04 February 2020

TSB reduces personal loans rate

  • TSB offers best rate in the market amongst all high street banks
  • Payment flexibility - including overpayments and payment holidays

TSB has reduced the headline rate of interest on its unsecured personal loans from 3.2% to 2.9% APR representative for loans between £7,500 - £25,000. The rate is now the most competitive amongst all high street banks in the market.

The new rate is available to both existing and new customers and can be obtained online, in branch or by telephone and via selected aggregators, including MoneySuperMarket.

TSB personal loan product features:

  • Payment flexibility - customers can make overpayments whenever they want and can pay off the loan early if required. Early settlement charges may apply.
  • Payment holidays – customers can take a break from their repayments, with up to two one-month repayment holidays every year (see Editors’ notes).
  • Loan flexibility - repayment periods of between one and seven years are available.
  • Personalised quotes – these can be obtained before applying, without affecting your credit history.
  • Personal Loan calculator – is available online for customers to decide the best deal for them.

Graham Dodds, Head of Loans at TSB, said:

"At this time of year, many people will be re-organising their finances, thinking of buying a new car, planning their summer holiday or simply consolidating their outstanding debts. Whatever the reason, the new TSB market-leading rate of 2.9% could be the perfect solution as it also allows customers the flexibility to make overpayments and the opportunity to take payment holidays should they need to do so.”

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TSB Media Relations

T: 020 7003 9369 | media@tsb.co.uk 

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

Notes to editors

  • More information on TSB Personal Loan and to apply can be found here: https://www.tsb.co.uk/personal-loans/
  • Repayment holidays – these are subject to approval. If you take a repayment holiday, you may pay more interest overall.
  • Interest rates - the rate offered will depend upon the amount you borrow as well as your individual circumstances. Individual quotes are available without impacting your credit score or history.