Tesco Bank has reduced personal loan rates across its range.
Borrowers looking for a loan between £5,000 and £7,499 will now be charged 6.4% APR (a reduction of 0.6%).
Those needing a higher value loan between £15,001 and £25,000 will be charged 6.8% APR.
Borrowers must remember that rates are representative and depend on an individual's credit rating.
Example repayments: For a £5,000 loan taken out over three years borrowers will need to pay £152.61 per month. Total repayable = £5,493.96.
This rate reduction cements Tesco Bank's position as one of the most competitive loan providers in the market.
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