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HSBC says will match competitors' rates for small business loans

Published 20/07/2016, 13:45
HSBC says will match competitors' rates for small business loans
HSBA
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LONDON (Reuters) - HSBC (L:HSBA) said on Wednesday it will match interest rates offered by any other UK lender on fixed-rate small business loans and business overdrafts up to 25,000 pounds, in a bid to boost confidence among small business borrowers.

The offer will be available until the end of October and will cover rates offered by any UK competitor including so-called "challenger" banks and online lenders.

Europe's largest bank said it had also reduced its minimum arrangement and renewal fees for business overdrafts from 100 pounds to 25 pounds.

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