24 October 2017

Britain’s best loan just got better

  • TSB’s lowest ever 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 £7,500 and £25,000 to 2.8% APR.  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: “Our lowest ever rate means that Britain’s best loan just got better.  Unlike some providers, simply getting a loans quote with TSB doesn’t affect your credit rating.  So if you’re thinking about consolidating other loans, planning home improvements or looking to finance a car, we’re here to help you to borrow well.” 

Why TSB’s loan is Britain’s best

Unlike with some personal loans providers, customers will receive a personalised quote with the APR we’ll charge instantly without affecting their credit rating.

TSB current account customers could get the money in their account the same day.  For those who don’t bank with TSB, they could still have the money in their account the next day once they’re approved. 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.

Customers can apply online at tsb.co.uk, by phone on 0345 835 3861 or in a TSB branch. 

The information contained in this press release is intended solely for journalists and should not be used by consumers to make financial decisions.

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Notes to editors

  • TSB’s previous loan rate for amounts between £7,500 and £25,000 was 2.9%.
  • 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.