M&S Money reveals leading loan rate

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.

M&S Money offers personal loans from £1,000 to £25,000, with flexible repayment terms and the option of making no payments for the first three months*, subject to lending criteria.

Colin Kersley, M&S Money Chief Executive, said: "We hope that our new market?leading loan rate of 6.0 per cent will be attractive to customers. The current economic climate may be squeezing family budgets, but with our lowest loan rate for over five years, we are offering customers the opportunity to reduce the cost of their borrowing in the New Year."