Consumers taking out a personal loan are “paying through the nose” due to soaring interest rates. Banks are now charging an average APR of 10.32% on personal loans even though the Bank of England’s base rate has been held at a record low of 0.5%. This compares to an average personal loan APR of 8.71% in 2004. “Despite [...]

More: Rates soaring on personal loans

lol the sub-prime lenders ask for around a 40% interest, so 10% still seems fair imo.