Amongst the providers hiking rates are Bradford & Bingley - who have slapped an increase of up to 4 per cent on borrowers - Northern Rock, Goldfish and Norwich Union.
Lisa Taylor, analyst at Moneyfacts.co.uk said: “The last nine months have seen a steady increase in the rates available for unsecured personal loans, only four months ago sub six percent rates were available, whereas today you would be hard pushed to get your hands on a rate of less than 6.9 per cent.
“With increasing uncertainty in the financial markets, rising levels of bad debt and a year of interest rate rises putting pressure on our disposable incomes, its comes as no surprise to see lenders increasing their lending margins in what has become a far more risky environment to do business."
The difference between the cheapest and most expensive loan will now cost borrowers an extra £14.15 per month, or more than £500 over the three year term of the loan.
