5 June 2017

TSB launches market-leading personal loans rate

2.8% APR on amounts between £7,500 to £25,000

Personalised quotes on a TSB loan without affecting credit rating

TSB has reduced its personal loans rate for amounts between £20,000 and £25,000 to 2.8% APR.  This means TSB’s market-leading personal loans rate of 2.8% APR now applies to loans between £7,500 and £25,000. The rate is applicable for all loan terms between one and five years.

TSB is committed to helping people to ‘borrow well’, which means helping them to borrow money in a way that makes the best financial sense for them.  It is essential that people not only borrow an amount they can afford to repay and at a competitive interest rate but understand the product’s features such as whether they can take a payment holiday or if there are fees should they pay off the loan in full early.

Nick Smith, Head of Loans at TSB, says: “By launching our market-leading personal loans rate we’re helping customers to borrow well and giving them access to a competitive loan rate.  Whether they’re consolidating other loans, planning home improvements or simply looking to finance a purchase such as a car, we’re here to help."

How to apply for a TSB loan

Customers can apply online at tsb.co.uk, by phone on 0345 835 3861 or in a TSB branch.  Unlike with some personal loans providers, customers will receive a personalised quote instantly without affecting their credit rating.

TSB current account customers could get the money in their account the same day.  TSB loans all offer the flexibility for customers to make overpayments, so they can reduce the term and amount of interest paid should they so wish.

For further information:

About TSB

TSB was built to bring more competition to UK banking – to be a real challenger to the big banks and to deliver the kind of banking the people of Britain want. TSB only serves local customers and local businesses, to help fuel local economies, because communities thriving across Britain is a good thing for all of us.

We have a simple, straightforward and transparent banking model and make clear on our website how we operate and make money. We offer the products and services people tell us they want, with none of the funny stuff people normally associate with traditional banks.

Our 5 million customers, award winning mobile and digital banking, nationwide network of branches and 8,200 Partners mean we are big enough to make a difference, but small enough to be an agile challenger to the entire market.

For further information about TSB Bank plc, please visit our website www.tsb.co.uk.

 


Media Contacts

Follow us on twitter: @TSB_News


Notes to editors

  • Other loans available. The amount that you can borrow with a personal loan will depend upon your personal circumstances, however we provide unsecured loans from £1,000 up to £25,000 for a term of between 1 and 7 years.
  • Lending is subject to status and lending criteria.
  • Borrowers must be aged 18 or over and a UK resident (over 21 to apply online).
  • More information on TSB loans can be found at www.tsb.co.uk/loans.