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: 

• 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 three 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 the customer’s credit history. 

• 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.”