English banks charging 12.4% interest on personal loans, although they borrow at .5%

Daily Mail:

Banks are making record profits after hitting customers with the highest personal loan interest rates in almost a decade.

Loan rates average 12.4 per cent, despite the fact the Bank of England base rate is at a 300-year low of 0.5 per cent. (Un-believable)

[...]This is up from 12.1 per cent a year ago and 7.8 per cent in early 2006.

[...]According to the Bank the amount borrowed rose by £ 52million - to £226.4billion - in December, the first increase since June.

Last night there was anger that taxpayers' cash used to bail out the banks is being loaned back at extortionate interest rates.