Ratesetter Personal Loan

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Ratesetter Bank is one of the award-winning leading banks in the race of financial banking. They take care of their customers and come up with excellent strategies to raise your finance. They provide competitive personal loans to their customers to use for a broad range of circumstances, like debt consolidation or a house renovation, etc. Plus, you can also get short-term personal loans from this company with quite simple repayment options. Let’s have a quick look at the features, requirements, and benefits of Ratesetter Personal loan. 

Features of Ratesetter Personal Loans:

Ratesetter offers flexible, low-rate personal loans from £3,000 to £35,000 with easy repayment terms of over 1 to 5 years. Their representative APR is as low as 3.0%. However, the final interest rate is subject to change based on the customers’ status, affordability, credit score, and financial circumstances.

They don’t charge any hidden fee or organization fee to secure a personal loan. You can top-up your current loan and can get another loan within six months. They don’t charge any hidden fee or penalties for making an extra payment or the whole loan before the due date. You can even change your payment date to one that suits you best.

Consider a representative example: If you borrow a loan of £3,000 with a repayment term of 4 years. With a loan of this size and loan terms, the representative APR will be 11.4% based on the fixed interest rate of 8%. This means the total payment will be £3,710.88 with monthly increments of £77.31.

Requirements to Apply?

To apply for a personal loan at Ratesetter Bank, applicant must be

  • 21 or over,
  • a permanent UK resident with a regular income source,
  • holds a UK bank or building society account,
  • has a good credit score,
  • and must be willing to pay back the loan.

Most importantly, the applicants must don’t declared involved in bankruptcies, Individual Voluntary arrangements (IVAs), Debt relief orders (DRO), or Trust deeds.

If anybody has a bad credit score, he may face difficulties or receive different APR rates for securing a personal loan. The better your credit score is, the more your chances to secure a loan, and the lower will be your APR rate. 

How to Apply for a Personal Loan at Ratesetter Bank?

If you want to secure a loan at Ratesetter Bank, you can apply online at their website and get instant quotes according to your needs and financial circumstances. When you apply, they will do a soft credit check that won’t affect your credit score and provide the best suitable quote according to your credit score. Plus, you don’t need to give any photo ID or bank statement to get a quote from the Ratesetter. Once you get approved for the loan, they will get transferred to your account within the next working day.

So here was a short breakdown of how personal loans work with Ratesetter Bank. As you can see, securing a loan from Ratesetter is far easy, straightforward, and flexible. Their prices are carefully personalized for customers without any worrisome fees or extras.

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