We don't like HSBC's loan rates

HSBC, "the world's local bank," is not so friendly with its rates on unsecured personal loans. It may be number one in the best buys this week for secured lending (when you use your house as security) at 6.8% for loans of £5,000 and above.

When it comes to borrowing £5,000 on an unsecured basis, customers aren't getting such a good deal at 13.9%. To borrow £5,000 over three years (36 months) with insurance will cost its customers just over £197 per month.

Tot this up over the three years and it means they are paying almost £3,000 extra for the privilege. Take the loan without insurance and customers will pay just under £2,000 extra.

My advice is to shop around - just by glancing at the best buy tables here you could save yourself hundreds of pounds.