The effective fixed interest rate of new consumer credit in the United Kingdom (UK) reached over eight percent in March 2024. During the first half of 2020, the interest rates for all new household lending declined sharply. However, since July 2020, interest rates for secured and unsecured loans have soared. In the first quarter of 2024, the average interest rates of personal loans in the UK remained relatively stable.
Average effective interest rates of new household loans in the United Kingdom (UK) from January 2006 to June 2024, by type of credit and rate
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Bank of England. (July 30, 2024). Average effective interest rates of new household loans in the United Kingdom (UK) from January 2006 to June 2024, by type of credit and rate [Graph]. In Statista. Retrieved December 21, 2024, from https://www.statista.com/statistics/1359472/effective-interest-rates-of-new-household-loans-uk-by-type/
Bank of England. "Average effective interest rates of new household loans in the United Kingdom (UK) from January 2006 to June 2024, by type of credit and rate." Chart. July 30, 2024. Statista. Accessed December 21, 2024. https://www.statista.com/statistics/1359472/effective-interest-rates-of-new-household-loans-uk-by-type/
Bank of England. (2024). Average effective interest rates of new household loans in the United Kingdom (UK) from January 2006 to June 2024, by type of credit and rate. Statista. Statista Inc.. Accessed: December 21, 2024. https://www.statista.com/statistics/1359472/effective-interest-rates-of-new-household-loans-uk-by-type/
Bank of England. "Average Effective Interest Rates of New Household Loans in The United Kingdom (Uk) from January 2006 to June 2024, by Type of Credit and Rate." Statista, Statista Inc., 30 Jul 2024, https://www.statista.com/statistics/1359472/effective-interest-rates-of-new-household-loans-uk-by-type/
Bank of England, Average effective interest rates of new household loans in the United Kingdom (UK) from January 2006 to June 2024, by type of credit and rate Statista, https://www.statista.com/statistics/1359472/effective-interest-rates-of-new-household-loans-uk-by-type/ (last visited December 21, 2024)
Average effective interest rates of new household loans in the United Kingdom (UK) from January 2006 to June 2024, by type of credit and rate [Graph], Bank of England, July 30, 2024. [Online]. Available: https://www.statista.com/statistics/1359472/effective-interest-rates-of-new-household-loans-uk-by-type/
