Personal loan gets market-leading rate | Product News - Moneyfacts

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Personal loan gets market-leading rate

Personal loan gets market-leading rate

Category: Loans
Date: 03/11/2014

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 It is now over 6 months old so the content may be out of date.

Hitachi Capital (UK) has reduced the rate on personal loans of £5,000 to £7,499, moving it into a market-leading position in the Moneyfacts charts.

The basics…

Hitachi Personal Loans of £5,000 to £7,499 have been cut by 0.1%, giving it a market-leading rate of 5.3% APR over a period of two to five years.

Meanwhile, other tiers have kept their competitive rates: a loan of £2,500 to £2,999 has an APR of 8.0%, while £3,000 to £4,999 will charge 7.8% APR. A loan of £7,500 to £10,000 has a rate of 4.0% APR, which has secured it a place among the top 10 for its sector. The largest loan amount Hitachi offers, £10,001 to £15,000, also has a top 10 rate of 4.9% APR.

The finer details…

Example monthly repayments: £5,000 over three years = £150.24.

These loans are available to new or existing customers aged at least 25 and can be applied for by phone or online. Lump sum repayments are welcomed.

Borrowers must remember that rates are dependent on their credit history, loan amount and the term chosen.

Why we like them…

Hitachi's personal loan offers competitive rates across all of its borrowing amounts, but the rate reduction in the £5,000 to £7,499 tier has catapulted it to the top of the market for its sector. As a result, customers looking to borrow this amount are likely to be intrigued by this offer.

Four Moneyfacts Stars have been awarded.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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