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Profiteering banks raise personal loan rates as coronavirus debt fears grow

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High street banks have increased interest rates on new personal loans amid concerns over the long-term finances of borrowers affected by the coronavirus outbreak.

Market data compiled by Moneyfacts, the financial analysts, showed that the average rates charged to borrowers have increased since the end of 2019. The rate on a £5,000 three-year loan from a high street bank has risen from 7.6pc in December to 7.8pc today. 

 

 

https://www.telegraph.co.uk/personal-banking/personal-loans/banks-raise-personal-loan-rates-coronavirus-debt-fears-grow/


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But BOE has reduced the base rate, so again the Banks show their Shylock nature


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