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The best personal loans
By Hannah Ricci
Whatever you're planning at the moment, whether it's home improvements, purchasing a new car or you're a recent graduate in search of a job, an unsecured personal loan can come in handy to make your plans more affordable. However, signing up to a dud deal could send your repayments through the roof so it's important to find the best deal on the market.
Despite several interest rate hikes over the past year, there are still some good deals around. Moneyback Bank currently offers the cheapest loan with an APR of 6.3%. Repayments for a £5,000 loan are £152.48 a month over three years without insurance, and £194.09 a month for a £10,000 loan repaid over five years.
Masterloan also charges a competitive 6.5% APR. Repayments for a £5,000 loan are £152.93 a month over three years without insurance, and £195 a month for £10,000 loan repaid over five years.
The financial reality of life post-university
Graduates faced with the reality of juggling student debt and getting on the career ladder could consider taking out a graduate loan to clear expensive credit cards and overdrafts, and tide you over until you start to receive a regular income. There are a number of low rate loans for graduates of specific subjects, such as 2% APR for loans of up to £6,000 for trainee accountants from the Bank of Ireland; up to £5,000 for pharmaceutical graduates, £1,500 for IT graduates and up to £15,000 for trainee medics and dentists.
The lowest standard loan available to all graduates is from Barclays. Graduates can borrow between £500-£10,000 up to two years after completing their course, with an APR of 7.9%.
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