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What’s the difference between a Fixed Rate and Variable Rate Personal Loan?

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Last updated 13 February 2015

Variable Rate Personal Loan interest rates may go up and down during the loan term. You can make early or additional repayments at any time at no extra cost. You can also access any additional repayments if you need to (fees may apply).

With a Fixed Rate Personal Loan the interest rate doesn’t change during the  term of the loan, so your repayments will remain the same. You'll know exactly what you need to pay each month and be protected from any increase in interest rates.

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