AA Financial Services has reduced the rate for personal loans to AA members to 6.4% APR representative at a time of growing optimism in the new car market.
Sainsbury's Bank has reduced the rate on its small and medium sized personal loans, keeping it at the top of the best buy tables.
Providers including Sainsbury's Finance and Derbyshire Building Society have announced changes to rates on personal loans meaning the average rate for the top five personal loans at £7,500 now stands at 6 per cent.
Barclays has launched its market leading personal loan rate starting at 5.9 per cent APR, giving current account customers the best rate on the market for loans between £10,000 and £25,000.
Tesco Bank has reduced its interest rates on loans between £5,000 and £25,000, giving customers some of the best rates currently available in the market.
Sainsbury's Bank is offering a Price Promise Guarantee whereby if any customer successfully applies for its standard personal loan but secures a better rate elsewhere with another provider, the supermarket bank will beat it.
The launch of a new personal loan rate of 5.9 per cent from Sainsbury's Bank for borrowing between £7,500 and £15,000 taken over 1-3 years, marks the first time rates have fallen below 6.0 per cent since September 2007.
Derbyshire Building Society, part of the Nationwide Group, is offering a personal loan with a market-leading rate of 6.0% APR Representative for loans of between £7,500 and £14,999.
Sainsbury's Finance has reduced its Standard personal loan rate to a best buy 6.1% APR Representative for loans between £7,500 and £14,999.
From 5th January 2012, M&S Money is reducing the rate on its personal loans from 6.4 per cent to 6.0 per cent APR (representative). The offer applies to personal loans between £7,500 and £15,000 over 12 to 60 months.
The Co-operative Bank has further reduced rates across its entire personal loan range by 1% APR.
Unsecured personal loan rates for those borrowing over £7,500 have hit their lowest levels since the start of the credit crunch, according to analysis from Britain's number one comparison site, MoneySupermarket.
Nationwide is cutting its personal loan rate to 6.1% APR Representative - the lowest rate Nationwide has ever offered, and once again, the UK's lowest personal loan rate.
Tesco Bank has cut its interest rate on loans between £7,500 to £14,999 for new customers from 6.7% APR to 6.4% APR representative.
Analysis of the unsecured loan market by independent financial research company Defaqto has found that since the base rate reduced to 0.5% in March 2009:
31 to 45 of 192 for Personal Loans