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Cost of personal loans continues to rise

The cost of personal loans has increased again, with lenders once again increasing interest rates on unsecured loans according to research by a financial price comparison site.

Moneysupermarket.com claimed that the cost of interest on a £10,000 loan has increased by an average of £322 after some lenders increased their typical APRs by up to 1.2% for new customers since the beginning of the month.

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