Tesco Bank has reduced its Personal Loan rate by up to 0.8% across selected borrowing tiers, boosting its position in the medium to long-term loan best buy tables.
A new rate of 7% APR is offered to customers looking to borrow between £5,000 and £7,499, whilst 5.1% APR is offered to those borrowing between £7,500 and £15,000.
Larger loan amounts between £15,0001 and £25,000 are offered at a reduced rate of 7.2%.
A typical monthly repayment based on a £5,000 loan over a three year period would be £153.89.
Rates are representative and dependent on credit rating, loan amount and term.
This new and improved loan should appeal to customers looking to borrow medium to large amounts over a short term. Four out of five Moneyfacts Stars have been awarded.
Find out how much a Tesco Bank loan could cost you each month with our handy Loan Calculator.
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 Any products featured may be withdrawn by their provider or changed at any time.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.