Tesco personal finance announces lowest ever loan rates

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TESCO PERSONAL FINANCE ANNOUNCES LOWEST EVER LOAN RATES Tesco Personal Finance is again cutting the cost of borrowing. For online customers, loans of £15,000 are available from just 7.3% APR, with a typical rate of 7.7% APR*. Those who wish to apply by telephone or by post can also take advantage of new low rates. A £15,000 loan will cost from just 7.9% APR, with a typical rate of 8.3% APR. Customers can apply for a loan via the Internet by logging onto www.tesco.com/finance, make a telephone application by calling 0845 600 60 16, or pick up an application instore. - ENDS - For further information please contact: Stuart Neill Tesco Personal 0131 523 Finance 9013 Monica McCormack Tesco Personal 0131 523 Finance 5533 Alicia Jennings / Lisa Lansons 0207 490 Ashley Communications 8828 Notes to Editors Tesco Personal Finance, the financial services arm of the UK's number one supermarket chain, was launched in July 1997 and offers a combination of Internet, supermarket and telephone banking. Tesco Personal Finance now has 3 million customers and provides a range of low cost, value for money financial services. Tesco Loans - Product Features § Repayments are guaranteed to stay the same throughout the loan § Online loans of £5000-£14,999 are available from 7.7% APR § Offline loans of £5000 -£9,999 are available from 8.3% APR, and £10,000-£14,999 are available from 8.2% APR * Rate excludes Payment Protection Insurance and is correct at 14/08/02. APR applies to a loan of £7,500 borrowed over 5 years, repayable by 60 monthly payments of £152.18. The total amount payable, which includes loan and interest, is £9232.20. 8.3% APR. Apply on Internet 7.7% APR. Calls may be recorded. Loans are subject to status. You must be over 18 to apply for a loan. Written quotations on request. Tesco Personal Finance Limited is a joint venture between The Royal Bank of Scotland PLC and Tesco plc. Registered in Scotland No.173199. Registered office: 42 St Andrew Square, Edinburgh EH2 2YE ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/08/28/20020828BIT00670/wkr0001.doc http://www.waymaker.net/bitonline/2002/08/28/20020828BIT00670/wkr0002.pdf