Best Selling Personal Loans for people with good credit ratings
The top five selling personal loans in the UK at the moment all have interest rates of below 6.5 per cent. The Moneyback Bank offers an online loan at a rate of 5.9 per cent. Alliance and Leicester also offer a personal loan at the same rate of 5.9 percent. Slightly higher, coming in at 6.1 percent, are the personal loans from Halifax and Northern Rock. First Plus Exclusive offers a loan at 6.3 percent.
All of these rates are for online applications, although some of the lenders offer a range of application methods. The loans will only be approved for borrowers with good credit rates. They are also offered on a secured basis to homeowners. If you are looking for loans on an unsecured basis the rates are likely to be a little bit higher.
The Moneyback Bank offers you the option of earning back a proportion of the money that you spend on payment protection insurance. However, it is probably not advisable for all customers to opt for payment protection insurance in the first place. Alliance and Leicester now offer a fully automated online service which means that you can finalise the entire loan online and get your hands on that money faster. The Northern Rock 6.1 percent rate is fixed, while the Halifax loan offers a three month repayment holiday for the first three months of the loan.