Personal Loans Rise To Highest Levels In 10 Years

Banks have increased interest rates on personal loans despite the Bank of England base rate being just 0.5%.

On average banks are charging 12.7% on a £5000 loan which is the highest it has been for over 10 years.

The increase also comes as banks try to recover from the £9bn they are set to lose in PPI claims.

Debt Support Trust is a registered debt advice charity (SC041902) providing debt advice on a range of debt solutions including;

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