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Loans glossary

Graduate loans

A graduate loan is similar to an unsecured personal loan except that banks and building societies often charge graduates better rates of interest.

However, to secure a graduate loan banks often require the customer to hold a current account with them.

Graduate loans are typically available for up to £25,000, with repayment periods of between six months and ten years.

The rate of interest charged changes depending on the amount of money borrowed, the length the loan is taken out for and the credit rating of the borrower.

Repayments on a graduate loan, along with the interest rate charged, tend to be fixed for the duration of the loan.


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