Personal Loan - current rate is 9.06%. (its a variable)- are there better rates?

M

MandaC

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I got a personal loan of €11,400 two years ago with AIB Finance & Leasing when I changed my car. I got my yearly statement today and still owe €7,670, which I will pay off over the next 3 years. The current rate is 9.06%. (its a variable) It rose in January from 8.31% to 8.56% in April to 8.81% in July and it now seems to be 9.06%.

Does anyone know if this is a good rate, or could I get better? I have looked at the best buys personal loans and AIB is listed there at a lower rate, should I just ring up and see why mine is higher?
 
I think Tesco is the lowest offering personal loans at 7.5% fixed and without any exit penalty for early repayment.
 
Thats great, am going to look into it. Think 9.06% is a wee bit high.
 
bacchus said:
I think Tesco is the lowest offering personal loans at 7.5% fixed and without any exit penalty for early repayment.
Click to expand...

I applied for a loan with Tesco at 7.5%. 2 days ago they rang to verify details. I asked about penalties for early payment. No penalties if you pay full amount early however there is no flexibility to pay smaller lump sums to get your loan down.

Does anyone know a place which would offer personal loan like this
 


I have an UB Loan at 6.9 % with this option. I can pay as much off it as I like without penalties. BOI also allowed this before I switched the loan. Just ask them, you never know.
 

GE Money supposedly offer a flexible loan, but it may be worth reading this post before you take up their offer.

If Tesco won't accept irregular payment amounts, save any amounts you want to pay off the loan in a deposit account until you have enough to clear the loan.
 
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