Tesco Bank cuts loan rate to 6.4% APR
Tesco Bank has cut its interest rate on loans between £7,500 to £14,999 for new customers from 6.7% APR to 6.4% APR representative.
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Representative example:
Loan Amount: £10,000
Monthly Payment: £235.85
Term of loan: 48 months
Total amount repayable: £11,320.80
6.4% APR representative (this is also the borrowing rate). All rates are fixed.
Existing loans customers who apply for further borrowing will also benefit from a special reduced rate of 6.3% APR representative as a thank you for being a loyal customer. This applies only to loans between the value of £7,500 and £14,999.
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