Transave has launched a new ‘matched’ APR rate of 5% for personal loans.

The new rate is available to members who are looking to borrow an amount up to but not exceeding the maximum amount of their savings. Members will then be able to continue to build their savings and attract a dividend whilst they repay their loan.

Because the loan is fully secured against savings these cannot be withdrawn until the loan is repaid. To qualify, savings must not be acting as security for other existing Transave loan products and members will not be able to apply to reschedule an existing higher rate Transave loan.

There are no set up charges, early settlement charges or hidden fees.

In addition no credit checks are required so once a loan application is received it should be paid quickly. iI the application is made before 1PM it will normally be paid into the member’s bank account in the same working day.

To qualify for this special loan rate members must be over the age of 18 and save a minimum of £5 per month together with the loan repayment.

For a loan application form contact Transave’s Customer Service team on 0330 175 5555.