...... their current accounts

Borrowers are being left more than £1,000 out of pocket after being duped into taking out costly personal loans flogged by banks alongside their current accounts. Many banks claim that their current account customers receive exclusive offers on personal loans. But often these so-called bargain deals are much more expensive than widely available loans. In the worst cases, unwitting customers who fail to check the small print can find themselves thousands of pounds worse off.

‘Customers may assume that by going to their own bank, they will be given a much lower rate than what’s on offer to new customers elsewhere,’ says Rachel Springall, of financial analysts Moneyfacts. ‘But in reality, there are many competitive loan deals, regardless of whether you hold a current account with the lender or not.’ One of the cheapest £7,500 loans on the market is with Derbyshire BS at 5.9 per cent.....Read more here: Borrowers left over £1,000 out of pocket after taking out costly loans | This is Money