The rate of 6.4 per cent for loans of more than £7,000 marks the loan out as one of the lowest rates available on the high street.

Loans of between £5,000 and £6,950 carry a typical APR rate of 7.9 per cent, whilst loan values of between £3,000 and £4,950 carry a rate of 17.7 per cent, and 19.9 per cent is applicable to loans of between £1,000 and £2,950.

Borrowers can choose the loan and repayment period that best suits their budget. Any amount between £1,000 and £20,000 can be borrowed in multiples of £50, and loan holders can repay their loan at six-monthly intervals over between one and eight years.

Monthly repayments are fixed until the end of the loan, regardless of movement in interest rates, and there are no set-up fees or deposit to pay.

Abbey’s special offer loan rate is available from June 29th to August 31st.

To find out more about personal loans, click here.

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