Thrifty Loans

Let’s have a quick look at the top three personal loans available right now.

First up is Your Personal Loan. There is a minimum age of 21 years. There is no arrangement fee and an early redemption fee of one month. You can take repayment breaks. There are no special incentives for this loan. The minimum loan amount is £5,000 up to a maximum of £25,000. The period of the loan can be from 12 months to 84 months. The APR is 6.3%. To borrow £5,000 over three years would mean repayments of £152.79 per month.

The Moneyback Bank Personal Loan has similar features to the Your Personal Loan, but has an incentive attached. If you take out payment protection insurance you will received money back each year for the life of the loan. Examples are, for a loan of £3,000 to £5,000 you would get £10 back, up to for a loan of £15,001 to £20,000 you would get £40 back. The minimum loan amount is £3,000 up to a maximum of £20,000. The loan period can range from 12 months to 60 months. The APR on a £3,000 to £5,000 loan is 7.7%; on higher amounts it is 6.3%, and on £5,000 over three years repayments would be £152.79 per month.

Third on the list is the Bradford & Bingley Personal Loan. Age, arrangement fee, early redemption fee and repayment terms are the same as for the other loans mentioned above. There are no incentives The minimum loan amount is £2,000, and to £4,950 the APR is 13.9%. The loan range from £5,000 to £25,000 has an APR of £6.70; all loans have a minimum period of 12 months and a maximum of 84 months. On £5,000 over three years repayments would be £153.70 per month.

All loans here are available for joint applications, have possible debt consolidation and require direct debit repayments.