Starling Bank has launched its first personal loan products offering up to £5,000.
The unsecured personal loans will take just minutes to apply for, with customers choosing the day a repayment is made and over what period.
The mobile-only bank stated that the loans would have competitive interest rates and no penalty fee for early repayment.
Stuart Leak, head of lending at Starling Bank, said: “Our spread-the-cost loans offer a structured repayment schedule giving customers greater flexibility and control of their money.
“If an unexpected bill hits your account, or you are faced with an unavoidable large expense, you’ll be able to spread the cost with a loan and choose a repayment method, including both the time period and monthly repayment amount that suit you.”
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