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Alliance & Leicester has reduced the internet rate on personal loans from 7.4% to a typical rate of just 6.9% APR - but only until 10am on Monday 14 April. It applies to loans of £5,000 to £20,000 arranged at

The rate of 6.9% APR applies to loans for any purpose, including those taken out under Alliance & Leicester's Car Purchase Plan (CPP). CPP lets borrowers reduce their monthly repayments by enabling them to defer up to 60% of the value of their loan.

Andy Bayes, Head of Personal Loans, said: "This special rate offers a significant saving over those available elsewhere online."


For further details or to arrange interviews:

Alliance & Leicester Press Office 0116 200 3355

Notes to editors:

Typical personal loan and Car Purchase Plan rates available via internet

Applicable until 14 April

£1,000-2,499* 17.0%

£2,500-4,999 11.9%

£5,000-20,000 6.9%*

Standard rates

£1,000-2,499* 17.0%

£2,500-4,999 11.9%

£5,000-20,000 7.4%

*Minimum loan under CPP is £2,500

Car Purchase Plan

The Car Purchase Plan enables buyers to borrow up to £20,000 over four years, and defer up to 60% of the loan. Finance is not secured against the car and CPP means they are not tied to one vehicle or dealer.

At the end of the loan period, they can:

- sell the vehicle to pay off the remainder of the loan;

- change car and use the trade-in value of their old vehicle to clear the deferred amount;

- keep the vehicle and continue making the same fixed low monthly payments until the whole amount is cleared.

Features of A&L's car-dedicated website include:

* Tips on buying and selling cars

* Parker's Price Guide

* Car data checks

* Company car tax calculator

* Search through thousands of cars for sale

* Motor industry news

This press release was distributed by ResponseSource Press Release Wire on behalf of Alliance and Leicester in the following categories: Consumer Technology, Personal Finance, Business & Finance, Computing & Telecoms, for more information visit