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Loans Latest News Abbey cuts loan rate
Loans Latest News Abbey cuts loan rate Abbey cuts loan rate
Abbey is now offering one of the lowest loan rates on the market after cutting its typical personal loan rate to 5.7 per cent for internet applications
The loans are available on loans from £5,000 to £20,000 for internet (5.7 per cent) and non-internet applications (6.4 per cent).
The lowest rates previously started at £7,000.
Michael Johnson, Abbey's director of banking said: "We are keen to offer customers a good deal even when they're not borrowing a huge sum of money.
"In offering our lowest rates on loans as small as £5,000, this will enable people to get affordable loans for smaller purchases or projects without paying high interest rates."
The loans are available on loans from £5,000 to £20,000 for internet (5.7 per cent) and non-internet applications (6.4 per cent).
The lowest rates previously started at £7,000.
Michael Johnson, Abbey's director of banking said: "We are keen to offer customers a good deal even when they're not borrowing a huge sum of money.
"In offering our lowest rates on loans as small as £5,000, this will enable people to get affordable loans for smaller purchases or projects without paying high interest rates."
Monday, 08 August 2005 16:15
Top 5 Personal Loans
|
Loan |
Representative APR |
Min Loan |
Max Loan |
Min Term |
Max Term |
Apply |
|---|---|---|---|---|---|---|
| View Full Table > | ||||||
 |
6.8%
|
£7,500
|
£14,999
|
1 Year
|
5 Years
|
|
| Representative Example: £7500 borrowed over a period of 5 years at 6.8% (fixed) equals monthly repayments of £148 and a total amount repayable of £8,868. There are no other charges included in the total charge for credit. | ||||||
 |
8.2%
|
£5,000
|
£7,499
|
1 Year
|
7 Years
|
|
| Representative Example: £5000 borrowed over a period of 5 years at 8.2% (fixed) equals monthly repayments of £102 and a total amount repayable of £6,112. There are no other charges included in the total charge for credit. | ||||||
 |
6.1%
|
£7,500
|
£14,999
|
1 Year
|
10 Years
|
|
| Representative Example: £7500 borrowed over a period of 5 years at 6.1% (fixed) equals monthly repayments of £145 and a total amount repayable of £8,721. There are no other charges included in the total charge for credit. | ||||||
|
|
8.1%
|
£15,001
|
£25,000
|
1 Year
|
7 Years
|
|
| Representative Example: £15001 borrowed over a period of 5 years at 8.1% (fixed) equals monthly repayments of £305 and a total amount repayable of £18,293. There are no other charges included in the total charge for credit. | ||||||
|
|
6.1%
|
£7,500
|
£15,000
|
1 Year
|
7 Years
|
|
| Representative Example: £7500 borrowed over a period of 5 years at 6.1% (fixed) equals monthly repayments of £145 and a total amount repayable of £8,721. There are no other charges included in the total charge for credit. | ||||||
