The effective fixed interest rates of outstanding consumer credit other than overdraft in the United Kingdom (UK) was over 7.8 percent in March 2024. Meanwhile, the floating rate for secured loans and unsecured consumer lending was similar. The largest difference was between secured loans with a floating-rate and a fixed rate.
Average effective interest rates of outstanding household loans in the United Kingdom (UK) from January 2006 to March 2024, by type of credit and rate
Characteristic
Secured loans floating-rate
Secured loans fixed-rate
Consumer credit floating-rate*
Consumer credit fixed-rate*
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Bank of England. (April 30, 2024). Average effective interest rates of outstanding household loans in the United Kingdom (UK) from January 2006 to March 2024, by type of credit and rate [Graph]. In Statista. Retrieved July 23, 2024, from https://www.statista.com/statistics/1359470/effective-interest-rates-of-outstanding-household-loans-uk-by-type/
Bank of England. "Average effective interest rates of outstanding household loans in the United Kingdom (UK) from January 2006 to March 2024, by type of credit and rate." Chart. April 30, 2024. Statista. Accessed July 23, 2024. https://www.statista.com/statistics/1359470/effective-interest-rates-of-outstanding-household-loans-uk-by-type/
Bank of England. (2024). Average effective interest rates of outstanding household loans in the United Kingdom (UK) from January 2006 to March 2024, by type of credit and rate. Statista. Statista Inc.. Accessed: July 23, 2024. https://www.statista.com/statistics/1359470/effective-interest-rates-of-outstanding-household-loans-uk-by-type/
Bank of England. "Average Effective Interest Rates of Outstanding Household Loans in The United Kingdom (Uk) from January 2006 to March 2024, by Type of Credit and Rate." Statista, Statista Inc., 30 Apr 2024, https://www.statista.com/statistics/1359470/effective-interest-rates-of-outstanding-household-loans-uk-by-type/
Bank of England, Average effective interest rates of outstanding household loans in the United Kingdom (UK) from January 2006 to March 2024, by type of credit and rate Statista, https://www.statista.com/statistics/1359470/effective-interest-rates-of-outstanding-household-loans-uk-by-type/ (last visited July 23, 2024)
Average effective interest rates of outstanding household loans in the United Kingdom (UK) from January 2006 to March 2024, by type of credit and rate [Graph], Bank of England, April 30, 2024. [Online]. Available: https://www.statista.com/statistics/1359470/effective-interest-rates-of-outstanding-household-loans-uk-by-type/