Personal loans at lower interest rate from Nationwide

Nationwide is reducing the interest rate on its personal loans to a market leading 7.7% typical APR.

The offer applies to new Nationwide Personal Loans customers only and is for loans between £5,000 and £14,999.

To qualify you have to have a Nationwide current account, a FlexAccount.

The actual interest rate will depend on the amount borrowed and your individual circumstances.

Your credit history is used by many lenders to determine your creditworthiness.

You can get a free credit report to check what details are held and if appropriate take action before applying for a loan.

Chris Rhodes, product and marketing director at Nationwide, said ‘Nationwide continues to be competitive in the personal loan market and with the introduction of this market leading headline rate of 7.7% typical APR, beating what’s being offered by supermarkets and high street banks.’

The personal loans can be used for a variety of purposes, including home improvement, to consolidate other debts, pay for a wedding or buy a new car.

There are different types of loan available, including a personal loan, mortgage and a secured loan. You may find our article ‘A Quick Guide to Loans‘ useful.