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Halifax launches new direct services bank

The Halifax today announced the launch of Paramount Bank, a new direct financial services brand offering low-cost personal loans and credit cards.

Paramount Bank will offer personal loans from 7.9 per cent for sums over £12,500. Later in the year a range of credit cards will be launched featuring options of no repayments for the first three months, decisions on applications in 10 minutes and repayment periods of up to seven years.

Halifax Card Services managing director James Corcoran says: “We will be supporting the launch with a multi-million pound promotional and advertising campaign.”

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