Lloyds Bank launches Flexible Loan

Lloyds Bank launches its Flexible Loan to help customers take control of their finances and get debt free faster.

Customers who take out the new Flexible Loan will be able to make as many additional payments as they like and repay their loan at any time without any additional interest charges.
 
Following extensive customer research, we know that over 90% of our customers want the flexibility to overpay on their loan and settle early without additional charge.  As a result, Lloyds Bank has introduced the Flexible Loan to help customers manage their finances more effectively.
 
The Flexible Loan offers an APR of 6.4% on loan amounts from £7,500 to £25,000, over one to five years to existing current account customers. This product currently benefits from a loyalty discount of 1% for customers that have held a Lloyds Bank current account for five years or more.
 
Chris Baker, Head of Lloyds Bank Personal Loans, says: “We are always listening to our customers to look for ways to provide better products and services. Customers told us they want to make additional payments and repay early so we have responded accordingly; our new Flexible Loan will help customers to become debt free faster and allow them to better manage their finances.”