Personal Loan HSBC

PIPPER_2

I have been offered 7K (over 5 years) @ 6.5% starting rate
I get first 3 months free, which brings it to 5.1%; can take payment holiday every January for duration of loan.
After loan is paid, I get 1/4 of interest paid back = £340
The final %rate comes down to 4% when you take into account all the benefits

My present minimum payment on my visa is £140 on balance of 4800 and propoesed protected repayments covering my od also is £166.74 month.
Sounds like a good deal, has anyone had any experience?

PIPPER_2

bump! anyone!?

_Andy_

It's a good deal provided you keep the loan until the end of the term. HSBC only launched this offer because they know the vast amount of people will have re-consolidated by the end of the term.

tonyivb

I've recently took out a loan with HSBC as it seemed a very good deal.

Once you include the 25% interest refund it is cheaper than anything else I could find. There was no hard sell on the PPI and the whole process took about 15 minutes.

One point... you say 6.5% starting rate... isn't this rate fixed for the whole loan period?

_Andy_

Yes the rate is fixed. The only variable rate is the Flexiloan product.

PIPPER_2

thanks for the input, have been sitting on it for a few days but may well go and sign in the next day or two