Loan Interest Rates

Interest rates are one of the more important aspects of dealing with UK banks and other lenders… depending upon the type of account or loan that you're dealing with, the interest can either make you money or cost you money.

A variety of different factors can determine the loan interest rates you pay, when applying for a UK secured loan for any purpose.

Unlike chequeing or savings accounts where you want the interest rate to be as high as possible, the loan interest rates associated with loans mean that you'll be paying an additional amount added on to the money that you borrow.

Loan interest rates can depend upon several factors, including your credit rating, national and local interest rates, the type of loan that you're applying for, the amount of the loan, and even the collateral that you use to secure the loan. Generally interest rates are more flexible when securing your loan against a UK commercial or residential property.

Some types of loans have special repayment options that allow you to make payments primarily toward interest if you so choose, and others allow you to refinance your original loan in an attempt to reduce your interest rate and your monthly payment.

Always check your interest rates before applying or accepting a UK loan for any purpose. DBS finance can offer some of the most competitive interest rates based on your lending criteria.