Best Personal Loan Rate Launched By Alliance and Leicester

Mon, 17 Sep 2007

Alliance and Leicester has launched a new personal loan product, which it claims offers the best rate on the UK market.

The personal loan carries an interest rate of only 6.3 per cent APR and is available to existing Premier or Premier Direct customers and new customers at Alliance and Leicester .

Unfortunately for consumers, the offer is set for a limited period only - from Monday 17th September until 4th November from Alliance and Leicester branches.

The new loan from Alliance and Leicester could see consumers saving as much as £700 on a loan of £15,000, compared to personal loan rates available from other big name banks .

Richard Al-Dabbagh, senior personal loans manager at Alliance and Leicester, said: "We continue to offer our customers best of breed deals across our range of products, and are constantly looking for additional ways to reward existing customer relationships ."

"This loan offer, the best in the UK, is available to both new customers who might be switching their current account away from the Big Four Banks, and our existing Premier and Premier Direct customers who already benefit from the best all round value current account . "

"We have consistently led the field when it comes to our current accounts offering, and our loans offer now makes us an even more attractive proposition for customers," he added.

The UK base rate of interest currently stands at 5.75 per cent, but some market commentators expect it to start sliding in the near future.
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