Lloyds bank offers flexible alternative in loans market
Lloyds Bank has launched its Flexible Loan, which will allow customers to make as many additional payments as they like and repay their loan at any time without being charged. Michael Ossei, personal finance expert at Uswitch.com,**comments:** “Loans have been under the spotlight for some time now, with banks being criticised for not offering enough flexibility for consumers. Lloyds Bank’s offering appears to be a response to this and is a welcome move in a market that has often been overcrowded with inflexible alternatives and payday loans.
“Loyal Lloyds Bank customers will be delighted to see that there are finally some benefits to staying with your bank for a long time and a 1% discount on their flexible loan offering might be just what is needed to keep these loyal customers loyal. As the Current Account Switch Service continues to gain momentum with 17% more switches year-on-year, we welcome the move by Lloyds Bank to offer an incentive to keep their customers banking with them.”
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