Personal loan rates cut at Abbey

Tue, 09 Aug 2005

One of the lowest personal loan rates in the market is now available from Abbey.

The personal loan provider announced that it is to cut its personal loan rate for online applications. The new rate is set at 5.7 per cent typical APR.

Customers can also apply for the personal loan in the branch or over the telephone. This personal loan rate will be set at 6.4 per cent APR.

These personal loan rates are available on loans from £5,000 to £20,000. Previously, the smallest personal loan customers could apply for was set at a minimum value of £7,000.

"We are keen to offer customers a good deal even when they're not borrowing a huge sum of money," commented Abbey's director of banking Michael Johnson.

He noted that by offering their lowest personal loan rate on personal loans as small as £5,000, people will be able to get affordable loans for smaller purchases or projects without paying high interest rates.

Abbey is one of the UK's leading personal financial services companies.

The range of services includes mortgages and savings, bank accounts, loans and credit cards, long-term investments including pensions and unit trusts, life, critical illness and unemployment cover and household insurance. It also provides offshore banking for expatriates.

Abbey is the sixth largest bank by assets and the second largest provider of mortgages and savings in the UK.

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