You would
not normally associate British Gas with personal finance products
but they have launched a highly competitive loan that is on
par with the best personal loan offers available in the UK.
The typical apr for the
British Gas personal loan is 6.2%, on par
with the lowest loan apr offers available at Select Loans.
This typical apr is available for loan amounts in excess of
£5,000.
For loan amounts that are below
£5,000 the typical apr is 10.9%, which seems
to be high. There are many other loan providers that offer
lower rates for these loan amounts, namely the Sainsbury's
Loan.
With a British Gas loan you can take advantage
of the 3 months holiday break free of charge. This will entitle
you for no repayments for the initial 3 months of your loan
term.
If you decide to pay your loan early you
will be charged an early redemption penalty, which amounts
to 2 months interest payments. There is no
arrangement fee for the British Gas Loan and the option to
have option to receive your cheque within 24 hours for an
additional cost of £45.
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