TSB has increased the rate on selected personal loan tiers by 0.3% APR. Despite this, loans of between £5,000 and £7,499 are still competitive, retaining a high rating and a place in the Best Buys.
A personal loan of £5,000 to £7,499 over terms of between one and five years now has an APR of 3.9% (+0.3%). Those who will need 61 months to seven years to repay their loan will pay a higher rate of 14.9% APR, unchanged from the previous update. All other loan rates remain unchanged.
The finer details…
Example monthly repayments: £5,000 over three years = £147.35.
Applications can be made online, over the phone or in branch. Borrowers must be at least 18 years old and should remember that rates are representative and dependent on their credit rating. Funds can be credited on the same day if borrowers have had a TSB current account for more than three months.
Why we like it…
TSB continues to offer some of the most competitive loan rates across various tiers, which is why it's unsurprising to see it retaining a place in the Best Buys and keeps its high rating.
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 Any products featured may be withdrawn by their provider or changed at any time.
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