Moneyback Bank allows you to earn money back on the amount you borrow as you make repayments. The Moneyback is paid for each complete year of repayments as long as repayment protection insurance is taken out.
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With a Moneyback Bank loan, you can earn money back on the amount you borrow as you continue to make repayments. You can earn money back if you take out repayment protection insurance. The ‘moneyback’ is paid for each complete year that you hold both the loan and the protection insurance. Customers must set up a direct debit to make repayments.
Moneyback Bank is a trading name of Alliance & Leicester plc and was launched in June 2005. Alliance & Leicester is the UK’s seventh largest bank, with around 5.5 million customers.
The Moneyback Bank loan is unsecured and is an exclusive online offer. The interest rate is fixed. To apply for the loan, you must be aged over 18 and be a permanent UK resident. The Moneyback Bank loan can be used to pay for a new or used car, holiday, debt consolidation or home improvements, and can be repaid over a term of up to seven years.