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PPI Claims - About PPI

PPI Claim News - 14/12/2009

 
Loan Insurance: Banks raise cost of loans

The cost of a personal loan from a bank has increased despite record low interest rates, the Daily Telegraph reports today (December 14th).

The cost of a £5,000 personal loan has risen by 1.54 per cent over 2009, now standing at 10.78 per cent.

However, the base interest rate set by the Bank of England remains at 0.5 per cent, having recently been held at this level for a ninth successive month.

A spokesman for the British Bankers' Association told the news provider: "We have also seen the average rates for personal loans increase across the board so consumers who are lucky enough to be accepted for a loan have to pay more too."

Banks have been criticised for putting their profits ahead of the needs of businesses and consumers by borrowing money at low rates and using it to buy bonds and speculate rather than lending it out.

For help making a PPI Claim, Loan claim, PPI reclaim, or a credit card charges claim then call Belmont on 0845 526 0000 or fill in the Quick Claim box to be sent a PPI Claim form, Loan Claim form, PPI reclaim form or credit card charges form.ADNFCR-2776-ID-19511168-ADNFCR



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