TSB has launched a new unsecured personal loan rate of 2.8% APR for loans between £7,500 and £25,000 over one to five years, the bank’s lowest rate.
The loan will allow customers to make overpayments whenever they want and the opportunity to pay off the loan early if required, and also includes payment holidays – meaning customers can take a break from their repayments, with up to three one-month repayment holidays every year.
The new rate comes at a time when TSB highlighted its own research that indicated almost 40% of Brits are worried about their finances since the pandemic began – with 24% feeling financially “worse off” because of the COVID-19 pandemic.
TSB head of loans, Graham Dodds, commented: “We want to help our customers as much as we can during this time whether it be to support them with consolidating their debit, replacing or buying a new car, or making home improvements.
“Whatever the reason, both new and existing customers will have access to a market leading personal loan rate to help them feel money confident.”
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