Personal loan

Personal loans are the most common type of loan. The market for personal loans is very competitive with the major supermarkets joining the other key players in providing competitive rates for the consumer.

A personal loan is a form of unsecured borrowing and this gives less risk to the consumer than a secured loan. One of the key features of a personal loan is that it provides the borrower with structured repayments so that the consumer knows exactly how much they will have to repay each month, how long it will take to repay all of the personal loan and the total interest element of the overall charge.

Personal loans for small amounts up to £1,000 typically charge a higher interest rate. The best value loans in terms of interest charge are loans between the value of £7,500 – £14,999. Currently, June 2011, loans of this value can be found charging interest as low as 6.7 per cent over a typical repayment period of 36 or 60 months.
 

Related Articles

Derbshire BS has cut personal loan rates again

Derbyshire BS cuts personal loan rate to 5.1 per cent

The Derbyshire Building Society has cut the rate on its personal loans between £7,500 and £10,000 to just 5.1 per cent taking it back to the top of the best-buy tables along with the Clydesdale.

Derbyshire BS has cut the rate on its personal loan to just 5.5 per cent

Derbyshire BS cuts personal loan rate to 5.4 per cent

The Derbyshire Building Society has cut the rate on its personal loan between £7,500 and £14,999 to 5.4 per cent matching the deal from Sainsbury’s Bank.

M&S Bank has cut the rates on personal loans

M&S Bank cuts personal loan rate to 5.8%

M&S Bank has announced that it is cutting the rates on personal loans between £7,500 to £15,000 to just 5.8 per cent.

Sainsbury's Bank has cut its personal loan rate to 5.4 per cent

Sainsbury's Bank cuts personal loan rate to 5.4 per cent

Sainsbury’s Bank has cut the rate n personal loans for Nectar card holders to just 5.4 per cent for people who borrow over a one to three-year term.

M&S have launched a new personal loan at 5.5%

M&S unveils best-buy personal loan rate at 5.5%

Marks & Spencer has launched a new personal loan for applicants who want to borrow between £7,500 and £15,000 over a 1-5 year period at just 5.5 per cent.

See more related articles

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