Alliance and Leicester are offering an unsecured loan with an annual percentage rate of just 6.9 per cent. Both new and existing customers are eligible for the loan, which is advertised as a multi-purpose loan which could be used to pay off Christmas expenditure or to fund a future purchase.
Alliance and Leicester claiming they will release funds on the same day the loan is applied for, so long as the application is made before 12:30pm on a working day.
The loan may be indicative of tumbling interest rates, with the further base rate cuts forecast to be made by the Bank of England expected to result in banks bringing rates down as low as five per cent, some analysts have claimed.
Alliance & Leicester Offering 6.9pc Loans
Alliance & Leicester Offering 6.9pc Loans
Thu, 03 Jan 2008
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