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Post Office stars as the loan changer

Post Office stars as the loan changer

Category: Loans

Updated: 31/12/2012
First Published: 14/04/2011

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

The Post Office has made a number of changes to its personal loan rates.

The new rates are: £2K to £4,999 - 14.9% APR (+1.0%), £5K to £7,499 - 8.4% APR (-0.5%), £7.5K to £14,999 - 7.4% APR (-1.5%), £15K to £25K - 8.4% APR (-0.5%).

A £5K loan over three years will have a monthly repayment of £156.91 without insurance.

The medium to large loans have benefited the most from this reprice and even with the increase to the lower loan amounts, all the tiers are highly competitive.

The Post Office is also one of the few providers which does not have a redemption penalty for early repayment of the loan, making this stand out in the market.

Four out of five Moneyfacts stars have been awarded

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