Cahoot Personal Loans has cut selected personal loan APRs for both new and existing customers.

Smaller loans have a rate of 5.3% APR.

Larger loan rates have also been reduced to 4.9% APR.

The following rates are now available to both new and existing cahoot customers:

• For personal loans between £5,000 and £7,499, from 5.3% APR (previously 6.1%)
• For personal loans over £15,000, from 4.9% APR (previously 6.2%):

The new personal loan rates are available to customers purchasing online at www.cahoot.com and can only be serviced by telephone.

Jeremy Claridge, head of unsecured personal loans at Cahoot, said: “As the Christmas season approaches, people are inevitably starting to think about their spending plans over this period.

“We are therefore pleased to be able to offer both new and existing customers purchasing through cahoot better rate’s for smaller and larger value loans, we hope that this will help them to effectively organise their finances and ensure their festive plans are both enjoyable and affordable.”