What else do I need to know?
With their repayment holidays and fixed monthly payments, TSB want to make taking out a loan as stress free as possible, but if you are struggling to meet your repayments then let them know and they’ll try and give you other options to help you.
There are no set-up or arrangement fees for the loan either, so you’re not paying for additional admin. But if you are late on a payment and you haven’t agreed this with TSB then you will be charged a £25 fee.
You can manage your loan online so you should always know where you stand with it. You can also make over payments and repay your loan in full at any time – but you’ll need to agree this with them first. If you make over payments, then your monthly repayments remain fixed but you’ll pay off the loan quicker.
Is a TSB loan the right move for me?
If you already bank with TSB, then taking out a TSB loan could be a good thing – it’ll mean you can manage all your finances in one place and if you do everything online it’ll give you instant visibility of your money.
But that’s not to say TSB loans are the be all and end all of loans – there are plenty to choose from and you might find a better deal elsewhere so do yourself (and your bank balance) a favour and make sure you compare the options out there using our loans comparison service.
All TSB loan details are based on information provided on www.tsb.co.uk data as of 4 November 2016.