TSB loan maintains chart place | Product News - Moneyfacts

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TSB loan maintains chart place

TSB loan maintains chart place

Category: Loans
Date: 17/10/2016

TSB has amended rates across selected personal loan tiers by up to 2.3% APR, solidifying its place in the charts and earning an "excellent" rating in the process.

The basics…

A Personal Loan of £3,000 to £4,999 over a term of one to five years has enjoyed the greatest reduction of 2.3% and now charges a rate of 23.6% APR. At the higher end of the scale, those looking to borrow between £20,000 and £25,000 over a term of 61 months to seven years will now pay just 5.9% APR, a reduction of 1%.

Those seeking a loan of between £5,000 and £7,499 over a term of five to seven years will have seen a slight rate rise of 2% and will now pay 14.9% APR, but for a slightly larger loan of £7,500 to £15,000 over one to five years, borrowers can still enjoy a rate of just 3.2% APR, just shy of the market leader.

The finer details…

Example repayments: £3,000 over three years = £113.67

Borrowers must be at least 18 years old and can apply in branch, online, by phone or via smartphone app. They should remember that rates are representative and dependent on credit rating.

As an added incentive, those looking for a home improvement loan will be offered a free Dulux Interior design consultation worth £75.

Why we like it…

TSB's latest review ensures that its loan maintains its status as a Moneyfacts best buy, offering borrowers a competitive choice across all loan amounts, with even the increase to the £5,000 tier doing little to alter its standing.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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