Loans 9.3% APR representative2
Representative example: 9.3% APR based on an assumed unsecured loan amount of £8,000 with 60 monthly repayments of £165.68 at an annual interest rate of 8.90% (fixed). Total amount payable £9,940.80
Overdrafts 10.81% EAR3 representative4
Applies to unsecured overdrafts up to £25,000. Charges apply. 1.5% arrangement fee, subject to minimum scale charge of between £100 and £250. Interest calculated daily and charged monthly.
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18 out of 10 relates to loans and overdrafts in the period November 2013 to March 2017
2The representative APR is an illustration of the rate that the majority of customers will receive. If a loan is described as having a particular representative APR, then we expect to offer that rate or better to at least 51% of the applicants we accept. Other customers may get a different rate based on their individual circumstances.
Our representative APR applies to all unsecured loans with a borrowing amount of up to £25,000 for businesses with a turnover of up to £25 million. This figure is not necessarily the rate you will be receiving and is for illustrative purposes only.
3EAR stands for equivalent annual rate. It is the rate you would pay if you go overdrawn to the full limit of your facility for the entire year. It takes into account the interest rate you are charged as a result and how often it’s charged – in this case interest is calculated daily and charged monthly. It then takes into account the effect of compounding – charging interest on interest – on your debt. Charges for unarranged overdrafts are charged separately.
4The representative EAR is an illustration of the rate that the majority of customers will receive. If an overdraft is described as having a particular representative EAR then we expect to offer that rate or better to at least 51% of the applicants we accept. Other customers may get a different rate based on their individual circumstances.
Our representative EAR applies to all unsecured overdrafts with a borrowing amount of up to £25,000 for businesses with a turnover of up to £25 million. This figure is not necessarily the rate you will be receiving and is for illustrative purposes only.
Any property given as security, which may include your home, may be repossessed if you do not keep up repayments on your mortgage or other debts secured on it.
All lending is subject to a satisfactory credit assessment and we will need your permission to carry out a credit check on you and your business.. You should not apply for an amount that you cannot comfortably afford to repay now and in the future to avoid the possibility of legal action
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Lloyds Bank plc Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 2065. Telephone: 0207 626 1500.
Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under Registration Number 119278.
Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS). Please note that due to FSCS and FOS eligibility criteria not all business customers will be covered.