Personal loan rates have their costs cut | Product News - Moneyfacts

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Personal loan rates have their costs cut

Personal loan rates have their costs cut

Category: Loans
Date: 24/08/2015

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 It is now over 6 months old so the content may be out of date.

Hitachi Personal Finance has reduced the cost of the majority of its loan tiers by up to 2.7% APR, consolidating its enviable position in the Moneyfacts charts.

The basics…

A personal loan of £1,000 to £2,499 over a term of two to four years has received the biggest reduction and now has a competitive APR of 12.3%. Over terms of two to five years, a loan of £2,500 to £2,999 now charges an APR of 7.4% (a drop of 0.6%), while a loan of £7,500 to £10,000 charges 3.8% APR (down 0.1%), £10,001 to £15,000 charges 3.8% (down 0.9%) and a loan of £15,001 to £25,000 has an APR of 4.9% APR after a 0.9% reduction.

The finer details…

Example monthly repayments: £7,500 over five years = £137.22.

Borrowers must be 18 years old or over to apply. Applications can be made either by phone or online. Borrowers should remember that rates are dependent on the size of the loan, the term chosen and their credit history.

Why we like it…

The significant rate reductions to the vast majority of this personal loan's tiers have ensured its continued place in the charts. The biggest cuts have been seen at the higher loan amounts, which will please those who are looking to consolidate their debts.


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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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