Norwich & Peterborough business loan rates reduced

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Norwich & Peterborough business loan rates reduced

Norwich & Peterborough (N&P) business loan rates have been reduced, with businesses encouraged to apply quickly due to limited funds.

The N&P two-year fixed-rate commercial loans as well as five-year fixed-rate commercial loans have been reduced with immediate effect.

The two-year loan is now fixed at 6.18 per cent for two years, down from 6.56 per cent, while the five-year rate is now at 6.21 per cent for five years, down from 6.55 per cent.

David Jervis, N&P general manager, business services, said: "These reduced rates offer a great opportunity to fix payments at lower rates than many borrowers would pay for a variable rate mortgage.

"This will benefit customers who are keen to keep their monthly repayments locked into an attractive interest rate. Limited funds are available so I would encourage businesses to apply quickly."

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