16 July 2020
TSB launches market leading personal loan rate
Today, TSB has launched a new unsecured personal loan rate of 2.8% APR for loans between £7,500 - £25,000 over one to five years – TSB’s lowest rate.
The new rate is available for new and existing customers and can be obtained in branch, online or by telephone.
Key features of the TSB personal loan are:
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Payment flexibility – customers can make overpayments whenever they want and can pay off the loan early if required. Early settlement charges may apply.
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Payment holidays – customers can take a break from their repayments, with up to three one-month repayment holidays every year (see Editors’ notes).
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Loan flexibility – repayment periods of between one and seven years are available.
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Personalised quotes – these can be obtained before applying, without affecting the customer’s credit history.
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Personal Loan calculator – is available online for customers to decide the best deal for them.
This new low rate comes at a time when TSB research indicates that almost 40% of Brits are worried about their finances since the pandemic began and almost a quarter of Brits (24%) feel financially ‘worse off’ because of the pandemic.
Graham Dodds, Head of Loans at TSB, said: “We want to help our customers as much as we can during this time whether it be to support them with consolidating their debt, 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.”
Media Contacts
Avni Raval, Media Relations Manager
T: 07880 276 391| avni.raval@tsb.co.uk
Joseph Eyre, Senior Media Relations Manager
T: 07483 432 546 | joseph.eyre@tsb.co.uk
TSB Media Relations
T: 020 7003 9369 | media@tsb.co.uk
Follow us on twitter: @TSB_News
Notes to editors
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TSB’s new low rate matches that offered by Cahoot, and both offer a market leading rate on the market.
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The research has been conducted by Opinium Research in June 2020 surveying 2,000 UK adults.
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More information on the new low rate and how to apply can be found here: https://www.tsb.co.uk/personal-loans/
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To support customers impacted by Covid-19, TSB introduced a number of measures including support for customers with a personal loan. More information can be found here: https://www.tsb.co.uk/coronavirus/