6 November 2014

TSB cuts loan rates for loyal customers

TSB has today launched its lowest ever personal loan rate for existing TSB bank account customers.

The Bank is reducing rates for personal loans from 6.9% APR representative to 4.9% APR representative on amounts between £7,500 and £20,000 and from 7.4% APR representative to 5.4% APR representative on loans between £20,001 and £25,000. The new rates are applicable for all loan terms between one and five years.

Customers can apply for a TSB loan in branch, online or over the telephone and will receive a personalised quote instantly without leaving a credit footprint. Customers' bank accounts are credited instantly with the loan amount when they apply in branch or online * .

TSB has reduced its personal loan rates to help customers to borrow well, by giving them access to a competitive loan rate and helping people make plans as they look to the future.

Nick Smith, Head of Loans at TSB says: "We are pleased to be able to reward our customers' loyalty by offering them TSB's lowest ever loan rate. We know our customers like to bank with us in a variety of ways which is why we've made it easy to apply for a loan in branch, over the phone or online. Applying for a personal loan with TSB is quick and easy and, in our branches, nine out of every 10 personal loan applications are approved."

You can find more information on TSB loans at www.tsb.co.uk/personal-loans .

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Notes to editors

TSB loans are available to customers who have held a TSB current account for more than three months, aged 18 or over and a UK resident. Applications are subject to TSB's personal loans eligibility criteria and an assessment of circumstances. Maximum loan size is £25,000.

*Loans are transferred between the hours of 9am-8.30pm or by 9am the following day outside of these times.