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First Direct Loans, Are They The Best Deal?
Let over 200 Top UK lenders compete against First Direct to give you the lowest rate personal loan available. Fill out the form below to see if you can get a better deal.
Our service is completely free, you pay nothing and there is no obligation. See how much you can save! |
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NO PAYMENTS for the first 5 months on many loans! |
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You can borrow up to £100,000. |
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Spread your payments out and make them more affordable. Repayment periods from 3-30 years. |
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Arrears, CCJ's or bad credit? No problem - All Accepted. |
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Borrow up to 100% of your home's value. |
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First Direct Loans are provided by First Direct Bank, which is a division of HSBC bank. They provide mortgages, loans, credit cards, savings, investments, and insurance. They have 1.2 million customers with 885,000 of them using internet banking.
First Direct is currently offering a 1% reduction on their APR for personal loans for amounts typically between £5,000 - £25,000. That is a typical 7.9% instead of the usual 8.9%. They offer immediate decisions on new loan requests. You could potentially have the money in your account in minutes. If your application is successful, you could have up to £25,000 and that is instant access to your money. After that, there are fixed monthly repayments. Interest is calculated from the day you get your money.
Regardless of why you require a loan, First Direct loans can provide you with what you need. It could be for a new car, the holiday you so desperately need, home improvements, or anything else you can think of. You can find quickly find out how much you could borrow and the costs for paying back the loan. Your monthly payments are always fixed payments so you know what to expect throughout the lifetime of your loan.
Here are some common questions people have concerning First Direct Loans.
How much can you borrow? The minimum you can borrow is £1,000. The maximum amount is £25,000. You can borrow amounts in increments of £50.
How long do I have to pay back the loan? The minimum pay back term is 12 months. The maximum pay back term is 7 years. The terms are available in 6 month increments.
For what purpose can I use my loan? There are no restrictions on how you use your loan from First Direct. That is true as long as you do not use the funds for business purposes or anything illegal.
How do the repayments work? Your monthly payments are fixed for the life of your loan. You will always know the exact amount you must repay. You can repay your loan at any time. However, if you pay the loan off early, there is a one time charge equal to one month’s interest. Your interest rate is based on your credit worthiness.
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