Argos has launched a loan enabling customers to borrow up to £15,000 as it grows its financial services offer.

The retailer -which already offers homeowner loans, a store credit card and insurance cover - has added a personal loan to its financial portfolio after partnering with consumer finance specialist LaSer.

Now Argos customers are able to apply for a standard loan of between £3,000 and £15,000 at an APR of 14.9% with “flexible payment terms” to be repaid over two to five years.

Argos financial services marketing manager Martin Yarnell said: “We’ve developed this new loan to provide even greater choice for our customers and we believe that LaSer UK is well placed to deliver it.”

The Argos Personal Loan, which is available online, is being offered through LaSer’s consumer brand Creation.

LaSer UK chief executive Stephen Hunt said the firm is in talks with other retailers about introducing the service.