10 March 2010 :
Compare Credit Cards, Pet Insurance and Savings Accounts
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Did you know?
The first credit cards were given out in 1950 to just 200 people. They were only accepted in 14 restaurants in New York.
Source: About.com (http://history1990s.about.com/
od/1950s/a/firstcreditcard_1.htm)
Unsecured Loans
An unsecured loan is a loan that doesn't have anything put up as security by the borrower such as a home which can be taken to cover the cost if a borrower defaults. Because there is no security it means that the lender is taking a greater risk and that in turn means that the interest rate of the loan will be relatively high. Read more...>
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NationwideLow rate loan with repayment terms of 1 to 7 years |
7.6% | £7,500.00 |
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Sainsbury's Bank LargeFast online decision |
8.7% | £15,000.00 |
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| ** 8.7% APR typical for Sainsbury's shoppers with a Nectar card ** | ||||
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Bank of ScotlandFast Online Decision + No repayments for 3 months |
8.1% | £1,000.00 |
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Compare Unsecured Loans
Even though the lender has no physical security they will of course have in place procedures for recovery of their debt. Although there is no asset to lose directly there will still be serious financial consequences to failing to pay off the debt.
In an unsecured fixed personal loan the amount, interest rate and time period of the loan are all fixed at the start of the agreement. In this way repayment budgeting is made clear and can be planned for.
If you are considering paying back the loan at an earlier date if possible to reduce your interest costs you should check whether there are any early repayment penalties before you take the loan.
In an unsecured flexible personal loan you can take out a variable amount up to a set limit and only pay interest on what you have borrowed. Again, that increased flexibility may well be off-set by a further increased interest rate.
As with all loans calculating a realistic amount that you can afford to pay back each and every month is an important consideration and from that you can begin to choose which loan is best for you.
Top Tips for Unsecured Loans
- Unsecured loans tend to be more expensive because the lender is taking a bigger risk
- Fixed personal loans allow you to accurately budget your repayment schedule
- Flexible personal loans are harder to find in the market
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- How to reduce the effects of the credit crunch 18 Mar 2008
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Finance News
Fairer terms from credit card providers
12-Dec-08
12-Dec-08
Credit card rates have not decreased with the base rate
Product Offers
Please ensure that you fully read the terms & conditions of any product or policy before you decide to proceed and are fully aware of the total costs and the benefits and any exclusions or limitations applicable to the product or plan.
Please note that the product links will take you direct to the Issuer or Insurer's site direct and we cannot be held responsible for the information which they provide within their own sites. On some comparison tables we use a star rating which rates products by visitor popularity.
Please ensure that you fully read the terms & conditions of any product or policy before you decide to proceed and are fully aware of the total costs and the benefits and any exclusions or limitations applicable to the product or plan.
Please note that the product links will take you direct to the Issuer or Insurer's site direct and we cannot be held responsible for the information which they provide within their own sites. On some comparison tables we use a star rating which rates products by visitor popularity.