23 August 2006
Customers who repay their first direct personal loan on a pre-agreed date will be refunded 25% of the interest they pay during the time scale of the loan.
Fist direct, which bills itself as the UK's most recommended bank, will pay the cashback sum to the borrower after the final instalment is made.
The offer is open to any loans between £5,000 and £25,000 as long as they were taken out before October 2nd 2006 and have a payment period of at least two years.
An example of the type of cashback a customer could expect on a £10,000 loan over three years at a 6.9% APR interest rate would be £266.93. This cashback sum effectively reduces the rate of interest on the loan to 5.3% per year.
Customers who have a current account with first direct are eligible to apply for a personal loan with the bank.
Make a personal loan comparison with uSwitch.com and find the personal loan best suited to your needs.
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