Shop around for competitive loan rate

Consumers are advised to shop around for competitive rate on personal loans.

It has been suggested that consumer should shop around for competitive interest rate on personal loans. A fair number of Brits take out personal loans to carry out health surgery. As much as £6,500 is taken out through personal loans to bear the expenditure of health surgery.

It has further been estimated that Brits will take out more than £5 million through personal loans for health surgery by the end of the year. Research shows that daily £1.8 million is spent spent by the consumers n improving their physical appearance through this method of financing.

Peter Ball, loans manager at Sainsbury's Bank, remarked: "We estimate that around £5 million will have been taken out in personal loans this year to pay for health surgery, but as it becomes less taboo for many people, a growing number of men and women may be looking to improve their health and fund this with loans."

He also added that Mintel predicts a 240 per cent growth between 2001 and 2006, with British adults spending their money on health surgery one million times a year by 2009.

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