TSB enters loan chart at number 2 | Product News - Moneyfacts

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TSB enters loan chart at number 2

TSB enters loan chart at number 2

Category: Loans
Date: 21/09/2016

TSB has reduced the APR on personal loans between £7,500 and £14,999 by 0.7%. This has allowed the loan to enter the Best Buy chart for its tier and take a prestigious second place.

The basics…

A personal loan of £7,500 to £14,999 over a term of one to five years now has an APR of 3.2%, the joint-lowest for its sector.

The finer details…

Example monthly repayments: £7,500 over five years = £135.43.

Applications can be made in branch, over the phone, online and via smartphone app. Borrowers must be at least 18 years old to apply, and should remember that rates are representative and dependent on their credit rating.

This loan boasts some welcome flexibility, with borrowers allowed to take two one-month repayment holidays every year (not in consecutive months) after the first monthly repayment has been made. And as an added bonus, it even comes with a free Dulux interior design consultation (worth £75), which could be particularly suitable for those seeking a loan for home improvements.

Why we like it…

This personal loan has earned its high entry into the chart for its tier with its highly competitive reduced APR, earning it a decent rating in the process. This, combined with its added flexibility and incentives, makes it an appealing choice for mid-tier borrowers.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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