Tesco Bank cuts the cost of £15-25k loan | Product News - Moneyfacts

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Tesco Bank cuts the cost of £15-25k loan

Tesco Bank cuts the cost of £15-25k loan

Category: Loans
Date: 27/08/2015

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 It is now over 6 months old so the content may be out of date.

Tesco Bank has cut the cost of borrowing £15,001 to £25,000 by 0.7% APR, earning its personal loan an 'excellent' rating as a result.

The basics…

A (non-Clubcard) personal loan of £15,001 to £25,000 now has an APR of 5.9% for a term of one to seven years, and a rate of 7.9% APR for a term of eight to 10 years.

The finer details…

Example monthly repayments: £20,000 over five years = £384.30.

Borrowers must be 18 years or older and have a minimum annual income of £10,000 to apply. Applications can be made either by phone or online. Borrowers should remember that rates depend on the amount borrowed, the length of the term chosen and their credit history.

Why we like it…

The reduction to personal loans of £15,001 to £25,000 has merited this loan an 'excellent' rating, and borrowers who are looking to consolidate their debts are likely to find this deal newly appealing as a result.

Moneyfacts rating: Excellent

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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