competitive loans. 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 Any products featured may be withdrawn by their provider or changed at any time.
Moneyfacts.co.uk will, like most other websites, place cookies onto your computer’s
hard drive. This includes tracking cookies.