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Coronavirus: Banks increase loan costs as debt threatens millions

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Banks are raising the cost of personal loans and overdrafts as millions of people struggle financially because of the coronavirus pandemic.

High street banks and smaller lenders have increased rates on three-year loans since December, according to the data analysis company Moneyfacts.

Some of the cheapest personal loan rates have been withdrawn in the past days after a flood of applications.

 

 

https://www.thetimes.co.uk/edition/news/coronavirus-banks-increase-loan-costs-as-debt-threatens-millions-2pxtl7dxh


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