Check the best personal loan rate at NatWest

Bank loans have been tougher to come by since the credit crunch. Banks have been running scared, and interest rates have become unattractive or positively prohibitive. With the Government applying pressure to the banks that were bailed out though, there may be some glimmers of hope. We checked the personal loan rate on offer at the NatWest.

If you are already a current account holder with NatWest (natwest.com), you can apply for a personal loan of between £7,500 to £14,950. The APR on these loans is 8.9% fixed for the duration of the loan.

As an example, if you borrowed £10,000, monthly repayments of £872.48 would clear the loan within one year. Repayments of £454.83 would clear the loan within 2 years, and over 3 years, monthly payments would be £315.95. Repayments can be spread over up to 5 years.

If you are an Advantage Gold customer, you can save 1% on the interest rate, but the monthly fee for this kind of account is £12.95. Although there are other benefits for Gold customers, it's worth doing the sums to see if your loan would work out cheaper by paying the account fee.

To apply you can fill in the online application form, call 0800 200 400 or visit the branch. Applicants have to be over 18, have a good credit history and a regular income.

Check comparison sites like moneysupermarket.com or thisismoney.co.uk to compare the loan rate and conditions offered by other high street banks. Although it is best to apply for a loan with a bank where you already have a credit history and a long-standing relationship, other banks may also be willing to offer loans.


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