TSB has reduced the cost of borrowing £7,500 to £25,000 by 1.0% APR for existing banking customers, earning it an 'excellent' rating for its competitive terms.
A personal loan of £7,500 to £19,999 over a term of one to seven years now has a competitive APR of 3.9%, while a loan of £20,000 to £25,000 has a rate of 4.4% APR.
Example monthly repayments: £7,500 over five years = £137.71.
Applicants must be at least 18 years old and have a TSB current account that has been open for at least three months. Applications can be made in branch, by phone, online and via Smartphone app.
Borrowers should note that rates depend upon the loan amount, the term chosen and their credit history.
Existing customers of TSB on the hunt for a competitive mid to high-tier loan are likely to be intrigued by this latest decrease as it means they can benefit from some of the lowest rates currently available. For this reason, a loan of between £7,500 and £25,000 merits an 'excellent' Moneyfacts rating.
Moneyfacts rating: Excellent
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