Interest Rate
The amount to be paid back will depend on the amount borrowed plus the interest charged. Interest is linked to the rate of inflation and is adjusted each year in line with the Retail Prices Index (RPI).
From 1 September 2008 to 31 August 2009 this will be 3.8%.
Year |
APR |
|---|---|
1990/91 |
9.8% |
1991/92 |
5.8% |
1992/93 |
3.9% |
1993/94 |
1.2% |
1994/95 |
2.3% |
1995/96 |
3.5% |
1996/97 |
2.7% |
1997/98 |
2.6% |
1998/99 |
3.5% |
1999/00 |
2.1% |
2000/01 |
2.6% |
2001/02 |
2.3% |
2002/03 |
1.3% |
2003/04 |
3.1% |
2004/05 |
2.6% |
2005/06 |
3.2% |
2006/07 |
2.4% |
2007/08 |
4.8% |
2008/09 |
3.8% |