Tesco Bank has reduced the cost of borrowing on loans of £1,000 to £2,999 by 3.5% APR, earning it an 'excellent' review for its competitive terms.
An unsecured personal loan of £1,000 to £2,999 over a period of one to three years now has an APR of 14.9%, which is one of the lowest rates in its sector.
Example monthly repayments: £1,000 over one year = £89.77.
Applications for this loan can be made either online or by phone by borrowers who are at least 18 years old.
Borrowers should remember that all rates depend upon their credit rating, loan amount and the term chosen.
This latest rate reduction has significantly boosted the competitiveness of this loan, something that is certain not to pass borrowers by. As one of the lowest rates in the market for this loan amount, this deal is likely to prove popular among those who are looking to consolidate low-level debts.
Moneyfacts rating: Excellent
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