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AA’s £5,000 loan tier improved

AA’s £5,000 loan tier improved

Category: Loans
Author: Lieke Braadbaart
Date: 14/11/2018

The AA has reduced the APR on its personal loans of between £5,000 and £7,499 by 0.3%, which has earned it a high rating.

The basics…

A personal loan of £5,000 to £7,499 over a term of one to seven years now has an APR of 3.8%.

The finer details…

Example monthly repayments: £5,000 over three years = £147.03.

Applications can only be made online. Borrowers must be at least 21 years old with a minimum annual income of £12,000 to apply, and must have been a UK resident for at least three years. They should remember that rates are representative and dependent on their credit rating.

It should be noted that the loan is provided through Bank of Ireland UK.

Why we like it…

The reduction in APR on this personal loan has easily earned it its Moneyfacts rating and made it more appealing for mid-tier borrowers.

Moneyfacts rating: Excellent

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

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