Personal Loan Variable Interest Rates - 2005-2009

Could anyone help me find the personal loan variable interest rates for period 2005 to 2009 .

These rates are normally governed by the ECB , and the held by someone called eurobir .

Any help would be appreciated .

Have a dispute with a financial institution and it is at the stage , where it can go to either mediation or investigation by the FO .

Could someone with experience , please let me know whether I should choose a mediator or an investigator .

Thanks

allthedoyles said:

Could anyone help me find the personal loan variable interest rates for period 2005 to 2009 .

.

Click to expand...

These would be different with each bank. If you had a personal loan with them do your bank statements not show the interest rate?

Given that it is a personal loan, the loan rate in effect could be specific for your loan, i.e. printed on your loan statement.

TarfHead said:

Given that it is a personal loan, the loan rate in effect could be specific for your loan, i.e. printed on your loan statement.

Click to expand...

Nope , This bank did not issue statements monthly , and we only received a statement at the end of term , which just shows the current interest rate.

You can find historical EURIBOR here. You'll likely need the 1 month or 3 month rate, depending on how often you are charged interest on your loan. I've been looking at this recently, since I have a floating rate personal loan where EURIBOR has fallen by over 900% since I took it out, but my overall interest rate has gone up. Particularly interesting since the bank in question has a state guarantee.

Op from your second post on this it would appear that this has already been through some sort of internal process in the bank given that mediation and FSO is being mentioned.

If it is the case that it has got to that stage then the bank should be able to give you a written breakdown of the interest rates applicable, the dates they were applied and what interest was charged. They should also be able to give you a copy of the initial loan offer letter outlining the interest rate and what terms apply and how they calculate the interest rate.

If there is no specific detail for how they calculate the rate then it is just a variable then there is nothing to stop them increasing to any rate regardless of euribor provided it was not usurious.

I would ask the bank for details of their personal loan interest rates for the period, see how they compare and ask the bank to explain any differences. If your rate is significantly higher than their normal personal loan rates then you may have some strength in challenging them.

allthedoyles said:

Nope , This bank did not issue statements monthly , and we only received a statement at the end of term , which just shows the current interest rate.

Click to expand...

What document did you originally sign, what does it say about interest rates?

Also I presume the statement shows the initial loan amount and the repayments, could you put a copy of it on here? (don't identify the bank or yourself)

I'm not very familiar with personal loans, but there must have been an initial agreement as to what the interest rate would be and also you would be entitled to ask them what they charged.

I know the bank sends me a letter when my variable rate mortgage changes but maybe this doesn't apply to personal loans?