HSBC Personal Loan effectively @ 6.9%pa - HotUKDeals
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HSBC Personal Loan effectively @ 6.9%pa

naru6705 Avatar
8y, 4m agoFound 8 years, 4 months ago
HSBC is offering Personal Loan at 8.9APR but there is a promotion going on.. it might cost you just 6.9pa

With Repayment Reward from HSBC, we'll refund 25% of the interest you have paid on the loan when you complete your loan repayments. This offer only applies to loans with more than 24 scheduled repayments and it will not apply if the loan is repaid early by you or terminated by us.
Based on a £9,000 loan over a 36 month period, the repayment reward reduces our 8.9% APR typical rate for car or home improvements to an equivalent rate of 6.9% pa.
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naru6705 Avatar
8y, 4m agoFound 8 years, 4 months ago
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#1
Im pretty sure that 8.9% typical. A majority of people will be in the position they need the loan, so the bank/building society put the rate up to squeeze a bit more cash out of you. Thats my experience anyway.

That said, i guess 25% of your interest back is good, but probly forfeit if you miss/are late for a payment..so be careful

BFM
banned#2
BurningFeetMan


That said, i guess 25% of your interest back is good, but probly forfeit if you miss/are late for a payment..so be careful

BFM


You have to pay by DD, so no reason to forget, unless your finances are really messed up. I'm sure the typical rate was only 7.9% APR (instead of 8.9% ) only afew days ago :thinking:
#3
id love to see how many people actually end up paying 6.9% on that one, the old "typical APR" spiel,lol
#4
course Barclaycard are doing 6.8% for the life of the balance not sure if they charge a transfer fee though
#5
LongDongDave
You have to pay by DD, so no reason to forget, unless your finances are really messed up. I'm sure the typical rate was only 7.9% APR (instead of 8.9% ) only afew days ago :thinking:


So why vote cold when I could not find any other Loan at 6.9%pa. I tried money supermarket, uswitch and moneysavingexperts ?? What is wrong if pay my installments on time?? :thinking:

I wish to take the loan invest overseas.... please advice.
banned#6
jemo
id love to see how many people actually end up paying 6.9% on that one, the old "typical APR" spiel,lol


I don't remember ever being offered an APR higher than the quoted one.
Every loan, credit card & mortgage I've taken out over the last 10 years or so, has come out at the quoted "typical APR".

I note, for this deal, you also have to operate an HSBC current account.
#7
If it's so cold then at least show me, which one is cheapest?
#8
POPS is right you have to operate a current account with HSBC to get that 25% benefit and you'll have to closely look out the terms and conditions of the loan to see "what if you miss a repayment?"

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Abby Nelson
[COLOR="Black"]internet merchant account[/COLOR]

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